London‑based Stacks, an AI‑powered enterprise finance platform, has closed a $23 million Series A round led by Lightspeed, with continued support from General Catalyst, EQT Ventures & Growth, and s16vc – Founders for Founders Fund.
- Founded in 2024 by Albert Malikov, Stacks develops an AI-powered platform that automates and streamlines the financial close process for mid-to-large enterprises. The platform integrates with ERP systems and tools like Excel and Slack to handle tasks such as transaction matching, journal entries, reconciliations, variance analysis, and reporting.
- Customers report that Stacks reduces the time to close books by 47%, decreases manual reconciliations by 97%, and speeds up audit cycles by 33%. By automating repetitive accounting work, the platform allows finance teams to focus on strategic tasks while maintaining accuracy and audit readiness.
- In 2025, the firm raised $10 million in funding, led by EQT Ventures and General Catalyst, with participation from s16vc, to further develop its AI-powered platform, automate additional financial workflows, and expand ERP integrations.
“From day one, we focused on solving the core problem: fragmented data. By building an AI-ready data layer, we’re unlocking what’s needed to bring AI agents into operational finance, shifting CFO teams from process execution to higher-value analysis and decision-making," explains Albert Malikov, Founder and CEO of Stacks.
Details of the deal
- The Series A will enable Stacks to grow its GTM team, enhance the agentic platform, and further improve matching performance. It will also accelerate revenue growth and support the company’s ambitious plans for 2025, positioning Stacks to reach new milestones and unlock its full potential.
“Stacks is uniquely positioned to tackle some of the toughest challenges in enterprise finance. The team’s mix of technical and finance expertise from Uber and Plaid, along with the company’s remarkable traction, gives us strong conviction that they will lead the AI shift inside the Office of the CFO," claims Alex Schmitt, Partner at Lightspeed.
