Neno, a Dutch AI-native financial services platform for SMEs, has raised €6.6 million in Seed funding led by AlleyCorp, with participation from Motive Partners, Firstminute Capital and angel investors from companies including Juni, Mollie, Deel, PayPal, Coinbase and Hugging Face. The financing will support development of Neno’s AI-powered accounting infrastructure, commercial expansion in the Netherlands and future European growth.
Building an AI-Native Financial Platform
Neno targets Europe’s SME accounting market with a unified workspace built around an agentic general ledger. The platform brings together business banking, cards, bill payments, bookkeeping, tax and payroll, using AI to automate reconciliation, compliance and reporting. Neno says the technology makes reconciliation and VAT preparation five times faster for in-house accountants while saving customers an average of eight hours of administrative work per month and 20% on annual accounting fees.
Luc Ryan-Schreiber, investor and board member at AlleyCorp, said: "AI-native financial infrastructure with embedded professional services is one of the most compelling opportunities in modern fintech today. Neno is reengineering the role of accountants and tax advisors, disrupting a fifty-year-old professional services model. The team's domain depth, and their ability to become a category leader in AI-native financial services, were the deciding factors for us."
Hugo Bongers, Partner at Motive Partners, added: "Finished work in AI-native financial services is exactly the category we're excited about. Executing on it requires a team that understands both the technology and the profession, and Neno's team, drawn from Adyen, Mollie, Plaid, and Big Four firms including Deloitte, EY and BDO, delivers on both fronts."
Lorcan Delaney, Partner at Firstminute Capital, said: "Europe's accounting and tax landscape is fragmented by design, different rules, filings, and formats in every market. That complexity has kept the incumbent model safe for decades, and it's exactly what an agentic general ledger is built to absorb. Nick and the team pair deep B2B fintech and Big Four experience with real AI depth to execute on that vision."
Scaling Accounting Capacity
Neno’s Atlas AI infrastructure is designed to increase the number of customers each accountant can support by providing contextualized transaction data and automating repetitive accounting processes. The company aims to enable a single accountant to manage hundreds of customers rather than the traditional client load of around 30.
Since launching in Q1, Neno has onboarded customers across SaaS, ecommerce, agencies and hospitality, including SOUS, Airweave, Rally, FeedbackFruits and Rime Finance. Revenue is growing 60% month-on-month, while customer referrals account for more than 70% of new business.
Developing Ambient AI
Part of the Seed funding will establish Neno Labs, an AI research team focused on Ambient AI. The initiative aims to move beyond AI systems that act on direct instructions toward technology that continuously monitors financial activity and takes predefined actions within customer-approved controls.
The approach could automate tasks including cash-flow monitoring, tax provisioning, bill payments and receivables management, while escalating decisions requiring human judgment.
European Expansion
Neno plans further investment in the Dutch commercial team before expanding into additional European markets from the second half of 2027. The UK, Belgium, Italy and Spain are among the markets under consideration.
The longer-term strategy targets a global AI-native financial services platform serving SMEs across Europe, Africa, Asia and the United States.