Rogo Technologies, an AI platform designed for investment banks, has announced the acquisition of Subset, an AI spreadsheet company previously backed by Index Ventures, in a strategic move to advance its mission of modernizing core financial workflows for investment bankers and investors.
The acquisition aims to accelerate Rogo’s capability to deliver an AI-native spreadsheet experience. This enhanced offering will automate modeling tasks, explain and rectify financial models, and seamlessly connect analysis to various downstream deliverables.
Subset, co-founded by Jason Chan and AJ Nandi, developed an AI spreadsheet engine that enables users to upload, build, and export fully functional financial models with AI assistance. The founders bring a blend of finance, AI, and product development expertise; Jason previously worked in investment banking at Bank of America and private equity at Providence Strategic Growth, while AJ studied computer science at the University of Pennsylvania and invested at Insight Partners.
Gabe Stengel, co-founder and CEO of Rogo, commented on the acquisition, stating, “Spreadsheets are a cornerstone of the finance industry but established tools haven’t kept up with modern technology. With Subset, we’re pairing the right technology and founders with Rogo’s models and platform to make the daily work of bankers and investors dramatically faster and more reliable.”
By integrating with Rogo, Subset’s technology will become an integral part of a connected workflow suite tailored to the actual working methods of bankers and investors. Rogo’s proprietary model and dataset are expected to enhance the accuracy, traceability, and usability of AI spreadsheets, ensuring the agent is integrated across the entire workflow, connected to relevant data and outputs, rather than functioning as a standalone solution.
Jason Chan and AJ Nandi, Co-Founders of Subset, expressed their outlook: “We started Subset to make spreadsheet work exponentially more powerful for finance. With Rogo’s model, dataset, and workflow suite, we can deliver that vision at real scale: bringing an AI‑native spreadsheet experience to the world’s top dealmakers and investors.”
Rogo’s Finance Spreadsheet Agent is designed with several core functionalities. These include automating modeling tasks such as model builds from source documents, roll-forwards, scenario and sensitivity analysis, and audit and error detection. It can also explain and fix any cell or formula with complete traceability, connect to various data providers including S&P Capital IQ, FactSet, PitchBook, and Refinitiv, as well as private data sources via secure connectors. Furthermore, it supports the hand-off to deliverables by converting analysis into polished slides and memos.
Rogo is recognized as an AI platform for investment banks, private equity firms, and hedge funds. Global financial institutions such as Lazard, Moelis, Nomura, and Tiger Global utilize Rogo for optimizing workflows and business development. The platform’s AI models and agents automate core financial workflows, extract market intelligence through research and screening, and unify financial data at scale with auditable sourcing. Rogo integrates with leading technology partners like OpenAI, Google Gemini, and Anthropic, as well as financial services industry data sets from LSEG, S&P Global, FactSet, and PitchBook. The company is supported by investors including Thrive Capital, Khosla Ventures, J.
P. Morgan Growth Equity Partners, and Tiger Global.
