A new wave of artificial intelligence is beginning to reshape how large organisations manage their finances, and London based startup Stacks is positioning itself at the centre of that shift. The company has secured $23 million in Series A funding as it accelerates the rollout of its AI driven platform for enterprise accounting teams, reflecting growing demand for automation inside the office of the CFO.
Series A fuels next phase of growth
The Series A round was led by Lightspeed, marking the firm’s first investment in Stacks, with continued backing from EQT Ventures, General Catalyst, and S16VC. The raise comes just a year after the company closed a $12 million seed round, bringing total funding to $35 million.
Stacks was originally founded in Amsterdam and is now headquartered in London, where it is building a platform designed specifically for large and complex finance organisations. The new capital will be used to expand product development, scale enterprise deployments, and further automate core accounting workflows using AI.
Solving fragmented enterprise finance data
Enterprise finance teams often struggle with fragmented data spread across ERPs, spreadsheets, data warehouses, and legacy systems. These environments are typically slow to integrate and were not designed to support AI native workflows, leaving teams dependent on manual reconciliations and workarounds.
Stacks addresses this challenge by creating a unified data layer that connects directly to existing finance systems. The platform provides a single and consistent financial view across an organisation, enabling teams to work with accurate, transaction level data without needing to replace their existing infrastructure.
By focusing on the data foundation first, Stacks aims to make finance systems more flexible, interoperable, and ready for automation at scale.
AI agents for the office of the CFO
On top of its data layer, Stacks has developed machine learning tools designed to support reliable automation in large enterprises. The company is deploying AI agents that automate workflows across the finance stack, reducing repetitive manual tasks and accelerating processes such as reconciliations, reporting, and analysis.
Rather than offering isolated features, the platform is built to operate across the full finance workflow, helping accounting teams move faster while maintaining accuracy and control. This approach is particularly relevant for global companies managing high transaction volumes and complex reporting requirements.
Stacks already serves around 30 enterprise customers, including publisher Future and music company Epidemic Sound, demonstrating early traction among organisations looking to modernise their finance operations.
Founded by former Uber and Plaid leader
Stacks was founded by CEO Albert Malikov, who previously held senior product leadership roles at Uber and Plaid. At Plaid, he played a key role in scaling the company’s European business, gaining first hand experience with complex financial infrastructure and large scale data systems.
That background has influenced Stacks’ focus on enterprise grade reliability and scalability, combining deep technical expertise with an understanding of how finance teams operate in practice.
Investor confidence in AI led finance transformation
Lightspeed partner Alex Schmitt said the firm was drawn to Stacks’ ability to address some of the hardest problems in enterprise finance. He highlighted the founding team’s experience and the company’s early customer traction as key reasons for leading the round.
According to Schmitt, Stacks is well positioned to become a core platform as AI adoption accelerates within finance departments, where accuracy, trust, and system integration are critical.
Looking ahead
With fresh funding in place, Stacks plans to continue building automation capabilities across accounting and finance functions, while expanding its presence among large enterprises in Europe and beyond. As AI becomes an increasingly strategic priority for CFOs, the company aims to establish itself as foundational infrastructure for the next generation of enterprise finance operations.
