Rillet, an AI-native ERP platform built for modern finance teams, this week announced a $70 million Series B co-led by Andreessen Horowitz and ICONIQ with participation from Sequoia, Oak HC/FT, and earlier investors. In conjunction with the new funding, Andreessen Horowitz general partner Alex Rampell and ICONIQ general partner Seth Pierrepont join the board.
This round comes just 10 weeks after Rillet announced a $25m Series A round from Sequoia, giving the company more than $100 million in under a year.
“As US CEO of N26, I experienced firsthand how frustrating it was to wait weeks for critical business metrics,” said Nicolas Kopp, CEO and co-founder of Rillet. “My finance team was world-class, but simple requests took weeks because the systems were stuck in the past. I knew there had to be a better way.”
That conviction led Kopp to partner with Stelios Modes, the technical architect behind N26’s payment infrastructure, to completely rethink what enterprise accounting could become.
Rillet said it redefines financial systems architecture. Legacy ERPs are, at their core, “dumb databases”. They store transactions, but the real work happens in spreadsheets and bolt-on analytics tools.
Rillet flips that model. It starts with native integrations, which enable structured data to flow into their smart general ledger. AI is then applied directly within the system, empowering finance teams to collaborate in real time, automate workflows natively, and get insightful reporting the moment something happens.
“Finance teams deserve the same AI advantages that have revolutionized sales, engineering, and legal,” said Rampell. “Rillet is delivering that transformation by rebuilding ERP infrastructure specifically for the AI era. We’re excited to support their vision as they scale to serve the next generation of high-growth companies.”
“In our view, Rillet is not just modernizing accounting software, it’s redefining what finance teams can achieve when freed from outdated systems, added Pierrepont. “Their AI-native approach can give companies a clear edge: faster insights, leaner teams, and smarter decisions. We believe Rillet will become foundational infrastructure for the next generation of category-defining businesses.”
The accounting industry is facing a major talent crunch, with 75% of accountants expected to retire in the next 15 years. At the same time, 80% of routine financial operations could be automated according to Accenture.
Looking ahead, Rillet’s plan is to expand its AI capabilities and deepen integrations across the financial technology stack. The team’s ultimate vision extends far beyond automation; they’re building towards a collaborative platform where AI agents and human expertise work together to transform how businesses understand and manage their financial performance.
“Our customers are building the companies that will define the next decade of business,” Kopp concluded. “We’re building the infrastructure that will take them there and redefine what’s possible when finance teams have truly modern tools.”