Dimitri Raziev solved the collection puzzle

So far, clients of Dimitri Raziev and Ron Danenberg have reported over 90% collections and accounts receivable. (Photo: courtesy)

GUEST BLOG. While working for an investment fund specializing in fintechs, Dimitri Raziev noticed that B2B companies were struggling to manage late payments.

Not only was the bad debt market in terms of collections saturated, but there was also no innovative customer relationship management software to effectively manage cash flow.

“The collections industry is lagging behind in technology adoption. So we saw an opportunity to create a 21st century accounts receivable and debt collection management platform,” he says. That’s how Kolleno was born.

After his birth in the former Soviet Union, Dimitri Raziev’s family emigrated to Israel before moving to Montreal, where he studied accounting and finance at McGill University.

He then moved to London, England, where he earned 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.

Dimitri Raziev co-founded Kolleno with Ron Danenberg in 2020 to help companies navigate credit control and collections while maintaining positive customer relationships.

Thus, it provides key automated credit control functions and uses intelligent omni-channel communication to simplify B2B customer account management and billing for medium and large companies.

The office’s bespoke solution was designed to provide companies and businesses in different sectors with a 360° view of their receivables, helping them to increase their financial productivity and optimize their working capital.

Over the past 18 months, the startup has raised $7 million in seed funding from Eurazeo and Stride.VC with participation from Euler Hermes, HubSpot and several angel investors.

“By digitizing the credit control cycle, we provide a platform that allows B2B companies to speed up their customers’ payments”, explains the entrepreneur. Kolleno adds a human touch to messages using key principles from behavioral economics. With personalized omnichannel in-app communication methods such as email, text and phone calls, we make it easy to connect with customers using a smart approach to customer communication.”

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

” [Notre] 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 on time,” adds the donor.

a time saver

To accomplish these tasks, companies previously had to hire credit monitoring experts or assign additional tasks to their existing team members to manually monitor customer payment dynamics.

Your customers can now save nearly 35% of their workweek. This precious time can be devoted to higher value-added tasks.

While small businesses, or those with 30-40 customer relationships, don’t necessarily feel overwhelmed by the workload of their accounts, businesses with more than five million dollars in annual revenue need more. of the company’s technology to centralize its information on a single platform, believes the head of Kolleno.

So far, their customers have reported over 90% billing and accounts receivable.

CFOs also recognize the benefits of startup technology, which provides a constant read on a company’s cash flow.

This technology is supported by the platform’s payment gateway, accessible directly from the email or text message received by the customer, providing users with a dashboard with data insights and credit analysis to mitigate risks and reduce the number of defaults.

A fintech on the rise

Fintech also provides additional convenience by offering open API standards integration and partnering with leading ERPs and other solutions, including Oracle NetSuite, Microsoft Dynamics 365, Sage, Xero, QuickBooks and Clio, to better meet the needs of its customers. Since its launch, the company has already conquered customers in the United States, Canada, South Africa, the United Kingdom and Europe.

Kolleno is on track to acquire its first 1,000 customers and position itself as a leading global payment and cash management platform. Its seed funding will be used to expand the start-up’s capabilities to offer even more personalized services.

To help businesses thrive, the company seeks to expand product development, internalize sales and marketing, and develop meaningful partnerships across all regions.

“We look forward to continuing to support our customers’ long-term success and are grateful for the trust our investors have placed in us to deliver on our promise,” concludes Dimitri Raziev.

Karl Moore and Stephanie Ricci. Karl is an Associate Professor at the Desautels Faculty of Management at McGill University. Stephanie is a journalism student at Concordia University. Tom Berger, graduate candidate at McGill University’s Desautels School of Management, contributed to this article.

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