Swedish AI company Fintower raises €1.5 million in oversubscribed seed round
Fintower challenges old financial models where everything is managed in spreadsheets. The company uses AI to consolidate budgets, forecasts, and reports in one place. The founders have now raised €1.5 million in their latest funding round.
The Gothenburg-based company Fintower recently closed an oversubscribed seed round that attracted both new and existing investors. Among the investors are Chalmers Ventures, Akka, the Stena family through William Olsson, as well as several entrepreneurs and angel investors. Existing investors include Almi, Daniel Jonsson from Inet, and Alexander Hars. In total, €1.5 million was raised.
“The interest in this round was high, and we needed to expand it. Unfortunately, not everyone who wanted to join could participate, which shows that what we are building meets a real need. The market is ready to move away from Excel-based planning and is demanding modern tools for analysis and decision support,” says Salman Eskandari, co-founder of Fintower.
Together with Ehsan Yazdani, he founded Fintower with the ambition to change the way companies work with finance. Today, much of corporate planning is still done in manual spreadsheets, making analyses slow, fragile, and difficult to update when reality changes. Instead of spreading data across multiple systems and spreadsheets, their tool consolidates budgets, forecasts, and reports into a single place. Using AI, users can, for example, understand what drives revenue or simulate the effects of different changes without having to work across multiple separate systems.
“Many financial systems are built around accounting charts, not the realities of the business. We have focused on products, sales, and personnel, connecting finance and operations in the same system,” says Ehsan Yazdani, co-founder of Fintower.
Since its first funding round, Fintower has attracted customers across various industries, including tech and software, credit institutions, retail, and the energy sector. What these companies have in common is high demands for order and control in both financial and operational management, often in environments with external funding and a clear growth focus. The capital from the new round will be used to further develop the product and build a sustainable business around the existing solution.
“Finance departments are undergoing change. Repetitive work will increasingly be automated, and AI will become a tool for analysis and decision support. Our goal is for Fintower to become the leading platform in the Nordics,” explains Ehsan Yazdani.
Chalmers Ventures, one of the investors in the round, also sees great potential in the company.
“Fintower helps growth companies take the step from Excel to intelligent financial decision support. With its AI-based platform and a team that combines deep technical expertise with strong business understanding, the company is well-positioned to scale efficiently and create long-term value,” says Jonas Bergman, Investment Director at Chalmers Ventures.
About Fintower
Fintower is a Swedish software company developing an AI-driven platform for financial planning, analysis, and reporting. The company helps growth businesses, finance teams, and investors consolidate budgets, forecasts, scenario planning, and financial tracking in a single system, as a modern alternative to spreadsheets and manual processes. Fintower was founded in Gothenburg and is used by companies seeking better control, increased transparency, and faster decision support in their operations.
About Chalmers Ventures
Chalmers Ventures is a leading Tech Investor and Venture Builder in the Nordics, dedicated to creating global growth companies and taking new technology from lab to market. The focus is on university spin-outs and deep tech. We employ a unique dual approach that integrates venture creation with tech investments, harnessing the potential of new research and deep tech within Chalmers. Our expertise lies in initiating and nurturing companies from groundbreaking research, ensuring a robust pipeline of high-quality ventures in which we invest and act as active owners. Our involvement extends through the entire company lifecycle until exit, with the aim to generate substantial business success and make a positive global impact.
