London-based Tracelight Raises €3 Million Funding

The seed round was led by Chalfen Ventures, with backing from Acequia Capital, Inovo, and EF, along with notable angels like Charlie Songhurst (former Head of Corporate Strategy at Microsoft) and Suhit Gupta (former CIO at General Atlantic and Carlyle).

Peter Fuller, Co-founder and CEO of Tracelight, said: “Complex financial models underpin all of the corporate world’s most important decisions. Until now, LLMs have barely touched this workflow. Tracelight is purpose-built for this; it works seamlessly inside the tools analysts already trust. Our aim is to take away the entire mechanical workload of financial modelling. Our users act as directors and orchestrators of AI that is quickly becoming superhuman at the task of Excel analysis.”

Founded in 2024 by Peter Fuller (former McKinsey consultant and Entrepreneur First team lead), Aleksander Misztal (ex-Jane Street engineer), and Janek Zimoch (founding engineer at 11x), Tracelight is reshaping how financial models interact with Gen-AI.

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The platform translates spreadsheet logic into LLM-friendly data, enabling analysts and consultants to use AI seamlessly within their existing workflows.

By plugging directly into Excel, Tracelight helps automate repetitive tasks—from generating complex formulas and validating models to running analyses using natural language prompts. It acts as an AI-powered co-pilot, letting finance professionals work faster and smarter without changing how they build models.

Aleksander Misztal, Co-founder and CTO of Tracelight, added: “The financial models used by investors, consultants, bankers and corporate finance professionals are large, logically complex, and formatted according to strict rules. Our technology unlocks the full reasoning power of frontier LLMs on these files; for the first time, Excel financial modellers will be able to tap into the power of frontier AI models directly in their existing workflow.”

Complex financial models quietly power the global economy—guiding mergers, investments, and strategies worth trillions. Yet, according to Tracelight, this critical domain remains largely untouched by the AI wave. The core tools of financial modelling have changed little over decades, with Microsoft Excel—turning 40 this September—still at the center of it all.

Since its launch, Tracelight has quickly gained traction with analysts at investment banks, private equity and credit firms, and professional services. Early adopters report over 90% time savings on repetitive tasks like building standard analyses, formatting, and error detection.

Mike Chalfen, Solo VC at Chalfen Ventures, said: “The most magical AI tools work at the highest level of abstraction, making them radically easy to adopt, while understanding and executing complex work under the hood. Tracelight does that. It has taken the world’s most widely used modelling platform and embedded AI where it can have immediate impact. And its rapid adoption by analysts in demanding modelling environments shows just how big the opportunity is.”

Now available as an Excel add-in through the Microsoft Add-In Store, Tracelight is designed primarily for individual analysts, consultants, and finance professionals.

Hank Vigil, Founder at Acequia Capital, said: “Excel – now 40 years old – still holds the bulk of the world’s business logic. What excites me about Tracelight is how naturally it brings advanced AI into the financial modelling workflows professionals already know and trust. It’s the first solution that extends the power of Excel modelling without requiring professionals to abandon the tools they know best.”

About Tracelight

Tracelight is an AI engine built to supercharge financial analysts in Excel. Designed to seamlessly fit into existing workflows it simplifies complex modelling tasks and boosts productivity. Now available at tracelight.ai and on Microsoft AppSource, it empowers analysts to work faster, smarter, and more efficiently.