Send statements people can interrogate.
Your Excel model stays yours. Your counterparties — LPs, sellers, partners — get live statements where every number traces to the cell that produced it. No rewrite. No migration.
- $18,400Preferred Return (8%)Waterfall!D14= 8% × capital account × period
- $2,500,000Capital AccountCapAccts!C7
›Preferred return of $18,400 = 8% annual on the $2,500,000 capital account, accrued for the quarter (Waterfall!D14).
Multi-party money runs on bespoke Excel. The people on the other side can't verify any of it.
Distribution waterfalls. Carry calculations. Earnout true-ups. The logic that determines who gets paid what lives in a workbook only one side controls. Disputes don't start with bad math — they start with opacity.
A chatbot answers the owner. A statement answers everyone else.
- Serves whoever holds the workbook
- One-shot, advisory, no record
- Approximates your formulas — answers vary run to run
- Nothing your counterparty can rely on
- Serves the people the numbers are owed to
- Recurring, versioned, permissioned
- Runs your actual formula graph — deterministic, every time
- Every figure click-traces to its cell. Liability-grade.
One engine. Every counterparty surface.
The same deterministic trace, shaped to the numbers your side of the table has to defend.
Your workbook in. Their statement out.
- 01
Upload
Drop your .xlsx — formulas, named ranges, multi-sheet references and all. We read the actual formula graph, not a flattened copy.
- 02
Map
We identify inputs, calculations, and outputs, and which cells belong on whose statement. Your formula logic stays untouched.
- 03
Publish
Each counterparty sees their own numbers — live, permissioned, current. New period? Upload data, statements update.
- 04
Trace
Any recipient clicks any figure and follows it through your model to the cells that produced it, with a plain-English explanation grounded in the formula trace.
›LPs see what changed and why — the promote moved because Q2 proceeds cleared Hurdle 2.
New period, one upload — recipients see exactly what changed and why.
Built on the open-source Formualizer engine.
A Rust recalculation engine with 400+ Excel-compatible functions, embeddable in Rust, Python, or WASM — plus spreadsheet-mcp, the agent toolkit for native recalc, dependency tracing, and verified edits. The statements run on the same engine anyone can inspect.
48 hours from workbook to live statements.
Concierge pilot: send a sanitized workbook, we map it and stand up your counterparty portal in 48 hours. Pilots are paid — $2–3k setup, then a monthly fee per recipient. If the pilot doesn't earn the subscription, walk away.