Euler Hermes backs Kolleno

London-based Kolleno closed a $5.2 million seed round led by Eurazeo and Stride.VC, with participation from Euler Hermes , HubSpot, and several angel investors including Michael Pennington, Mark Ransford, and Will Neale.

Founded in 2020, the startup simplifies B2B credit control and collections for SMEs by automating the management of receivables via a single platform. It attracts customers from the US, Canada, Europe, and South Africa. Using AI and machine-learning technology, the platform does cash reconciliation, prioritizes workflow, and delivers customized collection methods by recommending the most effective communication channels. Customers are contacted using omnichannel, in-app communication channels – including email, SMS, and call. The platform also has a payment dashboard that provides data insights and credit analysis to mitigate risks and reduce the number of bad debts.

Euler Hermes is a Paris-based credit insurance company that offers a range of bonding, guarantees, and collections services for the management of business-to-business trade receivables.