Alt-X: Automation for institutional-grade financial modeling in Excel

Automation for institutional-grade financial modeling in Excel

Alt-X is building the Cursor for financial modeling in Excel, an Excel agent that you can actually trust. Private-market investing still runs on Excel. Every year, trillions of dollars in real estate and private-equity deals are underwritten through manual spreadsheet work — copying numbers from PDFs, CIMs, and data rooms into fragile models that analysts rebuild from scratch. Alt-X is the AI underwriting layer for Excel. It turns raw deal materials into clean, auditable financial models inside Excel, automatically extracting key metrics and generating institutional-grade underwriting models that analysts can immediately review and edit. Building reliable AI workflows for financial models is difficult. Underwriting models contain thousands of interdependent formulas across multiple sheets, and small errors can materially change investment decisions. Alt-X focuses on making model generation and data extraction reliable enough for real deal workflows, not just demos. We built our product to underwrite billions. Ryan Samadi (Stanford CS/AI, former Citadel trader) and Michael Wachsmann (Cornell CS, infrastructure engineer) have spent years building systems around financial data and modeling workflows. We have hundreds of millions in AUM using us already, and our users already prefer us to legacy cash flow modeling tools in the real estate space. Private markets remain one of the largest manual workflows in finance. Alt-X’s goal is to become the default infrastructure layer for underwriting private-market investments inside Excel.

Active Founders

Ryan Samadi

Founder

Ryan Samadi is the Co-Founder and CEO of Alt-X, building AI infrastructure for financial services. Before Alt-X, he worked at Citadel’s commodities fund. Ryan also studied Computer Science at Stanford, focusing on AI, where he also led a hedge-fund investing program. He founded Alt-X after seeing how even the most sophisticated investors still rely on Excel and manual analysis—and is now building the platform that will replace it.

Ryan Samadi

Founder

Ryan Samadi is the Co-Founder and CEO of Alt-X, building AI infrastructure for financial services. Before Alt-X, he worked at Citadel’s commodities fund. Ryan also studied Computer Science at Stanford, focusing on AI, where he also led a hedge-fund investing program. He founded Alt-X after seeing how even the most sophisticated investors still rely on Excel and manual analysis—and is now building the platform that will replace it.

Michael Wachsman

Founder

I am Co-Founder and CTO at Alt-X, where I lead engineering and architecture to build AI infrastructure for private-market investing. I joined because I saw how much manual analysis and fragmented deal data slow down investment teams, and now I’m focused on rethinking how this industry works from the ground up.

Michael Wachsman

Founder

I am Co-Founder and CTO at Alt-X, where I lead engineering and architecture to build AI infrastructure for private-market investing. I joined because I saw how much manual analysis and fragmented deal data slow down investment teams, and now I’m focused on rethinking how this industry works from the ground up.

Company Launches

Alt-X: AI Agents for Real Estate Underwriting & Financial Modeling

See original launch post

Hey

We're Ryan and Michael, and we're building Alt-X.

TL;DR

Download our Excel plugin from alt-x.co or contact us at ryan@alt-x.co

Alt-X is the first AI Excel agent built specifically for real estate underwriting. Drop in an offering memorandum and get a fully built, fully auditable financial model in seconds, directly in Excel.

We've lived the pain of financial modeling firsthand through years of late night modeling sessions, and built Alt-X to change it.

Ask: Our product is live and we’re looking for real estate investors, underwriters, and acquisitions analysts to try it on real deals.

Download our Excel plugin from alt-x.co or contact us at ryan@alt-x.co

https://youtu.be/wp3NBnwFs38

Why we built it

Ryan spent years in the hedge fund world and institutional finance watching the same thing happen on every deal: a 200-page offering memorandum lands, IC is in 48 hours, and someone is manually pulling numbers cell by cell into Excel building capital stacks, sizing debt, modeling cash flows, building waterfalls from scratch.

The biggest firms built proprietary infrastructure to solve this. Everyone else is still doing it by hand.

What Alt-X does

https://youtu.be/OqDnOfKzudk

Alt-X lives in Excel. Drop in your OM and it automatically builds your full underwriting model: sources and uses, senior debt sized to LTV and DSCR constraints, ten-year operating cash flows, exit cap sensitivity, full GP/LP waterfall with promote tiers.

Every number is cited back to the exact page and line of the source document. Every change needs your approval before it's applied. Not blind AI. Not manual modeling. Build fast and verify everything.

Team

Ryan studied CS at Stanford, worked at Citadel and previously was founding engineer of a $XXMM+ commodities startup. Michael published novel ML research at Cornell and built state-of-the-art AI security systems. Together, they've lived the pain of financial modeling and have the technical depth to fix it.

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Ask

We'd love warm intros to real estate investment firms, acquisitions teams, and asset managers. If you work in real estate finance or know someone who does, please reach out.

Download the plugin and try it on your next deal at alt-x.co or email us at ryan@alt-x.co