Sofia-based Quillon raises $1.5M to develop audit-grade AI for accounting workflows

Founded in 2023 by Nikolay Dakov, Ivaylo Stefanov, and Atanas Dobrev, Quillon is based in Sofia with operations in San Francisco. The company specializes in technical accounting, a complex field that involves interpreting detailed accounting standards and preparing structured memos that must withstand scrutiny from auditors and, in some cases, the US Securities and Exchange Commission (SEC).

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This type of analysis plays a critical role in major financial decisions such as mergers, debt restructurings, and revenue recognition. Errors in this process can lead to financial restatements, regulatory investigations, and significant financial impact.

While many accountants are increasingly using general-purpose AI tools to manage workload pressures, these tools often lack proper auditability. They may produce unverified or incorrect references and fail to clearly connect conclusions with official accounting standards.

Quillon addresses this challenge through a specialised platform built on a proprietary knowledge graph of accounting standards integrated with EDGAR. The platform allows users to break down accounting questions step by step, ensuring every conclusion is directly linked to source material. It combines research, contract analysis, peer benchmarking, and memo generation into a single workflow.

The system also enables accountants to review, edit, and validate each stage of the process, ensuring human oversight while improving efficiency. Importantly, every output remains fully traceable to its original source, supporting transparency and compliance.

"For two years we've watched technical accountants try to use general-purpose AI to keep up with a workload that's outpaced hiring," said Nikolay Dakov, co-founder and CEO of Quillon.

They couldn't - because no auditor will defend output that the AI cannot cite. We built Quillon to close that gap: a workspace where the AI does the analysis, the accountant drives at every step, and every claim traces back to the exact paragraph in the standards.

The platform initially focuses on technical accounting memos, which form the foundation for most financial reporting decisions in public companies. Over time, the company plans to expand into broader financial reporting processes, including quarterly and annual disclosures.

The new funding will be used to strengthen Quillon’s engineering and go-to-market teams, helping it evolve from a research-focused tool into a full-scale platform capable of producing final deliverables and handling end-to-end accounting workflows.

About Quillon

Quillon is an AI-powered platform focused on technical accounting and financial reporting. It helps finance and accounting teams interpret complex accounting standards, prepare detailed technical memos, and support critical financial reporting decisions for public companies. The platform is designed to ensure accuracy, transparency, and auditability by linking every conclusion directly to official accounting standards and source documents. Quillon is built specifically for high-stakes financial workflows such as revenue recognition, mergers, debt restructuring, and regulatory reporting, where precision and compliance are essential. It integrates structured knowledge systems and financial data sources to help professionals work more efficiently while maintaining human oversight and regulatory reliability.