Revolutionizing Enterprise Finance: Stacks Raises £17m in Series A Funding Round

In the world of finance, data is king. But with fragmented data scattered across different systems and processes, it can be a nightmare for CFOs and finance teams to gather a comprehensive and accurate view of their company's financial health. This is where Stacks comes in, a revolutionary agentic platform for enterprise finance that has recently raised a staggering £17m in its Series A funding round. This significant investment is a testament to the power and potential of Stacks to transform the way businesses handle their financial operations.

The fintech group, which emerged from stealth mode just last year with a $12m (£8.9m) seed investment, has already gained significant traction in the market. Its platform connects into finance systems and uses AI agents to automate complex workflows, providing a centralized and consistent view of financial data. This not only saves time and resources for finance teams but also allows them to focus on higher-value tasks such as analysis and decision-making.

Founder and CEO of Stacks, Albert Malikov, shared that the company's primary focus has always been on solving the core issue of fragmented data in finance. By building an AI-ready data layer, they are unlocking the potential for AI agents to take over operational finance processes, freeing up CFO teams to concentrate on more strategic tasks. This shift from process execution to analysis and decision-making can significantly impact a company's financial performance and growth.

The Series A funding round was led by Lightspeed Ventures, with participation from EQT Ventures, General Catalyst, and S16VC. Lightspeed Partner Alex Schmitt expressed his confidence in Stacks, stating that the team's combination of technical and finance expertise, along with their successful market traction, makes them a strong contender to lead the AI revolution in the Office of the CFO.

This significant investment in Stacks not only shows the confidence of top venture capital firms but also signals the growing demand for innovative solutions in the finance industry. As technology continues to advance, companies must keep up with the changing landscape to stay competitive, and Stacks is paving the way for the future of enterprise finance.

In conclusion, Stacks' recent Series A funding round is a testament to its potential to revolutionize enterprise finance. With its agentic platform and AI agents, it aims to solve the core problem of fragmented data, allowing finance teams to focus on higher-value tasks. We can expect to see more groundbreaking advancements from Stacks as it continues to disrupt the finance industry.

Reference: https://www.uktech.news/news/agentic-finance-platform-stacks-raises-17m-20210419