Founders Everywhere: Richard Lee
Richard Lee is the founder & CEO of Domeo, a modern accounts receivable (AR) platform that helps mid‑market businesses collect invoices faster and manage cash flow more efficiently.
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Mid-market businesses that make, move, or sell physical goods (aka the Real Economy) often struggle with slow collections, manual workflows, and rigid software that leave finance teams juggling spreadsheets and workarounds. Domeo is tackling these challenges with an accounts receivable (AR) platform that helps finance teams get paid faster using simple, elegant tools that integrate seamlessly with existing systems. Domeo goes live in days, so businesses can focus on what really matters: collecting cash without complexity, bloat, or hype.
Founder and CEO Richard Lee brings decades of experience bridging finance and technology. Before founding Domeo, he spent nearly 15 years on Wall Street and 10 years as an operator at LSQ, where he worked closely with finance teams across mid-sized, real-economy companies in sectors ranging from apparel and manufacturing to logistics and staffing. That hands-on experience gave him a deep understanding of the unique challenges these teams face and inspired him to create Domeo.
Why Domeo, and why now?
After a decade in accounts receivable and accounts payable, it became obvious there was a big technology gap for mid‑market companies outside of SaaS and tech. That’s why I started Domeo, launching in mid‑2025: to build modern, practical tools for these overlooked finance teams.
What’s Domeo’s North Star?
Our North Star is simple: help mid‑market finance teams collect cash (their oxygen) faster and with less pain. Most of the distress I’ve seen in businesses over the past decade has been driven by cash issues, not lack of demand or product. If we can materially improve their cash conversion cycle and make collections less manual and stressful, we’re doing our job.
Why is Domeo going to win?
I don’t think in “winner‑takes‑all” terms; the market is big, diverse, and there will be multiple successful companies. Our focus is on serving a specific customer really well: mid‑market, real‑economy businesses that are often under‑served by software. We recognize that trust in software has eroded. Many CFOs feel over‑promised and under‑delivered to, stuck with expensive tools, auto‑renewals, and more manual work than they expected. That reality heavily shapes how we price, implement, and build Domeo.
Our formula is deliberately simple:
Make implementation fast and free. No 12‑month IT projects or billable professional services. Every customer goes live in under five days.
Keep the product elegant and easy-to-use. No over‑engineering or feature bloat.
Layer in AI only where it’s practical and pragmatic, guided by real customer pull, not hype.
Why the name Domeo?
I have to give credit to my wife for the name. She’s Greek and domeo means “to build (a house)” in ancient Greek.
How has your background influenced you as a founder?
I’m a Korean‑American, born in the US to South Korean parents, and I moved between Seoul and the US a lot as a kid. From kindergarten through eighth grade, I attended six different schools. At the time it just felt normal, but looking back, constantly starting over probably made me resilient and comfortable with change. Professionally, having seen both Wall Street and operator life inside a mid‑market fintech makes me deeply empathetic to CFOs in the trenches.
Fun Fact:
My personal outlet has become learning to cook Korean soups. In Korea, you have soup with every meal, so it’s a meaningful way to pass my culture on to my kids and it’s also a nice counterbalance to startup life.
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