AI-Focused Fintechs Secure Over $60M in Funding
Investor appetite for AI-powered financial technology remains strong, with several startups closing significant funding rounds. Stacks raised $23 million for its enterprise finance automation platform, and Inscope secured $14.5 million for its AI financial reporting tool. Additionally, property finance firm Obligo announced a $15.5 million Series A, while compliance AI agent developer Sphinx closed a $7 million seed round.
- The $23 million Series A for Stacks was led by Lightspeed, with participation from existing investors EQT Ventures, General Catalyst, and S16VC, bringing its total funding to $35 million after a $12 million seed round less than a year prior. - Inscope's $14.5 million Series A funding round was led by Norwest, with participation from Storm Ventures and existing investors Better Tomorrow Ventures and Lightspeed Venture Partners, increasing the company's total funding to $18.8 million. - Sphinx's $7 million seed round was led by Cherry Ventures, with participation from Y Combinator, Rebel Fund, Deel Ventures, and Singularity Capital. The company's AI agents operate directly within a financial institution's existing tools, eliminating the need for new systems or integrations. - Obligo's technology allows tenants to skip a traditional security deposit by connecting their bank account and passing an AI-powered financial screening. The company partners with property managers like Beam Living (StuyTown), Aimco, and Common Living. - Stacks reports that its AI-powered platform has already been adopted by over 30 enterprise customers, saving finance teams more than 100,000 hours annually by automating tasks like reconciliations and journal entries. - While overall global fintech investment dropped in 2023, AI in fintech remains a high-growth area, valued at $17 billion in 2024 and projected to reach $70.1 billion by 2033. - Inscope has seen its customer base grow by more than 500% and its annual recurring revenue increase by over 30 times in the past year, driven by adoption from accounting firms and finance teams. - The investment in "agentic" AI, as seen with Stacks and Sphinx, reflects a broader 2025-2026 enterprise AI investment cycle focused on platforms that automate complex operational workflows and address data fragmentation.
