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Commercialisation Round · 2026

AIRTIGHT

Triple-Entry Accounting.
Those who know, know.

Built airtight from day one. No leaks. No gaps. No second guesses.

A$0
Y3 ARR vision
0:1
Accountant LTV:CAC
0
Patents filed
A$0
Founder-deployed Y0
A$4M raise
A$18M pre
Late seed / pre-A
airtight.one
Intelligence in motion

While you opened this deck,
Airtight reconciled a BAS.

A bank feed posted. The local AI categorised. The triple-entry ledger wrote. The Merkle chain hashed. The GST liability updated. Bella generated a one-paragraph explanation. End-to-end, sub-second.

This is what production-ready engineering looks like, paired with pre-revenue honesty about the channel work still ahead.

LEDGER ENTRY · 2026-05-17 14:23:07.142Z
DR Bank · ANZ Operating A$2,847.50
CR Revenue · Consulting A$2,588.64
CR GST Liability · ATO A$258.86
SHA-256 0x7f3a9c2e…d8e2b1
PREV    0x4a92cb7f…7f1e8c
MERKLE  depth 19, root verified
Chain integrity verified · tamper-evident
Sub-second
Cryptographic
Verifiable
The problem

600 years of double-entry. 40 years of double-entry SaaS.
Zero cryptographic integrity.

Undetectable tampering

Xero, MYOB, QuickBooks, Sage: any sufficiently-privileged user can rewrite a closed period, and the next reader cannot tell. Audit risk + fraud risk + regulator risk, all priced in.

ASIC review · ATO BAS reopens · fund-trust audits

BAS errors compound silently

Categorisation mistakes early in the quarter cascade through reconciliation, GST liability, payroll, and BAS lodgement. The 2024 ATO data: ~A$2.4B in SME GST adjustments per year. Avoidable.

BAS reopens · ATO penalties · refile cost

R&DTI underclaim epidemic

AusIndustry estimates only ~30% of eligible AU SMEs claim R&DTI — the rest leave 43.5% refundable credit on the table because the evidence trail is too painful to assemble retrospectively. Built-in claim capture changes the math.

~70% underclaim rate · Div 355 ITAA 1997

Every incumbent treats these as features to add. None can rewrite the ledger architecture beneath their installed base.

The solution

We didn't add a feature.
We rebuilt the ledger.

Layer 3 · Synthesis

Bella — your always-on accountant — narrative + agentic actions

Bella explains the books in plain English, drafts the BAS narrative, files R&DTI evidence packs, and takes guarded write actions through 63 typed tools.

airtight.one/bella
Bella product page at airtight.one/bella
Bella, your always-on accountant
— at airtight.one/bella
23 R&DTI tools
Layer 2 · Local AI reconciliation

Cascading tiers, per-customer fine-tuned

Exact match → rule engine → vector similarity → LLM fallback. Per-tenant DEK envelope encryption isolates each customer's training corpus. No data leaves the boundary by default.

4-tier cascade
Layer 1 · Cryptographic core

TigerBeetle + PostgreSQL + SHA-256 Merkle

Integer-only debit/credit primitives. Hash-chained transactions. Tamper-evident by construction. The closed period stays closed — mathematically.

Patent #1

Each layer is independently testable, replaceable, and crypto-bounded. None of the incumbents can ship Layer 1 without rewriting 40 years of installed base.

The product

One ledger. Every jurisdiction.
Built natively.

airtight.one LIVE
airtight.one features — multi-entity, R&DTI, ledger, Bella
Product features live at airtight.one · triple-entry ledger, R&DTI module, AU + GCC compliance, all production-ready

AU suite

Live
  • BAS · GST · STP 2
  • Payday Super · SuperStream
  • SMSF · clearing house
  • Trust · property · family
  • R&DTI · Xero Tax export
  • Bank feeds · ATO DSP

GCC suite

Code-complete
  • KSA · ZATCA Ph2 · UBL 2.1
  • Bahrain · NBR e-invoicing
  • UAE · Peppol AS4 · FTA
  • Oman · Fawtara compliant
  • SGH WLL Bahrain entity

Sharia mode

Native
  • AAOIFI chart of accounts
  • Hijri date primary · bidi
  • Murabaha / Ijara / Sukuk
  • Tarabut open banking
  • Zakat + purification flow
app.airtight.one live
 
api.airtight.one live
 
285 tables · 107 migrations
Mathematically airtight. By design.

Xero can ship a triple-entry feature.
They cannot ship a triple-entry architecture.

Triple-entry ledger rewrite
9.5 / 10
ZATCA Phase 2 native build
8.8 / 10
Per-customer fine-tuned AI
8.2 / 10
Multi-jurisdiction (AU + 4 GCC)
9.0 / 10
Sharia at the ledger layer
8.5 / 10

Rewrite complexity score · weighted by codebase depth + regulatory friction

"Architecture is not a feature you can patch in. It is a decision you make on day one, or you don't."

The incumbents have ~40 years of installed base. A re-platform is impossible without breaking every connected feed, every BAS already lodged, every audit trail in the field.

Airtight is greenfield.
Market

A$1.8B AU. A$680M GCC.
Compliance-mandated tailwind in both.

TAM SAM SOM A$24.8M
TAM · total addressable
A$2.48B
AU SME accounting (A$1.8B) + GCC e-invoicing (A$680M)
SAM · serviceable
A$520M
AU SMB on a cloud platform + accountant channel reach
SOM · Y3 capture
A$24.8M
Base scenario Y3 ARR · cryptographic + compliance wedge
Bull case: A$58.1M Y3 · Conservative: A$11.1M Y3 · modelled across all 3 scenarios
A$80M total compliance-wedge ceiling at full TAM capture (vision)
Business model

Four tiers. Five modules.
One accountant channel.

Foundation
$49
/ month
  • · 1 entity
  • · BAS prep + lodgement
  • · AI categorisation
  • · Bank feeds + invoicing
Most popular
Business
$99
/ month
  • · 3 entities
  • · 5-employee STP payroll
  • · Multi-currency lite
  • · Practice mode (3 firms)
Professional
$199
/ month
  • · 10 entities
  • · Multi-currency full
  • · R&DTI module *
  • · Bella AI agentic
Enterprise
$499
/ month
  • · Unlimited entities
  • · Sharia compliance
  • · API access + SSO
  • · SOC 2 + dedicated DEK
Accountant channel math
1 accountant × 50 entities × $99/mo = A$5,940/mo
Add-on modules
$39 / SMSF
$49 / Trust
$5 / employee
$299–$12,500 Fund Acct
17% annual disc
airtight.one/pricing LIVE
airtight.one/pricing — live pricing page
Live pricing at airtight.one/pricing — same tiers as deck

* R&DTI module facilitates customer claims under Division 355 of the ITAA 1997. Customer eligibility, R&D classification, and refund quantum subject to AusIndustry registration and ATO review.

The competitive landscape

40 years of technical debt.

Capability AIRTIGHT Xero MYOB QuickBooks Sage
Triple-entry cryptographic ledger
SHA-256 Merkle hash chain
ZATCA Phase 2 native (UBL 2.1 + ECDSA)
4 GCC e-invoicing engines (KSA / BH / UAE / OM)
AAOIFI Sharia at the ledger layer
SMSF native (not bolted on)
Per-customer fine-tuned AI
Per-tenant DEK envelope encryption
Passkey / WebAuthn (passwordless)
R&DTI claim capture in-flow
Integer-only money (no float drift)
Direct ATO DSP lodgement

11 of 12 capabilities · categorically absent from the incumbent stack.

Why now

Three tailwinds.
One platform that meets all three.

ATO digitalisation wave

Payday Super lands 1 Jul 2026. STP Phase 2 already mandatory. eInvoicing federal mandate rolling. Three concurrent regulatory pushes that reward greenfield architecture.

Payday Super 1-Jul-26
STP Phase 2 live
eInvoicing mandate

ZATCA Phase 2 capture window

KSA wave 23 deadline closes Q1 2026. ~1.68M SMEs need compliance. Western SaaS does not have it; regional incumbents (Wafeq, Qoyod) are at capacity. Airtight is ready.

1.68M SMEs
UBL 2.1 + ECDSA
SGH WLL Bahrain live

SMSF $1.07T underserved

AU SMSF sector at A$1.07T AUM, 645K funds, ~$160K avg admin cost frustration. Class Super + BGL hold the high end; no AI-native challenger has cracked the AU SMSF SMB tier.

A$1.07T AUM
645K funds
No AI-native challenger

AI accounting M&A wave

Intuit, Sage, Xero are buying AI-native accounting capabilities at accelerating velocity. The acquirer set is well-defined. The window for AI-native + multi-jurisdiction + cryptographic-ledger differentiation is now.

Intuit acquiring
Sage acquiring
Xero acquiring
Traction

14 months.
0 → 1, shipped.

369K
Lines of code
107
DB migrations
285
Tables
4,348
Tests passing
19
PRs May 2026
4
Patents filed
Live infrastructure
● airtight.one · marketing live on CF Pages
● app.airtight.one · product live on SINGULARITY EC2 (AWS Sydney)
● api.airtight.one · API live (4,348 tests pass)
airtight.one LIVE
airtight.one + app.airtight.one + api.airtight.one — all live in production
airtight.one + app.airtight.one + api.airtight.one · all live in production
May 2026 ship-wave
#232   Cross-tenant authorisation guard P0
#231   Inventory-GL envelope + field shape
#230   Practice Manager /v1/ prefix + empty-state
#229   Payment Rails Phase 3.5 integration tests
#228   Pinch adapter Phase 6 (post-Fiserv)
#225   UAT bugs + i18n lockstep en-AU / ar
#219   Xero Tax export + 4 Bella tools
#218   STP → ATO SBR + SuperStream
#217   Inventory-GL wiring + COGS history
#216   Practice Manager (multi-firm)
#215   Bulk Xero migration orchestrator
+ 8 more (Bella chat UI, marketing polish, dependabot)

Pre-revenue by design. Engineering depth first; channel activation funded by this round. Nice Tech Group lined up as the anchor pilot.

Go to market

Distribution: one buyer, many entities.
Three channels.

Every channel is a 1→N multiplier. Combined: 170 institutional buyers seeds ~7,500 entity subscriptions.

Channel 1 · Accountants

Practice firm onboards their client book

1 accountant · 30–100 entities at Business tier
50 entities × A$99/mo = A$5,940/mo
32:1
LTV:CAC
~3–5 mo
Payback
Why they buy: bulk Xero/MYOB migration, single pane for whole client book, 25% rev-share, R&DTI module reduces P3-class write-up work.
Target partners
CPA Australia
CAANZ
Nice Tech Group (anchor)
CAC ~A$660 · reach 50,000+ AU practices
Channel 2 · VCs / PE / Investment firms

Fund onboards its portfolio — flow-through financials by default

1 fund · 20–100 portfolio companies
Fund Enterprise + portcos Professional = A$15K–$50K ACV†
~18:1†
LTV:CAC (est.)
~A$2.5K
CAC est.
Why funds buy: LP quarterly reporting (4× 50 cos = 200 reports/yr) flows through multi-entity consolidation. ASC 805 / IFRS 3 acquisition accounting built-in. Cap-table waterfall + investor reporting at fund level. Triple-entry hash chain = audit-grade evidence for LP audits.
Target partners
AirTree
Square Peg
Blackbird
Skip / Folklore / Tidal
GCC: BECO · Shorooq · Wamda
~200 active AU VC/PE funds · ~1,000 across APAC
Channel 3 · Family offices

Multi-entity, multi-asset-class — single ledger

1 office · 10–50 entities (op-cos · trusts · SMSFs · property · portfolios)
Enterprise tier = A$5K–$25K ACV†
~15:1†
LTV:CAC (est.)
4 modules
One ledger
Why offices buy: they run trusts (Trust module), SMSFs (SMSF module), op-cos (standard accounting), property (Div 40/43, CGT, neg gearing) and portfolios (multi-currency). Only platform with all four in one ledger. AAOIFI-Sharia mode for GCC offices.
Target partners
Mutual Trust
Stanford Brown
Crestone
Koda Capital
GCC: Kanoo · Almoayyed
~2,000 AU multi-family offices · ~1,500 GCC
170 institutional buyers
~7,500 entity subscriptions
100 accountant practices × 50 entities  +  20 VC funds × 50 portcos  +  50 family offices × 30 entities  =  ~7,500 entity subscriptions from 170 institutional buyers. Distribution scales without a sales team — each institutional buyer onboards their entire ledger network.

† Y1–Y2 channel projections; pricing tier mix confirmed by drivers.json — channel mix is forward-looking. Blended LTV:CAC 23.9:1 · 35% trial-to-paid · 82% target GM.

Team & IP

Solo + AI-augmented. 14 months.
Four patents.

Founder + Y1 plan
KS
Kane Sajdak
Founder · CTO · sole engineer
Y1 +6 FTE · 3 eng / 1 GTM / 1 ops / 1 design
Y2 +12 FTE · closes to 18 by M24
AU board · AU finance + AU SaaS + AU GTM seats open
BH advisor · AAOIFI + Tamkeen pathway open
Entity structure
INEVARA Pty Ltd · AU operating
SGH WLL · Bahrain GCC entity
Crown-jewel IP · 4 filed AU provisionals
PATENT 1

Triple-entry hash-chained ledger

SHA-256 Merkle, cryptographic integrity primitive, integer-only ledger.

PATENT 2

Cascading AI reconciliation

Per-customer fine-tuning, 4-tier cascade, training-data isolation by DEK.

PATENT 3

GCC multi-jurisdiction engine

ZATCA / NBR / Peppol / Fawtara unified through a single signing+lodgement abstraction.

PATENT 4

Per-tenant DEK envelope encryption

Customer-isolated keys, AWS CloudHSM root, crypto-shred deletion guarantees.

Our solicitor asked us twice. We were sure.

Use of funds

A$765K already deployed.
A$4M to compound it.

Y0 founder contribution
Per IFRS IAS 38 · capitalised software dev
14 months
3,800 hr eng @ A$100A$380K
600 hr IP / architecture @ A$150A$90K
250 hr design @ A$100A$25K
200 hr strategy / GTM @ A$100A$20K
Sweat subtotalA$515K
AWS + Bella runtime + CF + domainsA$140K
Legal + ASIC + BH + 4 IP filingsA$50K
Tooling + contractorsA$60K
Cash subtotalA$250K
Total Y0 deployed A$0
Y1 use of A$4M
18-month runway to revenue-priced Series A
A$4M
Salaries · 6 FTE Y1 rampA$1.5M · 37.5%
Sales & MarketingA$700K · 17.5%
Security investmentA$500K · 12.5%
Bahrain ops activationA$400K · 10.0%
Buffer / runway reserveA$400K · 10.0%
AWS / infrastructureA$300K · 7.5%
Legal / IP / complianceA$200K · 5.0%
Outcome: 18-month runway, A$50M pre Series A target M22, founder retains 59.4% through to Series A.
Founder equity waterfall
100.00%
Pre-Seed
81.82%
Post-Seed (this round)
73.64%
Post-ESOP (10% pool)
59.38%
Post-Series A (M22, illustrative)
The ask

Match the capital that's already inside.

Raising
A$0
Pre-money
A$0
Dilution
0%
ESOP
10%
5-method weighted avg pre-money: A$22.02M · ask sits -18.25% below average
Range: A$9.5M — A$40.6M across Berkus / Scorecard / VC / Replacement / Comps
Strategic exit

A$150–300M to Xero / MYOB / Intuit / Sage at AI-native + cryptographic-ledger differentiation premium.

ASX IPO

Xero-style multiple on Base-scenario A$24.8M Y3 ARR · Bull case A$58.1M Y3 ARR for upside framing.

Use of A$4M (summary)

37.5% salaries / 17.5% S&M / 12.5% security / 10% Bahrain / 10% buffer / 7.5% AWS / 5% legal.

kane@sajdak.one
+61 431 733 720
airtight.one
DD pack on request