Aibidia Secures $28 Million in Series B to Enhance AI-Driven Tax Technology
Aibidia, an AI-powered fintech firm, has successfully completed a $28 million Series B funding round aimed at expanding its innovative tax technology solutions within the United States. Aibidia has established a significant presence in the tax technology space, catering to multinational corporations by providing a platform for global transfer pricing and cross-border tax compliance.
The funding round was spearheaded by Activières, with participation from existing investors including DN Capital, FPV, and Icebreaker.VC. This financial support is expected to bolster Aibidia’s ability to navigate the complexities of international tax regulations.
Multinational corporations are currently facing unprecedented challenges in managing their global supply chains, exacerbated by evolving tax regulations such as BEPS 2.0 and the EU BEFIT framework. Coupled with geopolitical tensions and trade tariffs, large companies must adeptly navigate a “perfect storm” of compliance challenges.
Aibidia offers a robust AI-focused solution that automates and optimizes transfer pricing processes, effectively helping corporations mitigate risks, ensure regulatory compliance, and streamline operations. Since its inception in Finland in 2018, Aibidia has seen its platform adopted by over 100 multinational firms, including industry giants such as Unilever, Dyson, and Nokia.
“Multinational companies face increasingly complex tax regulations,” said Hannu-Tapani Leppänen, CEO of Aibidia. “Our technology empowers them to effectively leverage global supply chains, and this funding will enable us to bring our solutions to the rapidly growing American market.”
With a growing footprint in the U.S., Aibidia currently manages over 7,000 international commercial entities, with its American market share contributing more than 15% of total revenue. The company is well-positioned for further global expansion and innovation as it continues to meet market demands.
“Aibidia exemplifies a European tech company poised for global success,” stated Maximilian Mayer, a partner at Activières. The company showcases vital characteristics such as innovative AI applications and data-driven solutions to solve critical challenges for multinational corporations. We are excited to support their ambitious American expansion efforts.”
The continued partnership with DN Capital emphasizes the strategic vision behind Aibidia’s growth. Founding partner Steven Schlenker remarked on Aibidia’s exceptional team and platform, highlighting its unique position for ongoing success in the financial technology landscape.
As Aibidia continues to evolve and expand its global footprint, the company represents a pivotal player in the realm of AI-driven tax solutions, addressing the intricate needs of international companies navigating today’s challenging regulatory environment.