April, an Israeli fintech company that created a platform to help people file tax returns in the U.S., has raised $38 million in a Series B funding round.
This brings the total money the company has raised to $78 million. The funding was led by QED Investors, a global investment firm that supports fintech companies like Klarna, Remitly, and SoFi. Nyca Partners and Team8 also joined in the funding.
April was started in 2021 by Daniel Marcous and Ben Borodach. Marcous is the CTO and CPO and used to work in top roles at Waze and Google Israel.
Ben Borodach is the CEO. He previously led strategy at Team8 and managed its U.S. operations. April has about 60 employees working in Israel and the United States.
April has created a system that automatically works with every financial transaction. Users don’t need to sign up separately for a special tax system. Their platform, based on U.S. tax rules, makes filing tax returns easier and helps with smart financial planning throughout the year.
The company’s technology makes filing federal and state tax returns simple by combining them into one easy process. It reduces the average time needed from about 13 hours to less than one hour. Millions of Americans now use the platform, and it works with over 50 partner organizations. So far, it has helped process hundreds of thousands of tax filings.
Earlier this year, April got permission to work in all 50 U.S. states. This lets the company send tax returns electronically to both federal and state tax offices using one authorized system.
“Leveraging an AI-assisted development process, we built a compliant, national e-file platform from the ground up and made it available inside the apps people already use to manage their money,” said Ben Borodach, co-founder and CEO of April. “Now we’re extending that foundation to address a much broader range of tax needs beyond filing.”
Read more- Actis Buys Singapore Energy-Saving HVAC Company BBP
