april has raised announcing our $38M Series B, led by QED Investors, with participation from existing investors Euclidean Capital, iAngels, NYCA, Team8, Transpose, Treasury, and welcome new investors, Industry Ventures.
Nearly 4 years ago, we set out with an ambitious goal to embed tax in every financial decision by building the most connected tax software.
Approximately 150 million households and 30 million small businesses need to estimate and pay their taxes annually in the US. 45% of the $5 trillion in annual US Government revenues is paid for by American Households.
There is a generational opportunity to optimize this $2tn+ in spend and help Americans do more with their money.
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As we just saw with the One Big Beautiful Bill, US taxation is complicated, constantly evolving, and intertwined with our financial markets and broader economy. From impacting compensation structures (like tips and overtime) to auto loans and tax advantaged accounts, tax touches virtually every aspect of our lives.
When we started april, we said that tax was the forgotten child of fintech. Approximately 2 in 3 tax returns are processed by just four companies (Intuit, H&R Block, Thompson Reuters and Wolters Kluwer). In fact, there are only around ten companies with a national charter to calculate and process tax returns and most were built in the 1980s and 1990s.
Until april, taxes could be filed with a CPA or with an online DIY software. Taxes lived alone on an island disconnected from your finances.
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As a leader who has spent his career in financial services, this makes absolutely no sense.
American families and small businesses need a better way.
Over the last four years, we have been quietly building the first nationally licensed tax software in over a decade. It is purpose built to be embedded where Americans are already managing their money.
