Personal income tax platform April raises USD 30 mln in Series A

Monday 4 July 2022 14:00 CET | News

April, a US-based personal income tax platform that embeds into digital financial apps, has raised USD 30 million in a Series A round.

The fintech startup was backed by Treasury, a fintech infrastructure focused fund established by the founders of Betterment and Acorns. In addition to Treasury, the round included participation from tech investors and financial providers such as QED, Nyca Partners, Team8, Euclidean Capital, and Atento Capital.

The company has raised USD 40 million since its launch in January 2022.

April will use the new funding to expand its R&D capabilities and increase operational capacity in preparation for next tax season.

The product

April serves thousands of American taxpayers through partnerships with several financial institutions. Propel, a mission-driven fintech company, used April's tax platform to help its members file quickly and access their tax refunds. It took April users an average of 15 minutes to file their tax information, with 90% filing on mobile devices.

April raises USD 30 mln

April's tax engine enables fintechs to perform tax calculations throughout the year, as data emerges. By embedding directly into a user's banking app or website, April can proactively fill most information needed for tax filing, saving users time and money without adding on extra costs throughout the process.

April's goal is to empower the taxpayer. By embedding tax into the banking and financial apps that people are already using, the tension of tax filing can be reduced, helping taxpayers avoid overpayments and attain a better grasp on their overall financial picture, with the full power of the tax code at their disposal.

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Keywords: embedded finance, funding, fintech, startup, financial inclusion
Categories: Banking & Fintech
Companies: April
Countries: United States
This article is part of category

Banking & Fintech


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