Stockholm’s Grasp: Revolutionizing Productivity Tools for Finance Professionals with €6 Million Investment

Grasp, the AI Startup Revolutionizing Investment Banking and Management Consulting

Grasp, an innovative AI startup based in Sweden, is making waves in the finance industry by automating investment banking and management consulting tasks using cutting-edge multi-agent systems. The company recently announced that it has secured €6 million in Series A funding, with Octopus Ventures leading the round and existing investor Yanno Capital also participating. This latest funding brings Grasp’s total funding to €7.7 million and marks a significant milestone in the company’s growth.

CEO and co-founder of Grasp, Richard Karlsson, shared insights into the company’s journey, stating, “At McKinsey, we spent over 90% of our time on manual work – reading reports, building excel models, creating presentations. Together with Simon, who brought critical AI expertise from Ericsson, we realized AI had the potential to completely transform this $1.4 trillion market of human-intensive finance work. Five years later, we’re proving this thesis.”

Grasp’s success is reflective of a larger trend in the industry, with several comparable rounds showcasing investor confidence in platforms leveraging AI to streamline knowledge-intensive work. Companies like Light in Denmark, Finary in France, and Saturn in London have all raised substantial funding to enhance their AI-powered solutions in the finance sector.

Notably, Sweden’s EvoluteIQ secured €44 million to further develop its agentic-AI enterprise platform for banking and financial services, underscoring the country’s position as a hub for innovation in this space.

Grasp’s unique approach to automation has resonated with customers, leading to significant growth and a diverse client base spanning 30 countries. The company’s multi-agent AI system, developed by former McKinsey consultants and an Ericsson AI engineer, replicates complex human tasks with precision, delivering tailored solutions for investment banks, management consultants, and private equity firms.

With a 3.5x Annual Recurring Revenue (ARR) growth over the past year and nearly 200 customers, including major consulting firms, Grasp is poised for continued expansion. The latest funding injection will support the company’s expansion plans and the growth of its product and sales teams.

Grasp’s platform seamlessly integrates domain-specific AI systems with trusted tools and datasets, enabling teams to produce higher-quality output efficiently. By automating manual tasks and surfacing valuable insights, Grasp is at the forefront of vertical AI in finance.

Rich Bolton, Principal at Octopus Ventures, commended Grasp’s progress, stating, “Their strong traction and client wins demonstrate the power of their technology and the urgent need for such solutions in the financial sector. We’re excited to support a team with deep domain expertise and a clear vision for transforming financial work processes.”

Grasp’s mission to automate knowledge work in finance has garnered strong support from investors like Yanno Capital, who remain confident in the company’s potential to revolutionize the industry.

As Grasp continues to disrupt the finance sector with its AI-driven solutions, the company’s growth trajectory and commitment to innovation position it as a key player in the evolving landscape of financial services.