Overview
Khamraeva worked as a company auditor for close to fifteen years, including more than a decade at Big Four audit firms. She has said she left the profession because she felt the value she could offer was being held back. The company joined the latest cohort of Start it, Belgium's largest startup accelerator, took third place at Nexus Luxembourg, and secured a EUR 750,000 pre-seed investment from Smartfin announced in May 2025. Jonas Plancke, who led Audit Transformation at PwC for a decade, joined the leadership team in May 2026, and in July 2026 the company closed a EUR 2 million seed round led by Smartfin with participation from business angels.
Natalia Khamraeva is the founder of Auditstage, a Belgian technology company she started in 2024 to build an AI-powered collaboration platform for financial audits. The platform helps audit firms and their clients complete audits faster and with greater transparency, covering the audit lifecycle from data ingestion through sign-off with automated working paper generation and AI-assisted drafting that cites its sources. Khamraeva is a certified auditor. She spent over a decade at Big Four audit firms and worked as a company auditor for close to fifteen years before leaving to launch Auditstage. She was born in Moscow and moved to Belgium at age eleven in 1999. Auditstage raised EUR 750,000 in pre-seed funding from Smartfin, the venture capital firm co-founded by Jürgen Ingels, announced in May 2025. In July 2026 the company raised a EUR 2 million seed round led by Smartfin with participation from business angels, to fund product engineering, infrastructure for enterprise operations, and a commercial rollout to early-adopter firms. The company works with a select group of audit firms as pilot participants and operates a hub in Belgium alongside an international engineering unit. Its leadership team consists of Khamraeva, Jonas Plancke, and Valérie Brouwers.
Career history
Insights & ideas
The through-line
Across the weekly updates, Natalia Khamraeva keeps returning to one idea: building Auditstage is a slow, obsessive process of earning trust, both from auditors who protect their reputations every day and from investors and partners who take a bet on an unproven vision. Early on that pressure was personal and existential, she describes feeling, right after the first funding announcement, "pressure to prove that the crazy vision in my head could actually become reality" [5]. Over the following weeks the focus shifts from proving the vision to scaling it: hardening the product for enterprise-grade audit firms [1][6], growing the team [7], and finally taking the product to market with dedicated support structures [4][8]. What does not change is the insistence on rigor: whether it's testing the platform herself with five laptops or requiring audit expertise from anyone who touches the product, she treats auditing software as something that cannot be built casually [2][6].
On quality assurance
Khamraeva describes personally stress-testing the platform "trying to break the happy flow and find things an auditor isn't supposed to do, but potentially could if we missed something" [2], with the explicit goal to "find it before our clients do" [2]. This extends to how she frames the team's broader effort: "we've been obsessed with getting our product right from day one" [8], and building for auditors is "not something you do with a bit of overnight coding experience" [6], but instead requires assembling combined expertise she quantifies as "272.000 hours of combined experience in software development and financial auditing" [6].
On adoption and trust in a regulated profession
A recurring theme is that shipping code is not enough for a highly regulated profession like auditing. She states the company's promise "since day one" that "we do not only ship code, but also help with the adoption of our software in the field by doing something that none of our competitors do" [4], operationalized through a dedicated "Audit Champion" who joins each firm's team with "at least four years of audit experience" [4]. On the question of AI trust specifically, after a podcast dilemma about which auditor to fear more, she concludes "the bigger risk is the auditor who blindly trusts AI" [9], and describes the challenge of a public webinar as "finding the right balance" to make AI "practical for a room full of auditors with completely different levels of experience" [10].
On building the company together
Khamraeva frames growth as something done with others, not alone. She writes that "building a company together" means working with "people who get in the trenches" who "arrange meetings, challenge the thinking, open doors, share the vision, and help move the mountain one stone at a time" [8]. This is echoed in her framing of milestones as validation earned rather than given: "Every euro has to be earned" [3], and in her description of raising the seed round as turning early engines "into a complex sequence of AI agents" and shipping "the most complete auditing software that has ever existed" [5]. Team growth is treated as a milestone in its own right, marked by hires like Kaustav Das and the move to a shared office space after "months of working remotely" [7].
From the stage
In the podcast interview, Khamraeva describes a biographical and motivational arc not covered in the written posts: she worked as an auditor for nearly 15 years in corporate settings, where she "accumulated frustrations about inefficient and tedious tasks," and says AI "opened possibilities for her to address these frustrations," which led her to found Auditstage [13]. She also describes her current day-to-day as centered on "product development, software writing, and experimentation," while acknowledging that her role "will shift toward sales as the company scales" [13].
Takeaways
- Auditstage's QA process is personally driven: Khamraeva runs manual adversarial testing across the platform herself before customers can find gaps [2].
- The company differentiates on adoption support, assigning every audit firm a dedicated "Audit Champion" with real audit experience rather than just shipping software [4].
- Her stated view on AI risk in auditing is that overtrust, not underuse, is the bigger danger for the profession [9].
- Fundraising and partnership wins (Smartfin seed round, Microsoft sponsorship) are framed by her as hard-earned validation of a vision that started as personal pressure to prove itself [3][5].
- Her founder identity traces directly back to nearly 15 years of auditor frustrations that AI made addressable, a detail she discusses on the podcast but not in her written posts [13].
Media & appearances
- All Colors of CommunicationYouTubeAll Colors vraagt door - Natalia Khamraeva - Founder & CEO bij AuditstageNatalia Khamraeva discusses her transition from working as an auditor for nearly 15 years in corporate, where she accumulated frustrations about inefficient and tedious tasks, to founding Auditstage as a startup CEO building software to make auditing more efficient and enjoyable. She explains that AI opened possibilities for her to address these frustrations, and her current days involve product development, software writing, and experimentation, though her role will shift toward sales as the company scales.
- auditstageYouTubeAll Colors Vraagt Door - Podcast met Natalia Khamraeva (Dutch Only)
In the news
- Week 74 after press release Our very first client is LIVE! 🚀❤️ And suddenly, something we’ve been working towards for so long becomes real! Yesterday, Auditstage went live at its very first client! And there is a little story behind this moment that makes it even more special. On May 27 2025, exactly 38 minutes after the press release announcing our first capital round, an email landed in my inbox. It was from an audit firm that wanted to try our software once it was ready. And almost a year and a half later, here we are! Live
- Week 74 after press release Our very first client is LIVE! 🚀❤️ And suddenly, something we’ve been working towards for so long becomes real! Yesterday, Auditstage went live at its very first client! And there is a little story behind this moment that makes it even more special. On May 27 2025, exactly 38 minutes after the press release announcing our first capital round, an email landed in my inbox. It was from an audit firm that wanted to try our software once it was ready. And almost a year and a half later, here we are! Live
- Week 73 after press release The people behind Auditstage ❤️ Last night we had a little dinner to celebrate our latest funding round 🙌 But what I was really celebrating was not so much the closing itself, but how incredibly lucky I am to have these 👇 wonderful people by my side on this startup adventure They are maybe not always visible to the outside world, but behind the scenes they are my inner circle and most trusted advisors. They are the ones who believe in me (even when others don’t), who give me new chances every day to
- Week 72 after press release Auditstage at ICAEW London 🇬🇧 Wohooo, we made it to London! And we managed to get ourselves into one of the largest conferences for auditors and accountants in just 3 days 😅 In fact we’ve been so focused on getting ready for go-live that we kind of forgot about the rest of the world. Until Monday, when we realised that Institute of Chartered Accountants in England and Wales (ICAEW) was organising their Annual Conference this Friday So we bought a sponsorship package, arranged everything in 3 days and
- AI in audit will be judged on one question: can the auditor explain how a result came about? A tool that produces a convincing answer without showing its sources asks the auditor to trust a black box. That is hard to reconcile with the documentation the ISAs require, and harder still to defend during an inspection. The solution lies in how the software is designed. In practice that means AI output that shows its sources, a record of who accepted each suggestion and when, and no change to the audit file without the auditor's
- Week 71 after press release Old friendships and lunches ❤️ Almost 20 years ago, in 2007 (oh gosh, I suddenly feel very old typing this 😅), I was studying economics at the VUB… It was a completely different world. Programming classes were on a PC in Delphi (and f*cking hard because you had to actually understand the code), AI was definitely not doing your homework, and none of us had any idea where our careers would take us Some built careers in completely different industries. Some couples from those days are now husbands and wives
- Week 70 after press release ISO 27k audit passed 🏁 Last week was another incredibly busy week An important milestone was our first ISO 27001 surveillance audit since we got our certification last year. And we passed it fully clean! 🙌 This means we now have more than 240 monitoring controls permanently running and we were able to show that we maintain those controls not only once during an audit, but continuously throughout the year. Next week we’re up for penetration testing with Aikido Security I didn’t realize how serious a
- A good first meeting opens doors. A good follow-up walks through them. Three months after Nexus Luxembourg, five Belgian #startups came back to #Brussels for a working breakfast, focused on activating contacts, deepening relationships and turning early conversations into concrete opportunities. The teams from the Embassy of Luxembourg in Brussels, the Ministère de l'Économie - Luxembourg, Startup Luxembourg and Luxinnovation GIE facilitated key introductions. - Auditstage, represented by Natalia Khamraeva, uses #AI to make audit
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