Amsterdam-based Stacks, an AI-powered workspace helping companies close their books, has announced a €2.8 million pre-Seed round followed by a fast-tracked €6.6 million Seed round.
The pre-Seed funding round was led by EQT Ventures, with the fast-tracked Seed round led by General Catalyst, with EQT Ventures doubling down on their investment. The rounds also saw participation from s16vc and prominent angel investors including Mike Taylor, CFO of Gusto and Simone Rüschenberg, CFO at Taktile.
The platform is trusted by companies such as Volt, Cleo, Juni, and Genesis. So far, Stacks has raised a total of €9.5 million in funding.
Albert Malikov, Founder of Stacks, commented: “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.”
He continues: “With AI-powered workflows, we’re eliminating tedious tasks so you can focus on the bigger picture. And we know that to truly reinvent an industry, you need a product-obsessed team that builds from the ground up, not just makes things incrementally better. The last nine months have been a blast bringing that vision to life with world-class investors and our pioneering customers—and we’re just getting started.”
Founded in 2024 by Albert Malikov, Stacks is an AI-powered workspace that shortens monthly financial close cycles, reduces accounting risk, and boosts accuracy. Founded by senior product, engineering, and finance leaders from Uber, Plaid, and Miro, it helps mid to large enterprises transform their top finance workflow—monthly close.
Every business is familiar with the end-of-month crunch that comes with book closing, which is often tedious and resource intensive. According to Stacks, although many tools are available, companies still often rely on archaic software systems as their main record-keeping, which are not fully integrated with each other. The result is fragmented data, increased manual labour, and susceptible to error.
At the same time, AI is continuing to disrupt almost every industry, with the accounting industry is no exception. Stacks offers a comprehensive solution that integrates financial processes, allowing businesses to streamline their monthly financial close with a single click.
Ruben Arnbert, CFO at Juni, added: “Since adopting Stacks, we’ve reduced our financial close time by three and a half days—a material improvement that has allowed us to utilize resources more effectively. What stood out most was Stacks’ transparency about current functionalities and future developments, a rare quality among providers. Additionally, the innovative technology and clever workflows offered a unique solution, seamlessly linking tasks, journals, and events specific to the closing process. This integration has transformed how our teams collaborate during financial close.”
Over a year ago, Malikov was Head of International Product at U.S. FinTech company Plaid; before then, he worked in a senior product role at Uber’s Money team, where he observed the majorly inefficient processes finance teams go through each month.
Fast forward less than a year, the Stacks team’s customer-centric approach has allowed them to identify what they refer to as a key issue within the finance market, leading them to quickly build a product, recruit dozens of clients, and already start generating revenue.
Stacks aims to be easy-to-adapt due to being fully integrated with Enterprise Resource Planning software systems and major vital data sources and tools, such as Excel, Slack, and others. According to Stacks, there is no need for lengthy and costly data migration projects; customers can be operational in under two weeks.
The platform handles essential compliance workflows and reduces risks with central reconciliation views. Features like AI-powered transaction matching, data ingestion, and journal entries help teams work more efficiently. Finance teams can also hire AI agents for some workflows and easily review their work through the platform.
Kaushik Subramanian, Partner at EQT Ventures, added: “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.”
Zeynep Yavuz, Partner at General Catalyst, said: “Within just six months of its launch, Stacks has delivered meaningful results for its customers. Albert’s relentless dedication to building a best-in-class product and rapidly shipping new features has driven deep customer obsession. In an industry where CFOs are cautious about adopting new tools for essential tasks like financial reporting, the positive feedback speaks volumes about the impact Stacks is making.“
Read the orginal article: https://www.eu-startups.com/2025/02/stacks-raises-e9-5-million-in-consecutive-rounds-to-simplify-financial-close/
