Gothenburg-based Fintower closed an oversubscribed €1.5 million seed round led by Chalmers Ventures and Akka, with participation from the Stena family and Almi.
Led by CEO Salman Eskandari and co-founder Ehsan Yazdani, Fintower develops an AI-powered financial planning and analysis (FP&A) platform that replaces fragile, manual spreadsheets. By integrating with accounting, HR, and CRM tools, the system connects financial models directly to operational drivers like sales and personnel. This focus on standardizing fragmented corporate data into a single source of truth aligns with the “context layer” logic seen in Qontext’s enterprise AI infrastructure.
Market Signal
- The Operational Alpha: Fintower solves the “Accounting-Reality Gap.” Unlike legacy ERPs built around static charts of accounts, Fintower’s model is built around business realities (products, sales, people). This allows finance teams to pivot from retroactive reporting to proactive decision support.
- The Consolidation Moat: By automating 90% of repetitive data entry and consolidation tasks, the platform addresses a primary productivity drain where 41% of finance teams currently waste time double-checking data. This “Intelligent Workforce” approach positions Fintower as a core productivity layer.
- The Model Rigidity Risk: A primary execution hurdle is “Formula Flexibility”; for Fintower to fully replace Excel, it must prove that its models can handle the extreme, non-standard logic often found in the custom “spreadsheet mazes” of larger enterprises.
Key Details
- Funding: €1.5M
- Lead Investor: Chalmers Ventures, Akka
- CEO: Salman Eskandari
- Use Case: AI-driven financial planning, analysis, and automated reporting
