Rebuild the rails.

The agentic back office for the next generation of companies, starting in Switzerland.

Every support function runs on a complex set of pipes that almost nobody sees.

The invoices, the ledgers, the VAT, the payroll, the HR filings are all part of the web of obligations involved in keeping a company running. They generate no revenue, attract no customers, and improve no part of the customer experience. Yet every company still carries this administrative burden, consuming on average 15% of revenue.

Most small and mid-market companies outsource it, at least in part. But today's outsourcing providers cannot solve the pain of fragmented domains and systems: a myriad of tools, databases, and fractional experts, each holding a piece of the truth, while internal staff members become full-time orchestrators, chasing documents, keeping records, and trying to ensure no payment or reporting deadline is missed.

This is the unglamorous machinery that decides whether a business knows what it is doing or only finds out months too late. In Switzerland, where we begin, that machinery often involves an accounting firm doing skilled work manually, the same way it was done twenty years ago. It works, but it is slow, expensive, and remote from a company's day-to-day operations. That is why it has rarely told a business leader something they did not already know.

We think all of this is about to change for good:

For the first time, software can do the work. Not answer questions about the work but provide an end-to-end service. Read the transaction and book it. Reconcile the account. Prepare the return. Catch what is wrong and correct it before anyone asks. The machine does the doing, human experts do the judging.

Such a solution requires a fundamentally different technology and service provider. One that intelligently weaves together agentic and human capabilities on a platform built for agentic workflows, not human ones. Unfortunately, the existing providers lack the capabilities and the incentives to make the switch. Their operations and revenues are structurally tied to a person sitting in the middle of every task.

It will require a forward-looking and tech-enabled company to step in and build this solution based on a firm set of beliefs:

We believe in a future where company admin is seamless, silently running in the background while companies focus on their core business.

We believe the back office of a company should be alive. Watching, reconciling, warning, advising, early enough to change the outcome.

We believe a company should understand its own numbers better than anyone outside it ever could, and that this should cost a fraction of what it costs today.

We believe new agentic platforms will form around client segments instead of siloed functions, driven by collapsing development costs and commoditized intelligence.

We believe the company that gets the foundation right does not stop at accounting. It becomes the layer the whole business runs on.

That is what we are building. We call it Mithril.

In Tolkien's Middle-earth, mithril was the most precious metal there was: lighter than silk, harder than steel, mined deep by the dwarves and forged into a coat of mail that turned a blow that should have been fatal. You built with it because nothing else came close. We took the name on purpose. We intend to be exactly that for the companies we serve: the material they are built from and protected by.

We start with the mid-sized: the companies that carry the economy but get the least from it. Among them, two kinds come first. The new wave, founded in the past five years, growing faster than a monthly close can follow. And the established mid-market, profitable and understaffed, paying premium fees for a service that has not changed in twenty years.

We start with finance, because finance is the hardest part and the part everything else hangs off. Once a company's books run on Mithril, so can its payroll, its HR management, its compliance, its planning, its financing. In that order, and only when the books are flawless: each layer earns the next. The ledger is no longer merely a record of the past but the system that decides what happens next.

From that base we move upmarket. Enterprises do not buy tools; they buy outcomes fitted to how they already operate. So we bring the platform to them, using our talent and capabilities to wire Mithril into the way the enterprise actually runs. This is the play the global professional services firms have run for decades: the external specialist that builds new capabilities inside large companies. We run it with agents instead of armies of consultants. And because Swiss enterprises operate globally, every capability we build inside one carries Mithril across borders with it.

The prize is larger than it looks. Add up what a company actually spends on its numbers and the software becomes a rounding error: the real cost is the people around it. The accountant's hours, the auditor's review, the payroll bureau, the advisor on retainer. In every company, in every country, the services bill dwarfs the software bill. Swiss companies alone spend CHF 25 to 35 billion every year running their finance functions, five times what French and German companies together spend on finance and accounting software. That is the budget we compete for.

The firms that collect that bill today are the giants of professional services, and every one of them began as a single man with a ledger. The first made his name auditing railway companies: the rails of his age. A hundred and fifty years later, those names sit on towers in every financial capital, and the firms beneath them grow the only way they still know how, by merging with one another. They will not build what we are building. They cannot. Their business is the human hour, and the hour is exactly what the machine removes. Too big to change, too invested to try. For a century that was the safest seat in commerce. It is now the most exposed. We are the hunters on their track.

Swiss unit economics are the best in Europe. Service fees are the highest on the continent, and salaries are the cost behind them. Where labor is the cost, automation is the margin. Nowhere does replacing hours with software return more per client than here. The capability overhang is just as large. Three languages and twenty-six cantonal tax regimes kept the global platforms out for decades. The incumbent tools are a generation old. The incumbent firms number in the thousands, most with fewer than ten people, many with no successor. Fees are high, the technology baseline weak, the service quality weaker, and the talent shortage grows every year. No market in Europe has a wider gap between what is charged and what is delivered.

And no market makes it easier to close that gap. Germany walls tax work behind a professional monopoly and forces software and service into separate legal entities. France reserves the books for the expert-comptable. Switzerland lets one firm hold the license, build the technology, and deliver the service under one roof. The talent to build it is already here. Switzerland is the most innovative country on earth, first in the world for fifteen years running, home to ETH, EPFL, and the only city outside London where Google, OpenAI, and Anthropic all run research teams. Switzerland turned trust, quality, and precision into global leadership in banking, insurance, and pharma. We build on the same foundations for the companies that run this economy.

The window to do this is open, and it is not wide. Build it now, or watch someone build it later, and sell it back to us.

We would rather build it here.