Rillet, a San Francisco-based maker of accounting software featuring integrated AI agents, has launched operations in central London as it expands beyond North America. The announcement came on Monday, marking the company's inaugural significant entry into the European market.
European clients—primarily in the UK—already represent 15% of Rillet's new annual recurring revenue, according to the company. Among these early adopters are AI image generation firm Black Forest Labs and workflow automation platform Temporal.
Rillet develops ERP software that manages corporate financial operations. The platform maintains real-time account records and enables AI agents to automate portions of the monthly close process. Finance teams across Europe have continued to rely on legacy systems for book closing, creating an opening for newer solutions.
Remarkably, UK-based finance teams began adopting Rillet before the company had any local presence, with minimal marketing effort. Nicolas Kopp, Rillet's chief executive and co-founder, explained the opportunity: "Within a year of launching in the US, we already had finance teams in the UK running on Rillet." He noted that establishing a London office would enable the company to better understand customer requirements and provide localized support.
The company has already brought on its initial London hires across sales, deployment, and support functions. While Rillet intends to expand its London team substantially, it has not disclosed specific hiring targets.
Black Forest Labs, one of Rillet's European customers, values the company's approach to embedding AI capabilities into financial software from the ground up rather than layering them on afterward. Dave Arkell, the firm's chief financial officer, stated: "We chose Rillet for our ERP because they matched that ambition."
The London expansion follows a $100 million funding round completed less than three months ago that valued Rillet at $1 billion. ICONIQ Capital led the investment, with participation from Sequoia Capital and Andreessen Horowitz.
Rillet now serves nearly 1,000 customers across 75 countries. The company reported more than 600 customers in August, and has seen international new revenue more than triple month-over-month, though specific figures were not disclosed. LinkedIn ranked Rillet 22nd on its 2026 list of the top 50 US start-ups in October.
The company plans to leverage existing partnerships with major accounting firms to accelerate European growth. Rillet maintains alliances with EY and RSM, and works with more than half of the 20 largest US accounting firms as ranked by Accounting Today. These firms operate substantial practices throughout the UK, Europe, the Middle East, and Africa, positioning Rillet to build credibility and expand across these regions.
Source: The Next Web
