Tracelight, a new AI company, has raised £2.7 million in seed funding. The round was led by Chalfen Ventures, with support from Acequia Capital, Inovo, EF, and industry experts like Charlie Songhurst and Suhit Gupta.
The funding aims to improve how financial analysts build and manage complex models. Tracelight blends traditional spreadsheets with the power of generative AI, making it easier for professionals to work faster and smarter.
Most financial models today still rely on Microsoft Excel. Even after 40 years, Excel remains the tool of choice for investment banks, private equity firms, and consultants. But the process of building these models is often slow and full of manual steps. Tracelight is changing that.
The tool connects large language models (LLMs) directly with spreadsheet logic. This lets AI understand and work with Excel files in a smart, helpful way. Analysts can use plain language to create formulas, check errors, and run reports without needing to change how they work.
Tracelight acts as an add-in for Excel. It removes repetitive tasks, speeds up work, and helps users avoid mistakes. Early users report saving over 90% of their time on common modelling tasks like formatting, error-checking, and building standard analyses.
Importantly, Tracelight does not replace analysts. Instead, it supports them. The system lets human experts stay in control of all key decisions. The AI helps with the heavy lifting, so analysts can focus on the parts of their work that need human thinking.
The company was started in 2024 by Peter Fuller, a former McKinsey consultant, along with Aleksander Misztal and Janek Zimoch. Misztal is a former engineer at Jane Street, and Zimoch was one of the first engineers at 11x.
Peter Fuller, co-founder and CEO, said that financial models play a central role in big corporate decisions. But until now, AI had done little to help with this work. Tracelight changes that by fitting smoothly into the tools analysts already use. The goal is to remove the boring parts of financial modelling, letting users direct powerful AI like a conductor leads an orchestra.
Aleksander Misztal, co-founder and CTO, added that financial models are often large and full of strict rules. Tracelight makes it possible for LLMs to work with these complex files. For the first time, analysts can tap into the full power of AI from within Excel.
The product has already caught the attention of top investors. Mike Chalfen of Chalfen Ventures said that Tracelight is an example of how AI can handle complex tasks without making things harder for users. Its fast adoption in high-pressure work settings shows how much potential it has.
Hank Vigil from Acequia Capital agreed. He said that while Excel is still key to global business, Tracelight is the first tool to bring modern AI into financial modelling in a natural way. It adds value without asking users to give up their trusted tools.
Tracelight is currently available through the Microsoft Add-In Store. It is designed for finance professionals, consultants, and analysts. The new funding will help the team grow, improve the product, and reach more users around the world.
As more finance professionals face growing demands, tools like Tracelight could change how they work. By keeping humans in charge while boosting speed and accuracy, the company is opening the door to a smarter future in financial modelling.
