Rillet, an enterprise resource planning (ERP) software provider focused on finance teams, has expanded into the UK with a new office in London. The move follows growing demand from UK and European customers, which the company says now contribute 10% of its net new annual recurring revenue (ARR).
The company plans to build a local team in London, with its initial UK employees already in place and further recruitment expected in the coming months. The expansion marks Rillet’s first major step into the European market.
Rillet said its international net new ARR more than tripled month on month, although it did not disclose the revenue figures or the period covered by the comparison. Its European customers include companies such as Black Forest Labs, Temporal and Primer.
AI-led ERP targets finance operations
Rillet provides an ERP platform designed for finance teams, with AI capabilities integrated into its architecture. The platform aims to help organisations manage accounting and financial operations as they grow, reducing dependence on legacy systems.
According to the company, finance teams at expanding businesses face increasing pressure to manage financial data, close their books efficiently and support more complex operations. Rillet is positioning its platform as an alternative to traditional ERP systems, with AI capabilities intended to support finance workflows.
Dave Arkell, CFO of Black Forest Labs, said the company selected Rillet to build a finance function aligned with its technology-focused operations. He highlighted the importance of AI integration and reliable financial data in supporting business decisions.
European expansion follows funding and customer growth
The UK expansion comes less than three months after Rillet raised $100 million in a Series C funding round at a reported valuation of $1 billion. The round was led by ICONIQ, with participation from Sequoia and Andreessen Horowitz.
Rillet said it serves nearly 1,000 customers across 75 countries, including publicly listed companies and growing technology businesses. The company plans to use its London presence to provide local support to finance teams and strengthen its relationships with businesses and professional services firms across the region.
The company also plans to expand its Close Club community, which currently connects more than 1,500 finance leaders in the US, to the European market.
Building partnerships across the European market
Rillet’s expansion strategy also includes strengthening relationships with accounting and advisory firms. Its existing ecosystem includes alliances with EY and RSM, along with partnerships with more than half of the firms listed in Accounting Today’s top 20 CPA firms.
The company said these relationships would help it establish a presence across the UK and wider Europe, where accounting and professional services firms play an important role in advising businesses on financial systems and operations.
Nicolas Kopp, CEO and founder of Rillet, said the company had already attracted UK customers before establishing a local presence. The London office is intended to bring its team closer to customers as demand for its ERP platform grows beyond the US.