Aibidia Raises $28M to Revolutionize AI-Driven Tax Solutions in the US

Finnish Fintech's Major Funding Boost

Aibidia, a pioneering Finnish fintech company specializing in AI-driven tax technology, has secured $28 million in Series B funding. This capital injection is aimed at scaling its sophisticated tax tech platform specifically for multinational corporations operating in the United States. The funding round was led by Activant, with support from existing investors including DN Capital, FPV, and Icebreaker.vc, underscoring strong confidence in Aibidia's growth potential.

Transforming Transfer Pricing and Tax Compliance

Since its inception in 2018, Aibidia has established itself as a vital player in the tax technology ecosystem. Its platform automates and optimizes transfer pricing and tax compliance workflows for global enterprises such as Unilever, Nokia, Dyson, and Delivery Hero. By simplifying complex international tax regulations, Aibidia helps companies mitigate risks and save valuable time.

Addressing Complex Transfer Pricing Challenges with AI

Transfer pricing involves setting prices for transactions between subsidiaries within multinational corporations, a process complicated by evolving regulations like the OECD’s BEPS 2.0 and the EU’s BEFIT initiative. Aibidia's AI-powered platform automates calculations, risk assessments, and scenario modeling to ensure compliance and reduce costly errors. Centralizing tax data with integrated third-party sources, the platform creates a 'single source of truth' that enhances collaboration across departments and geographies.

Expanding Footprint in the US Market

With over 15% of its revenue coming from US clients, Aibidia has recently opened an office in Manhattan to strengthen its presence. The expansion is fueled by growing demand from US multinational companies, including EPAM Systems, Aptiv, and Omnicom. CEO Hannu-Tapani Leppänen highlights the increasing complexity of tax regulations and how their platform supports efficient global supply chain operations.

AI and Machine Learning Driving Innovation

At its core, Aibidia leverages advanced AI and machine learning to automate manual tasks prone to errors, such as transfer pricing adjustments and risk assessments using real-time data. The platform also offers predictive analytics to forecast tax risks based on historical trends and upcoming regulatory changes. AI-driven scenario modeling allows businesses to test tax strategies before implementation, aiding smarter decision-making.

Global Ambitions and Future Developments

Currently serving over 100 multinational clients with revenues around €7 billion, Aibidia aims to expand beyond Europe and the US into new international markets. Future plans include launching enhanced ERP integrations, advanced tax reporting automation, and improved data transparency.

Growing Market Opportunity

The global tax technology market is projected to double from $18.53 billion in 2024 to $36.72 billion by 2030, driven by increasing regulatory complexity and automation demand. Aibidia's latest funding round and expanding US presence position it to be a leading innovator redefining global tax compliance for enterprises worldwide.