Kolleno focuses on solving challenges in accounts receivable and payables management by replacing manual, error-prone processes with automation and intelligent workflows. The platform consolidates receivables, payables, reconciliation, and payments in one place to provide finance teams with better visibility and control over cash flow. It integrates with multiple ERPs for seamless data synchronization and offers a customer-facing portal for faster payments. Kolleno serves diverse sectors needing efficient financial back-office processes and is trusted by over 1,000 businesses globally, including markets in Europe, UK, US, Canada, and South Africa.
The company was founded by Dimitri Raziev, a former Goldman Sachs analyst, and Ron Danenberg, an ex-Expedia Group senior big data developer. They founded Kolleno out of their observation of the negative impact that manual processes and poor cash flow management have on SMEs. Since its inception in 2020, the company has grown rapidly, processing over 170,000 invoices and acquiring customers across multiple international markets in under two years.
Kolleno secured a seed funding round of $5.4 million (£4 million) in March 2022. The round was led by prominent investors Eurazeo and Stride.VC, with participation from Euler Hermes, HubSpot, and notable angel investors such as Michael Pennington, Mark Ransford, and Will Neale. This funding aimed to scale Kolleno's product offerings, marketing, sales, and partnerships. While exact post-money valuation details are not public, the seed round capital and revenue growth indicate strong market confidence and potential for further expansion.
The company’s strategy has focused on internal product development and expanding its platform capabilities through continuous innovation in automation, communication, and analytics features.
Kolleno continuously rolls out improvements such as omnichannel communication methods, AI-driven prioritization of collection workflows, and enhanced payment portals accessible directly via customer emails or SMS. Their platform also supports proactive credit risk alerts and data insights dashboards to help reduce bad debt risks. Additionally, customer success teams provide ongoing 24/7 support and personalized onboarding to maximize client utilization of the platform.
Kolleno’s founders and team emphasize innovation in simplifying cash flow management and a customer-centric approach focused on freeing finance teams from manual repetitive tasks. They value automation, accuracy, and efficiency to improve clients' financial health and cash conversion cycles. The involvement of veteran investors and recruitment of industry professionals suggests a focus on expertise and scalable growth.
Kolleno serves over 1,000 businesses, mainly SMEs, across multiple continents with a concentration in Europe, the UK, the US, Canada, and South Africa. Its users are primarily finance and accounting teams that benefit from centralized receivables and collections management. The platform’s effectiveness in increasing collection rates and reducing aged debt has contributed to growing adoption. It maintains direct customer support and close client engagement through regular training and check-ins to build a strong user community and maximize platform impact.
