Kolleno Founding CEO Dimitri Raziev Simplifies B2B Credit Monitoring and Collections for SMBs

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Kolleno is an up-and-coming London-based fintech that provides key automated credit-control functions and uses smart omnichannel communication to simplify B2B customer account management and collections for medium and large businesses. The firm’s bespoke solution is designed to provide companies and businesses in various sectors with a 360° view of their receivables, helping them to increase their financial productivity and optimize their working capital.

Kolleno CEO and co-founder Dimitri Raziev identified an opportunity to help B2B companies better manage late payments while working at a fintech-focused hedge fund. He realized how saturated the non-performing loan market was when it came to cash collection coupled with the lack of innovative CRMs to perform cash flow management effectively.

“The collections industry is lagging in its adoption of technology, so we saw an opportunity to create a 21st century accounts receivable management and credit collections platform,” Raziev said.

After his birth in the former Soviet Union, Raziev’s family made Aliyah to Israel before moving to Montreal, Canada, where he studied accounting and finance at McGill University. He then moved to London, England, and obtained a master’s degree in economics at University College London, before working as an analyst for several large financial services companies, including Goldman Sachs and Credit Suisse.

He co-founded Kolleno with Ron Danenberg in 2020 to help businesses navigate credit monitoring and collections while maintaining positive customer relationships. Over the past 18 months, the startup has raised $7 million in seed funding led by Eurazeo and Stride.VC with participation from Euler Hermes, HubSpot, and a number of angel investors. Over the past three years, Raziev has shared his success and expertise on startups through regular guest lectures at Oxford University’s Saïd Business School.

“By digitizing the credit control cycle, we provide a platform that enables B2B companies to streamline payments for their customers,” Raziev explained. “Kolleno adds a human touch to messaging using key principles of behavioral economics. Through personalized omnichannel and in-app communication methods including email, text and phone calls, we facilitate customer relationships by using a smart approach to customer communication. »

The company’s own artificial intelligence and machine learning technology is a valuable task management tool for the typical credit checker.

“[Our] The software uses AI to ensure the right time, tone of voice, content and channel for each debtor using machine learning to ensure all payments are received in a timely manner,” Raziev added. .

He argues that businesses, which previously had to hire credit-control specialists or assign additional tasks to existing team members to manually monitor customer payment dynamics, can save nearly 35% of their work week by adopting Kolleno’s software — valuable time that can be spent on higher value tasks.

According to Raziev, Kolleno’s main customers are in the medium and large business market. While small businesses, or those with 30 to 40 customer relationships, may not feel overwhelmed by their account workloads, businesses with annual revenues over $5 million have a greater need for the technology of company to centralize their information on a single platform.

Indeed, their clients have reported more than 90% recovery on their collections, Raziev said. CFOs further recognize the benefits of the startup’s technology, which provides a constant reading of the company’s cash flow. This is supported by the platform payment portal, which is accessible directly from the email or SMS received by the customer, providing users with a dashboard highlighting data insights and credit analysis to mitigate risk and reduce bad debts .

The fintech provides additional convenience by offering OpenAPI integration and partnering with leading ERP and software solutions including Oracle NetSuite, Microsoft Dynamics 365, Sage, Xero, QuickBooks, and Clio to better meet the needs of its customers. As a result, the company has already acquired customers in the United States, Canada, South Africa, United Kingdom and Europe since its launch.

Looking ahead, Kolleno’s next big step is to acquire its first 1,000 customers and position itself as a leading global payments and cash management platform. Its seed funding will be used to increase the capabilities of the startup to offer even more personalized services. To help businesses thrive, the company is looking to expand product development, internalize sales and marketing, and develop meaningful partnerships across all regions.

“We look forward to continuing to support the long-term success of our clients and are grateful for the trust our investors have placed in us to deliver on this promise,” Raziev said.

Tom Berger, Bachelor of Commerce candidate at McGill University’s Desautels Faculty of Management, contributed to this story.

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