Finnish fintech company Aibidia has recently secured $28 million in Series B funding, which will be used to expand its AI-driven tax technology platform for the U.S. market. This round was led by Activant, with participation from existing investors DN Capital, FPV, and Icebreaker.vc, marking an important step forward as Aibidia provides advanced tax compliance and transfer pricing solutions for global enterprises.
Image source note: Image generated by AI, licensed through Midjourney.
Since its founding in 2018, Aibidia has become a key player in the large enterprise tax technology ecosystem. Its platform automates and optimizes global transfer pricing and tax compliance processes, helping multinational corporations like Unilever, Nokia, Dyson, and food delivery giant Delivery Hero navigate the complexity of international tax laws. By streamlining tax-related workflows and ensuring compliance with complex global tax regulations, Aibidia enables companies to reduce risks and save valuable time.
Transfer pricing is the process of setting transaction prices between internal subsidiaries within multinational corporations. Although this process is crucial, it is often highly complex. As global trade grows, tax regulations such as OECD’s BEPS2.0 framework and the EU's BEFIT initiative are becoming increasingly stringent. Aibidia’s AI platform tackles these complexities by automating calculations, risk assessments, and scenario modeling, helping companies stay compliant and avoid hefty fines.
Aibidia is currently expanding its presence in the U.S. market, with more than 15% of its revenue already coming from American clients. The new office opened in Manhattan is specifically designed to better meet the needs of the U.S. market. Aibidia’s CEO, Hannu Tapani Leppänen, stated: "Multinational corporations face increasingly complex webs of tax regulations. Our platform helps them operate their global supply chains more efficiently. This funding will help us bring our technology to the U.S., meeting the growing demand."
In addition, Aibidia's success is also due to its innovative applications of artificial intelligence and machine learning. The platform uses advanced algorithms to automate complex manual tasks, significantly improving efficiency and reducing reliance on external consultants. The platform's machine learning capabilities can also conduct predictive analysis, helping businesses predict potential tax risks.
With its successful experience in Europe, Aibidia plans to expand its solutions globally, offering scalable and adaptable AI-driven transfer pricing solutions to more industries. This round of financing further validates Aibidia's innovation in addressing complex tax challenges and strengthens its leading position in the AI fintech sector.
Key points:
🌍 Aibidia secures $28 million in Series B funding to expand its AI tax technology platform in the U.S. market.
💡 The company is dedicated to helping multinational corporations address increasingly complex global tax regulations by automating and optimizing tax compliance processes.
🚀 Aibidia plans to further promote its solutions, continuously expanding into international markets, and driving the development of global tax technology.
