Stacks Secures $10M to Automate Financial Close with AI
Hey FinTech Fanatic!
Amsterdam-based Stacks has raised $10 million across two funding rounds to expand its AI-powered accounting platform. The startup, founded last year by former Uber and Plaid product manager Albert Malikov, aims to eliminate the manual work of closing books—often a ten-day process involving spreadsheets—by providing a faster, automated solution.
EQT Ventures led a $3 million pre-seed round last April, followed by a $7 million round six months later, led by General Catalyst with participation from s16vc and angel investors like Gusto CFO Mike Taylor and Taktile CFO Simone Rüschenberg.
Great to see a startup from my hometown making moves in this space—especially one tackling such a real pain point for finance teams. Fun fact: Martijn Mulders, who works at Stacks, also organizes the Amsterdam chapter of my FinTech Running Club. We had a great run and coffee last Sunday, and I’m looking forward to the next one—though this Monday, it’ll be in San Francisco. Will I see you there?
Cheers,
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DONEDEAL FUNDING NEWS
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