“Can an AI-native, open-banking-powered ledger replace Xero for the long tail of simple-compliance clients that accounting firms serve?”
Prosaic was founded in 2023 by ex-Xero, Vend and Slack operators in Auckland to rebuild the 'BankLink-style' cash-coding workflow for the AI era. Rather than compete head-on with Xero/MYOB, it targets accounting firms doing high-volume simple compliance (rentals, sole traders, trusts) with a firm-first workspace, standardised charts, and Akahu-powered open banking. The 2026 developer platform (API + MCP server) reframes the company as ledger infrastructure — 'make accounting an add-on to your product' — rather than an add-on to Xero.
Prosaic Works connects to bank accounts through Akahu.
Prosaic Works is founded in 2023 and headquartered in Auckland, New Zealand.
Get a read on where your own stack stands against Prosaic Works and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.