New funding accelerates april’s mission to transform tax from an annual event into an always-on layer of financial intelligence

NEW YORK–(BUSINESS WIRE)–april, the embedded, AI tax platform, has closed $38 million in a Series B funding round led by QED Investors, with participation from Nyca Partners and Team8, bringing the company’s total funding to $78 million.

The raise follows a number of key milestones for the company. In early 2025, april became the first new company in over 15 years to achieve national e-file coverage, a major milestone that only approximately ten other companies have achieved. During the 2024 tax season, april was available to millions of Americans through more than 50 partners, processing hundreds of thousands of tax returns. Year to date, the business has tripled in size, reflecting the demand for embedded tax within financial institutions.

This season also marked an expansion of april’s filing capabilities. In addition to its self-service offering, april launched pro-assisted and pro-led tax filing services, enabling partners to support a broader set of tax needs directly within their own platforms. april’s AI powered tax infrastructure integrates federal and state filing into a single flow and leverages partner data to pre-fill forms, reducing median time to file to 22 minutes, compared to the IRS average of 13 hours. The platform also boasts an exceptional Net Promoter Score (NPS) of over 60, reflecting strong user satisfaction and trust. Partners saw refund deposit rates over 98%, underscoring the business impact of integrating tax functionality directly into financial platforms.

“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 Americans 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.”

With core infrastructure in place, april is now focused on delivering the most connected tax software to enable millions of Americans to forecast, optimize, and file their taxes within the applications of the country’s largest financial platforms. The company has already launched tools for paycheck withholding optimization and quarterly payments, and is actively developing solutions for more complex scenarios including capital gains, retirement planning, and small business ownership.

These categories represent the next frontier in embedded tax: addressing high-impact, high-ambiguity scenarios that most financial platforms lack the logic to guide tax-optimized decision-making. april’s infrastructure is designed to adapt to these complexities and deliver meaningful value to both platforms and the people they serve.

“For too long, tax has been disconnected from clients’ primary financial relationships,” said Raj Doshi, april’s President and COO. “april’s technology enables our partners to incorporate tax planning and filing as part of their broader offering to deliver truly holistic solutions. It puts them front and center in one of the most important, complex dynamics of Americans’ financial lives, and allows them to proactively surface opportunities and insights to help clients make the best possible decisions for their futures.”

Partners embedding tax planning tools are already seeing measurable impact. Carry, a rapidly growing wealth management technology platform, has integrated april to bring digital and human-powered tax planning services to clients navigating complex scenarios. Gusto uses april to help workers with variable income recalibrate withholdings, boosting take-home pay by over $1,200 a year. As tax planning becomes embedded in leading financial applications, the economic benefits to taxpayers and partners represent a new frontier for these platforms.

“april has demonstrated strong execution in a historically complex space,” said Adams Conrad, who led the round from QED Investors. “It’s rare to see a company with the potential to reshape how millions of Americans interact with the tax system, while also powering the next generation of fintech and financial services innovation. As april succeeds in helping more people achieve net-neutral tax outcomes, the downstream effect is profound—not just for individuals, but for the broader economy.”

About april

april is the only embedded, year-round tax platform built to power smarter financial decisions. From filing to planning to onboarding, april’s white-labeled tools bring real-time tax intelligence into the platforms people already use, helping users understand the impact of every paycheck, equity transaction, or income shift, and stay on top of tax payments throughout the year. Built to handle even the most complex tax situations, april’s AI-powered tax engine ingests data directly from partner apps to deliver accurate outcomes in record time—making tax planning and filing more connected, contextual, and accessible than ever. With API-first infrastructure and seamless data integrations, april helps partners deliver more value, deepen loyalty, and turn taxes into a strategic edge.

About QED

QED Investors is a global leading venture capital firm based in Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages its partners’ decades of entrepreneurial and operational experience, helping companies achieve breakthrough growth. Notable investments include AvidXchange, Betterfly, Bitso, Caribou, ClearScore, Creditas, Credit Karma, Current, Flywire, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly, SoFi, Wagestream and Wayflyer.

Contacts

Avenue Z
april@avenuez.com

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