Kolleno in a £4 million seed funding round led by Eurazeo and Stride.VC.

Kolleno, a London, UK-based SAAS startup developing an automated solution for receivables management, announced completing a seed funding round closed at £4 million ($5.3M).

The money was raised from investors co-led by Eurazeo and Stride.VC, and joined by Euler Hermes, HubSpot as well as by angel investors Michael Pennington, Mark Ransford, and Will Neale.

Kolleno, founded in 2020 by CEO Dimitri Raziev and Ron Danenberg, developed a software tool that simplifies the B2B credit control and collections for SMEs by automating the management of receivables on one single platform. The platform does cash reconciliation, prioritises the workflow and provides tailored collection strategies by advising the most effective communication channels using AI and machine-learning technology. The company says it has processed over 170,000 invoices and acquired customers across several markets in Europe, the U.K., the U.S., Canada, and South Africa.

Kolleno previously was pre-seeded by angel investors in 2020.