Every business is familiar with the end-of-month crunch that comes with book closing, which is often tedious and resource intensive. 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 and 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.

Just over a year ago, founder Albert Malikov was Head of International Product at US fintech, 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 a key issue within the finance market, quickly build a product, recruit dozens of clients, and already start generating revenue. Albert has carried this work out alongside a growing, experienced product centric founding team, who come from leading disruptors in Uber, Plaid, Miro, and Mollie.

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 realising 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, optimise 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.”

Stacks is 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. 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 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."

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 utilise 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."

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