Stacks, an AI-driven financial close platform, has raised $10m across two funding rounds led by EQT Ventures and General Catalyst.
The funding, which includes a $3m pre-seed round and a $7m seed round, also saw participation from s16vc and notable angel investors, including Mike Taylor, CFO of Gusto, and Simone Rüschenberg, CFO at Taktile.
Founded by former Uber and Plaid executive Albert Malikov, Stacks aims to address inefficiencies in financial close processes, which remain heavily manual and error-prone despite the availability of modern tools.
The company’s AI-powered solution streamlines workflows, integrating seamlessly with Enterprise Resource Planning (ERP) software, Excel, and collaboration tools like Slack. Stacks enables finance teams to reduce accounting risk, improve accuracy, and significantly cut down close times.
Albert Malikov, founder of Stacks, said: “I’ve seen firsthand how much time finance teams lose to manual tasks—a decade ago at Uber, we were already building data-driven tools to elevate finance into a true strategic partner, not just a back-office function.
“Today, that need is finally hitting the mainstream: finance leaders everywhere are realizing they must go beyond just closing the books and start driving strategy and innovation. At Stacks, we’re here to make that happen. Our vision is to simplify the month-end close into a single click, freeing teams up to find new revenue streams, optimize cash flow, and shape the company’s future.”
Kaushik Subramanian, partner at EQT Ventures, said: “It is uncommon to find a top quality product leader in Europe with deep experience from leading Silicon Valley businesses. EQT Ventures was looking for a company to support our thesis that financial close is mostly manual workflows and will be one of the first spaces in the ‘office of the CFO’ to be disrupted by AI. When we met Albert just over a year ago, it was just him and an idea, but we could not partner soon enough.”
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