Stacks, a London-based startup, has secured $23 million in a Series A funding round led by Lightspeed.

Stacks' Solution

Stacks aims to solve the problem of fragmented financial data in enterprises. Transaction-level information is often scattered across ERP systems, spreadsheets, data lakes, and legacy systems. This forces finance teams to resort to manual workarounds because existing platforms are slow, difficult to integrate, and not designed for AI.

Stacks has developed a data layer that connects directly to financial systems, creating a consistent and unified financial view. It also offers machine learning tools to automate workflows in the finance sector. Its clients include Future and Epidemic Sound.

The Team

Stacks was founded by Albert Malikov, a former executive at Uber and Plaid, where he focused on Plaid's European expansion.

Alex Schmitt, partner at Lightspeed, stated: "Stacks is uniquely positioned to tackle some of the toughest challenges in enterprise finance. The team’s mix of technical and finance expertise from Uber and Plaid, along with the company’s remarkable traction, gives us strong conviction that they will lead the AI shift inside the Office of the CFO."