Fintech Startup Rillet Raises $70M in Series B Funding Led by Andreessen Horowitz and Iconiq Capital

Fintech startup Rillet has successfully raised $70 million in a Series B funding round, which was co-led by venture capital firms Andreessen Horowitz and Iconiq Capital. This round comes just 12 weeks after the company's Series A round, where it secured $25 million, led by Sequoia Capital. Other participants in the Series B round include Oak HC/FT and earlier backers.

Over the past year, the 4-year-old company has raised a total of over $108.5 million. While Rillet did not disclose its valuation, a source familiar with the deal mentioned it to be around $500 million. Co-founded by Nicolas Kopp, former U.S. CEO of N26, Rillet is an AI-native Enterprise Resource Planning (ERP) software designed for CFOs and accounting teams at high-growth companies. The platform integrates with numerous tools across the tech stack and utilizes AI and machine learning to automate critical accounting workflows such as accruals, bank reconciliations, revenue recognition, and investor reporting.

According to Nicolas Kopp, the company's revenue has doubled in the 12 weeks since the Series A round. Rillet currently serves over 200 companies, including Postscript, Finch, Laurel, Lang AI, and Windsurf. As part of the funding, Andreessen Horowitz general partner Alex Rampell and Iconiq general partner Seth Pierrepont are joining Rillet’s board. Looking ahead, Rillet aims to enhance its AI capabilities and strengthen integrations across the financial technology stack with the goal of creating a collaborative platform where AI agents and human expertise work together to transform how businesses understand and manage their financial performance.