Stacks, the AI-powered workspace transforming how businesses close their books, has announced a combined $10 million in funding following a $3 million pre-seed round led by EQT Ventures and a fast-tracked $7 million seed round led by General Catalyst. EQT Ventures doubled down on its investment, joined by s16vc and prominent angel investors, including Mike Taylor, CFO of Gusto, and Simone Rüschenberg, CFO at Taktile.
Stacks aims to tackle a universal pain point for finance teams—the tedious and error-prone process of monthly book closing. Despite the availability of various financial tools, many businesses still rely on outdated software that is not fully integrated, leading to fragmented data, excessive manual work, and increased risk of errors. Stacks addresses these inefficiencies with an AI-powered solution that seamlessly integrates financial workflows, enabling finance teams to close their books with a single click.
Founded by Albert Malikov, formerly Head of International Product at Plaid and a senior product leader at Uber’s Money team, Stacks was born out of first-hand experience with the inefficiencies of financial close processes.
“At Uber, we were already building data-driven tools to elevate finance from a back-office function to a true strategic partner. Today, finance leaders must go beyond closing the books—they need to drive strategy and innovation. Stacks is here to make that happen,”
Malikov said.
Within just six months of its launch, Stacks has already secured dozens of clients and begun generating revenue. Its founding team includes experienced leaders from Uber, Plaid, Miro, and Mollie, with a deep focus on product development and AI-driven automation.
AI-Powered Automation for Faster Financial Close
Stacks integrates with Enterprise Resource Planning (ERP) software, Excel, Slack, and other key data sources, eliminating the need for costly and time-consuming data migration projects. The platform’s AI-driven capabilities include:
- AI-powered transaction matching
- Automated data ingestion and journal entries
- Central reconciliation views for compliance
- AI-driven workflows that reduce manual work
These features allow finance teams to complete month-end closes significantly faster. Juni CFO Ruben Arnbert highlighted Stacks’ impact, stating:
“Since adopting Stacks, we’ve reduced our financial close time by three and a half days, optimizing our resources and improving transparency in financial reporting.”
Investor Confidence in AI-Driven Finance Transformation
The funding rounds saw strong investor confidence in Stacks’ potential.
Kaushik Subramanian, Partner at EQT Ventures, noted,
“Financial close is one of the first areas within the CFO’s office to be disrupted by AI. We met Albert when Stacks was just an idea, and we couldn’t partner soon enough.”
Zeynep Yavuz, Partner at General Catalyst, added,
“Albert’s relentless focus on building a best-in-class product and shipping new features quickly has created deep customer loyalty. In an industry where CFOs are cautious about new technology, Stacks’ rapid adoption speaks volumes.”
With this fresh capital, Stacks plans to expand its product capabilities and scale its AI-driven financial close solution to more enterprises worldwide.
About Stacks
Stacks is an AI-powered financial workspace that streamlines the monthly close process, reduces accounting risks, and enhances accuracy. The platform is trusted by leading companies such as Volt, Cleo, Juni, and Genesis. Backed by General Catalyst, EQT Ventures, and s16vc, Stacks is reshaping finance teams’ workflows with cutting-edge AI automation.
