AI-powered tax platform April launches after $10 million seed round

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Tax platform April launched operations on Tuesday after raising $10 million from investors to support its custom tax engine that uses natural language processing and human-assisted AI, as well as partnerships with financial institutions, to streamline the tax preparation process and align it more closely with financial well-being.

April was co-founded by former Deloitte fintech strategist Ben Borodach, who led venture capital group Team8’s corporate strategy, and Daniel Marcous, former acting CTO of navigation startup Waze (which sold to Google for $1 billion in 2013), which later served as lead manager. data scientist at Google in Israel.

The funding round was led by Team8 and included participation from NYCA Partners, Bolt from QED, Treasury, Euclidean Capital, iAngels and technology founders Jeff Cruttenden from Acorns, Eli Broverman from Betterment, Shari Wininger from Lemonade and Lowell Putnam from Quovo.

Jody Padar, most recently vice president of partner development and strategy at Botkeeper and known as the “Radical CPA,” will serve as the startup’s head of tax strategy and evangelism.

From left, April co-founder Daniel Marcous, head of tax strategy Jody Padar and co-founder Ben Borodach

April partners directly with banks and financial institutions to break down barriers between tax and financial planning and make tax preparation more affordable, with the platform rolling out in the first half of 2022 to select fintech partner clients in time for this season. deposit.

“The process of preparing and filing tax returns doesn’t work for most Americans,” co-founder Borodach said in a statement. “Taxation is a crucial asset or liability on the personal balance sheet of the American family that lacks visibility throughout the year. The reality for most Americans is that they will have to spend a lot of time and money just to understand their tax liability.The time has come for a real-time, continuous and integrated tax experience that helps the taxpayer make more informed financial decisions, while saving them time and money.

April has partnered with fintech company Propel to reach families with limited income. “Filing taxes is stressful and complicated, especially for families with limited incomes,” Propel founder and CEO Jimmy Chen said in a statement. “We are delighted to partner with April to provide these families with a simple solution to access benefits such as the Child Tax Credit and the Earned Income Tax Credit, which are a lifeline for children. financially vulnerable households.”

April uses modern APIs to give developers more control and transparency in developing new solutions for the platform.

“It’s time to bring taxes into the digital age. I’m excited to lead the charge and help the next generation of consumers and accounting professionals have a better relationship with tax returns,” said Padar, head of tax strategy and evangelism. “Having April use AI and natural language processing to disrupt and transform the tax experience is a much-needed game-changer.”

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