Amsterdam-based AI-native financial services
company Neno has raised €6.6 million in seed funding to develop its technology,
expand its accounting and tax services and enter additional European markets.
The round was led by New York-based early-stage venture fund AlleyCorp, with
participation from Motive Partners, Firstminute Capital and a group of angel
investors, including executives from Hugging Face, Mollie, Juni, Deel, Miro,
Coinbase, PayPal and Navro.
Launched in the first quarter of 2026, Neno
provides AI-native financial services to small and medium-sized enterprises,
combining accounting, tax and financial administration through a single
platform. The company has grown to almost 200 customers since its launch.
Neno operates in a market where more than half
of Europe’s 26 million SMEs outsource accounting, payroll and tax obligations
to professional service providers, representing an industry worth around €200
billion annually.
According to the company, fragmented workflows across
banking, accounting, tax and payroll make it difficult for businesses to obtain
contextual financial information, while a shortage of accounting professionals
is putting pressure on the traditional service model.
To address these challenges, Neno has
developed an AI-native workspace built around a real-time agentic general
ledger (AGL). The system brings together data from business bank accounts,
corporate cards, bill payments and receivables into a single system of record,
providing its accountants with contextualised financial information.
The platform uses this data to automate and
accelerate processes including reconciliation and VAT preparation. Neno says
the technology enables these tasks to be completed up to five times faster,
while customers save an average of eight hours of administrative work per month
and around 20 per cent on annual accounting fees.
Instead of business owners coordinating
between banks, bookkeepers, and tax advisors, we deliver a single
‘done-for-you’ state of work where reconciliation, compliance, and reporting
happen automatically in the background. The business owner’s only touchpoint is
reviewing what’s already been handled,
explained Nick Knuppe, founder and CEO
of Neno.
Rather than seeking to replace accountants,
Neno is using AI to increase the number of businesses each accountant can
support. Its infrastructure is designed to give accountants a more complete
view of customer transactions while automating administrative processes that
would otherwise require manual work.
We do not replace accountants, but we expand
their capacity. This enables a single Neno accountant to manage hundreds of
customers instead of the traditional thirty, without compromising on advisory
quality,
said Knuppe.
The new funding will support the launch of
Neno Labs, which will focus on research and development around Ambient AI. Neno
will also increase the capacity of its accounting, tax services and
go-to-market teams, while preparing to expand into additional European markets
in 2027.