Sterling Raises $3.15M for AI Finance Automation

New Zealand-based startup Sterling has successfully closed a NZ$3.8 million (approximately US$3.15 million) seed funding round, signaling strong investor confidence in its AI-driven automation solutions for finance departments. The capital infusion was spearheaded by prominent venture capital firm Blackbird, with significant backing from a cohort of influential New Zealand tech founders and investors, including individuals associated with industry giants like Trade Me, Pushpay, Xero, and Vend. This strategic investment is set to accelerate Sterling's growth, particularly in expanding its reach to larger enterprise clients across New Zealand, Australia, and the United States.

Founded in 2025 by Nik Wakelin and Ludwig Wendzich, Sterling is developing an AI-powered platform designed to act as an 'autopilot' for financial operations. The technology aims to streamline critical tasks such as invoice processing, bank reconciliations, and month-end closing procedures, allowing finance and accounting teams to deploy automated workflows within minutes. By integrating seamlessly with existing financial tools, including ERP systems and accounting inboxes, Sterling provides a documented and transparent approach to AI implementation, a key differentiator in a market increasingly seeking explainable AI solutions.

The inspiration behind Sterling stems from the founders' deep understanding of the challenges faced by finance professionals. Both Wakelin and Wendzich have extensive experience in building and scaling software companies, with backgrounds at organizations like Vend, Lightspeed, and Apple. This collective expertise, honed at leading New Zealand tech firms, fuels their mission to empower the operational backbone of businesses. As Wendzich noted, the team comprises individuals who have "learned how to build world-class software from New Zealand," now applying that knowledge to enhance the efficiency of finance teams.

Sterling's platform distinguishes itself from typical AI assistants by offering a true 'autopilot' functionality. Unlike co-pilot tools that require constant user interaction, Sterling's system operates autonomously, handling routine tasks even when users are offline. This focus on delivering tangible, automated work rather than conversational interfaces addresses a core need for finance teams seeking to reduce manual effort and elevate their strategic contributions. Early adopters, including companies like Manukora, Storypark, and Echelon, have already begun leveraging Sterling's capabilities, with the startup also benefiting from a government R&D grant to support its development.

The broader financial technology sector is witnessing a significant shift driven by AI adoption. Industry projections indicate that AI's impact on accounting workflows will be transformative, enabling a move from operational execution to more strategic financial planning and analysis. Sterling's ambition to facilitate this transition positions it at the forefront of this evolution. The company plans to utilize the new funding to bolster its engineering and sales teams, with a specific focus on capturing a larger share of the enterprise market. This strategic expansion is expected to solidify Sterling's position as a key player in the rapidly growing fintech automation space.