Home / Business and Economy / AI Startup Rillet Raises $70M to Revolutionize Accounting
AI Startup Rillet Raises $70M to Revolutionize Accounting
6 Aug
Summary
- Rillet raises $70M in Series B funding
- Startup valued at around $500M
- Aims to replace legacy accounting systems with AI-powered platform
On August 6, 2025, Rillet, an AI-powered accounting software startup, announced that it has raised $70 million in a Series B funding round. The round was co-led by venture capital firms Andreessen Horowitz and ICONIQ, with participation from Sequoia, Oak HC/FT, and FOG Ventures.
Rillet, founded by Nicolas Kopp, the former U.S. head of digital bank N26, has developed an AI-powered ledger software that helps companies automate accounting tasks. The startup's platform allows finance teams to close books in hours rather than weeks, thanks to integrations with systems from companies like Salesforce, Stripe, and Brex.
The latest funding round, which comes just over two months after Rillet raised $25 million, brings the startup's total funding to more than $100 million. According to a source close to the deal, Rillet was valued at around $500 million in this latest fundraise.
Rillet's goal is to replace legacy accounting systems that function as "dumb databases" by offering a platform that pulls in data directly and uses AI to automate tasks and deliver real-time insights. The startup's efforts have helped it double its annual recurring revenue over the past 12 months and led to partnerships with accounting firms such as Armanino and Wiss.
Rillet plans to use the new funds to speed up the development of its platform and expand its team, including by hiring more engineers.
