AI agents for financial due diligence
A new way to do due diligence.
Messy seller exports in. Source-linked workpapers out: EBITDA bridge, net debt, NWC peg. Done in hours.
Backed by Y Combinator
Built for QoE boutiques · transaction advisory · ETA diligence
Today's reality
Diligence teams are stuck between two bad options.
OPTION A
Throw analysts at messy exports.
Senior people spend nights re-keying trial balances before analysis even starts.
OPTION B
Point generic AI chat at the data room.
Chat can summarize a contract. It cannot build a workpaper or defend an add-back.
Both leak margin. Teams lose 8–15 hours per engagement before analysis begins.
See it in action
90 seconds. One EBITDA bridge, start to finish.
Watch Numeri take a seller's add-back claim, re-derive it against the ledger, and let the reviewer decide — live, on real data.
The three FDD workstreams
Built around the numbers that move deal value.
Every engagement comes down to three numbers in the equity bridge. Our agents organise around them.
01Quality of Earnings
Bridge AgentAgents draft the normalisation and pro-forma adjustments, each with a source row, rationale, and confidence level.
At an 8.0× multiple, every accepted $1 moves enterprise value by $8.
02Net Debt
Cash AgentAgents sweep the trial balance and agreements for debt-like items the reported number misses: trapped cash, accrued interest, rent-free accruals.
Dollar-for-dollar impact on equity value.
03Net Working Capital
Cash AgentAgents build monthly NWC, normalise distortions, and propose a defensible 12-month median peg.
Dollar-for-dollar impact on equity value.
Every line is a workstream. Every workstream lands as an Excel workpaper.
Agents as a service
You hire a team instead of learning software.
Five agents staff the grunt work of an engagement. Exports in, source-linked Excel workpapers out. Your reviewers approve every finding.
How it works
A first pass you can defend, every step shown.
01
Upload the exports
Trial balance, GL, bank statements, agings. Excel, CSV, or PDF. No integrations needed.
02
Agents build the first pass
Bridge, proof of cash, red flags. Every number tied to a source row.
03
Your reviewer decides
Accept, reject, or edit every finding. Nothing ships without your judgment.
04
Export the workpapers
Excel workpaper pack, red-flag log, draft narrative, source index.
Your team stays in charge. A traceable first pass turns doers into reviewers.
Second product · For the sell side
Mandate Screener: know if the deal is worth taking.
For M&A advisors and boutique investment banks fielding inbound owner calls. Drop in a management P&L — or three numbers and a business description — and get an internal screening memo in hours, with under thirty minutes of your own time: an adjusted-EBITDA range, an indicative valuation from cited comparable transactions, an estimated fee, and a reasoned take / decline / conditional recommendation.
An EBITDA range you can defend
Owner compensation and related-party rent normalized to market, a haircut on unverified one-timers, and “one-time” costs that recur get caught.
Valuation anchored to cited comps
An indicative multiple and enterprise-value range from comparable transactions. Thin comp sets widen the band instead of faking precision.
A sellability scorecard
Customer concentration, owner dependence, revenue quality, add-back reliance — each rated with the evidence behind it, or marked unknown.
A partner decides, always
Take, decline, or conditional — the screen recommends, a partner approves or overrides in a queue, and every decision is logged.
Screen numbers stay internal: memos are watermarked, and rough figures are blocked from ever reaching a client-facing deck. When a deal is a take, it converts into a full diligence engagement in one explicit step.
In pilot with early design partners
or talk to usInternal screen · not for client use
Illustrative
Screening memo
Take · conditionalAdj. EBITDA band
$4.1M – $4.6M
Indicative EV
5.5× – 7.0× · $23M – $32M
Est. advisory fee
$0.9M – $1.2M
Top client is 34% of revenue
“One-time” legal fees recur in all 3 years
Owner comp normalized −$310k
What this screen did not doNo proof of cash, no working-capital peg, no per-transaction testing. That is the full engagement, after you take the mandate.
Watch it run
One inbound deal, screened start to finish.
Questions
Asked by partners we meet.
Quality of earnings, net debt, and net working capital, plus the supporting analyses: historical trading, customer concentration, product and service line, cash flow and capex, and forecast review.
Design partners
Run it on a real engagement.
We are onboarding a small group of design partners. Bring a historical engagement and measure the hours saved yourself.
Pick a time that suits you.
Thirty minutes with the team. No prep, no deck required.
Talk to usPrefer email? Write to the founders
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