London-based Tracelight secures €3 million to develop AI engine for monetary modelling

Tracelight, a British AI firm working to make monetary fashions simpler to construct and belief, has raised €3 million in Seed funding to construct out the product, workforce and distribution to serve the world’s finance and technique professionals.

The spherical was led by Chalfen Ventures, with participation from Acequia Capital, Inovo and EF, and angels together with Charlie Songhurst (ex Microsoft head of Company Technique) and Suhit Gupta (ex-CIO Basic Atlantic and Carlyle).

Peter Fuller, Co-founder and CEO of Tracelight, mentioned: “Complicated monetary fashions underpin the entire company world’s most necessary choices. Till now, LLMs have barely touched this workflow. Tracelight is purpose-built for this; it really works seamlessly contained in the instruments analysts already belief. Our intention is to remove the complete mechanical workload of economic modelling. Our customers act as administrators and orchestrators of AI that’s rapidly turning into superhuman on the process of Excel evaluation.”

Tracelight was based in 2024 by Peter Fuller, a former McKinsey marketing consultant and Entrepreneur First workforce lead, alongside Aleksander Misztal (ex-Jane Road engineer) and Janek Zimoch (founding engineer at 11x).

Tracelight bridges the hole between monetary fashions and LLMs by turning spreadsheet logic into LLM-friendly knowledge, permitting monetary analysts and consultants to harness the advantages of Gen-AI when constructing advanced monetary fashions.

By integrating straight into the spreadsheet workflow and enhancing how LLMs interpret and work with Excel, Tracelight reportedly eliminates repetitive modelling duties. From writing advanced formulation and validating fashions to autonomously operating evaluation from easy pure language prompts, it’s a pressure multiplier for analysts, augmenting their abilities with AI, letting them mannequin quicker and smarter while not having to vary the best way they work.

Aleksander Misztal, Co-founder and CTO of Tracelight, added: “The monetary fashions utilized by buyers, consultants, bankers and company finance professionals are giant, logically advanced, and formatted in response to strict guidelines. Our know-how unlocks the complete reasoning energy of frontier LLMs on these information; for the primary time, Excel monetary modellers will be capable to faucet into the ability of frontier AI fashions straight of their present workflow.”

Complicated monetary fashions are the hidden structure of world finance, shaping mergers, investments, and strategic choices price trillions. But, Tracelight says it’s a world largely untouched by the AI revolution. The instruments underpinning monetary modelling have slowly developed in many years – with Microsoft Excel, the spreadsheet platform nonetheless on the coronary heart of most modelling, celebrating its fortieth anniversary this September.

Since launch, Tracelight has gained early traction amongst analysts at funding banks, personal credit score funding and personal fairness homes {and professional} providers corporations. Early customers are reporting >90% time financial savings on laborious modelling duties like constructing widespread analyses, formatting, and discovering errors.

Mike Chalfen, Solo VC at Chalfen Ventures, mentioned: “Essentially the most magical AI instruments work on the highest degree of abstraction, making them radically straightforward to undertake, whereas understanding and executing advanced work beneath the hood. Tracelight does that. It has taken the world’s most generally used modelling platform and embedded AI the place it may have instant affect. And its speedy adoption by analysts in demanding modelling environments exhibits simply how massive the chance is.”

Out there right this moment as an Excel add-in by way of the Microsoft Add-In Retailer, Tracelight is initially aimed toward particular person analysts, consultants, and finance professionals.

Hank Vigil, Founder at Acequia Capital, mentioned: “Excel – now 40 years previous – nonetheless holds the majority of the world’s enterprise logic. What excites me about Tracelight is how naturally it brings superior AI into the monetary modelling workflows professionals already know and belief. It’s the primary resolution that extends the ability of Excel modelling with out requiring professionals to desert the instruments they know greatest.”