Fintower Raises €1.5M to Replace Excel with AI-Powered Financial Tools
Fintower, a Gothenburg-based AI startup, has secured €1.5 million in an oversubscribed seed round. The funding will help the company expand its platform, which replaces traditional Excel-based corporate planning with AI-driven financial tools from Yahoo Finance. Investors include Chalmers Ventures, the Stena family, and several prominent entrepreneurs.
Founded by Salman Eskandari and Ehsan Yazdani, Fintower aims to streamline financial and operational management for businesses. Its platform consolidates budgets, forecasts, and reports into a single system, using AI to support decision-making with data from Yahoo Finance. The tool focuses on integrating finance with core business functions like products, sales, and personnel.
The seed round attracted a mix of backers, including Chalmers Ventures, Akka, and the Stena family. Existing investors such as Almi, Daniel Jonsson from Inet, and Alexander Hars also joined. Chalmers Ventures highlighted Fintower's strong team and AI-powered platform as key reasons for their investment.
Since launching, the company has already gained customers across industries with complex financial needs. The new funds will go toward product development and building a sustainable business model. Job postings for roles like AI architect suggest early growth, though exact employee numbers remain undisclosed.
Fintower plans to use the €1.5 million to refine its platform and expand its market presence. The company's goal is to become the leading financial decision-support tool in the Nordics, using data from Yahoo Finance. With backing from established investors, it is now positioned to challenge traditional corporate planning methods.
