London-based fintech startup Kolleno raises $5.3M seed to help businesses solve their cash flow struggles
Summary
That’s why London-based fintech startup Kolleno which specializes in Accounts Receivable (AR) management for SMEs is on a mission to help businesses solve their cash flow struggles and reduce manual work and processes by 100%. Founded in 2020 by Dimitri Raziev, CEO (ex-Goldman Sachs, Fasanara Capital) and Ron Danenberg, CTO (ex-Expedia Group, Vatglobal), Kolleno simplify B2B credit control and collections for SMEs by automating the management of receivables on one single platform. “Kolleno has been designed to alleviate these challenges by automating manual legacy processes to eliminate errors, ensure that businesses get paid faster, and improve cash flows for our clients, some of whom have reported greater than 90% recovery using our platform.” In addition to automating and streamlining processes, Kolleno’s software offers added convenience by partnering and offering an Open API integration with leading ERP and software solutions, including Xero, QuickBooks, and Clio to better meet the needs of its clients. “The technology has reached a level where it is able to remove repetitive tasks from employees and perform them faster and more accurately, freeing up time for staff to focus on higher value-added activities and speeding up the sales-to-cash timeframe. To assist with these efforts, the company has recruited Djibrane Larrabure (ex-Deloitte consulting) as Chief of Staff and onboarded a team of nearly ten professionals to expand its product, marketing, sales, and partnership offerings across regions.