Stacks Secures $23 Million Series A to Automate Enterprise Accounting with Agentic AI

Stacks, a fintech firm specializing in AI software for accounting, has raised $23 million in Series A funding. Lightspeed Venture Partners led the round, with support from EQT Ventures, General Catalyst, and S16VC. The investment aims to modernize the office of the CFO by replacing legacy systems with autonomous technology that simplifies complex financial tasks. This funding brings the company's total capital to approximately $35 million following a previous seed round.

Advancing Agentic AI

The company utilizes what it calls Agentic AI to observe and learn from human accountants. Unlike traditional rule-based software, these agents adapt to complex scenarios such as currency fluctuations and missing data. This technology integrates with a proprietary Financial Data Layer that normalizes information from ERPs and spreadsheets. This approach ensures that the AI remains reliable and grounded in accurate figures rather than making errors.

New Tools for Financial Reporting

Along with the funding, Stacks introduced AI Flux Analysis to automate monthly reporting. This tool identifies variance drivers and generates narratives to explain financial changes to leadership. It helps reduce reporting cycles from days to just a few minutes for enterprise clients. By automating these narratives, finance teams can spend more time on strategy and less on data collection.

Scaling for the Future

CEO Albert Malikov plans to use the capital to expand the engineering team and scale product offerings across the globe. Stacks currently serves over 30 enterprise clients, including Pleo and Epidemic Sound, saving them thousands of hours annually. The startup aims to become the primary operating system for modern finance departments. More information on their recent deal can be found at https://www.axios.com/pro/fintech-deals/2026/02/19/stacks-23m-series-a-ai-accounting.

Market Impact

The startup, founded in Amsterdam and headquartered in London, represents a growing trend of European fintech firms attracting top-tier US venture capital. By focusing on a clean data layer first, Stacks ensures that its AI outputs remain reliable for enterprise-grade compliance. This strategy positions the company to challenge established legacy players like BlackLine and OneStream in the high-stakes accounting software market.