Over the past 10 years, innovations have remade nearly every aspect of fintech—and in the process, unbundled a stack that was once wholly contained within a company’s ERP (enterprise resource planning) system. But the general ledger (GL)—the central record-keeping system that is the beating heart of financial operations—has been static, still dominated by legacy ERP solutions like NetSuite or Sage, launched decades ago.

For businesses trying to scale, the pain is real. They’re forced to graduate from products with limited functionality that no longer meet their needs to arcane, inefficient systems that take 10 or more specialists to run—and 15 to 20 days of manual work to close each month.

Why has this ERP foundation, so ripe for disruption, remained virtually untouched? In part because replacing the general ledger is a high-stakes proposition in a risk-averse field—and in part because it’s very hard to build.

Thankfully, Rillet co-founders Nicolas Kopp and Stelios Modes decided to take on that challenge, and rebuild an AI-native ERP from the ground up. The mission is to enable CFOs to achieve a zero-day close, and lay the foundation for a “one-person Finance function.” With a robust GL and features such as multi-entity support and advanced revenue recognition, Rillet becomes the go-to solution for businesses that are scaling past QuickBooks, as well as those that are slowed down by their NetSuite setup and want to modernize their CFO stack.

Prior to starting Rillet, Nicolas and Stelios experienced firsthand the challenges of working with traditional GL solutions while scaling the neobank N26. They recognized the sharp contrast between the hollowed-out legacy ERPs and the consumer-grade UI of newer solutions, and they understood that AI’s massive savings potential was pushing CFOs to innovate.

Over the past year, those insights have paid off, and Rillet has experienced strong pull from the market, attracting customers such as Windsurf and Decagon and collecting glowing reviews across the board, with an NPS of more than 70 and a perfect score on G2. Companies that once slogged through six-month deployments of legacy solutions can get up and running on Rillet in just weeks. Consulting-heavy customizations are replaced by simple user-friendly workflows and real-time reporting with pre-built investor metrics. Zero-day closes will soon be not the exception, but the expectation.

We at Sequoia are excited to lead Rillet’s Series A and support their growth, as their team—split across New York, Barcelona and now Menlo Park—continues to expand. What they’ve already accomplished is impressive, but it is just the start. We believe Rillet’s next chapter, around agentic automation of the Finance function (including auditing, accrual and reconciliation) will take the CFO experience to a whole new level. Thanks to Nicolas, Stelios and their team, CFOs finally have a fully modern foundation—that they can build on for years to come.