LONDON, FEBRUARY third 2020 – Rimilia, the main SaaS-based fintech firm, as we speak introduced it has secured $15 million in progress funding. This funding spherical consists of participation from present buyers and companions Eight Roads Ventures and Kennet Companions, and Silicon Valley Financial institution. It brings the entire quantity raised by Rimilia to $40 million. This new capital will likely be used to drive continued product innovation, put money into new expertise, and gas the corporate’s world growth.
Kevin Kimber, CEO, Rimilia, commented: “We’re delighted to obtain additional funding from our present buyers, which validates our imaginative and prescient for the corporate, our know-how, and can assist us construct on the expansion that we’re attaining. This extra capital units Rimilia up for continued success, and will likely be used to construct out our market presence and advance our software program, whereas additionally specializing in constructing out our workforce so as to add additional subject material experience and main knowledge scientists to additional advance our automation and AI.”
It comes after a 12 months of report progress for the corporate which noticed the appointment of Kevin Kimber, former EMEA founding father of ServiceNow, as its new CEO in March, alongside 67 new workforce members. It not too long ago opened places of work in London, UK, Denver, USA and Toronto, Canada. Because the hotbed for AI know-how and expertise, the Toronto workplace will deal with know-how companies and AI growth to drive Rimilia’s innovation, and assist its rising North American buyer base.
Rimilia creates software program finance individuals love by serving to them eradicate the archaic practices of manually managing money and credit score, decreasing unhealthy debt provision, and utilising the ability of synthetic intelligence (AI) to offer studying and insights for higher choice making. At this time, Rimilia counts corporations akin to Avis, Hitachi, Santander and Travis Perkins as purchasers, having accomplished over 12 million transactions and automatic the gathering and allocation of $150 billion in 2019 alone.
In November, Rimilia launched Monetary Relationship Administration (FRM), a game-changing strategy that gives finance groups with higher visibility into real-time buyer insights. FRM bridges the hole between Buyer Relationship Administration (CRM) and Enterprise Useful resource Planning (ERP) to unite pre- and post-sale buyer knowledge. Utilizing the ability of synthetic intelligence (AI) to handle buyer relationships, gross sales, buyer success, credit score and collections, enterprises utilizing FRM can halve the quantity of assortment exercise and double the money acquired.
Davor Hebel, Head of Europe Ventures, Eight Roads Ventures, mentioned: “Rimilia’s SaaS platform has rapidly established itself as an important useful resource for world finance professionals, creating actual efficiencies and serving to to extend revenues. Underneath Kevin’s management the enterprise has proven sturdy progress and we look ahead to persevering with to work collectively – utilizing the ability of our world community to assist Rimilia because it scales.”
Hillel Zidel, Managing Director, Kennet Companions, commented: “Rimilia’s know-how has enabled finance leaders globally to optimise their credit score and assortment choices, in the end boosting an organization’s monetary efficiency. We’re excited to assist Rimilia as they proceed to develop quickly throughout Europe and North America.”
Ben Tickler, Vice President, Silicon Valley Financial institution UK, added: “We’re thrilled to additional lengthen our partnership with Rimilia because the workforce continues to expertise spectacular progress. Rimilia has a rising and thrilling record of world blue-chip purchasers benefiting from their cutting-edge automated monetary options that ship sooner and higher choice making, while rising productiveness.”
Rimilia is the primary and solely AI-powered automation platform constructed to handle order-to-cash course of in actual time. Our Monetary Relationship Administration (FRM) platform helps finance leaders throughout the globe make higher gross sales and credit score choices to allow them to improve income, enhance buyer satisfaction, and cut back threat. Rimilia’s SaaS options work with any forex, any financial institution, any ERP, in any nation and language. Rimilia has places of work situated in Bromsgrove and London within the UK, Denver, Colorado within the U.S., and Toronto in Canada.
Study extra at https://www.rimilia.com
Octopus Group for Rimilia
Eight Roads Ventures
Alex Prescot, Senior Supervisor, Communications & Advertising