april, an embedded AI tax platform, has secured $38 million in a Series B funding round led by QED Investors, with participation from Nyca Partners and Team8. This investment brings the company’s total funding to $78 million.
This funding follows several significant achievements for april. In early 2025, april became one of approximately ten companies to achieve national e-file coverage, a milestone not reached by a new company in over 15 years. During the 2024 tax season, april’s services were accessible to millions of Americans through over 50 partners, processing hundreds of thousands of tax returns. The company has tripled its size year-to-date, indicating demand for embedded tax solutions within financial institutions. The 2024 tax season also marked the expansion of april’s filing options, introducing pro-assisted and pro-led tax filing services alongside its self-service offering, enabling partners to support a broader range of tax needs directly within their platforms.
april’s AI-powered tax infrastructure integrates federal and state filing into a single workflow. It leverages partner data to pre-fill forms, reducing the median time to file to 22 minutes, compared to the IRS average of 13 hours. The platform reports a Net Promoter Score (NPS) exceeding 60, reflecting user satisfaction. Partners using april saw refund deposit rates over 98%, highlighting the business impact of integrating tax functionality directly into financial platforms.
Ben Borodach, co-founder and CEO of april, stated, “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. Now we’re extending that foundation to address a much broader range of tax needs beyond filing.”
With its core infrastructure established, april aims to deliver connected tax software, enabling millions of Americans to forecast, optimize, and file taxes within major financial platforms. The company has launched tools for paycheck withholding optimization and quarterly payments and is developing solutions for complex scenarios, including capital gains, retirement planning, and small business ownership. These categories represent a new focus for embedded tax, addressing high-impact, high-ambiguity situations where many financial platforms currently lack the logic to guide tax-optimized decision-making. april’s infrastructure is designed to adapt to these complexities.
Raj Doshi, april’s President and COO, commented, “For too long, tax has been disconnected from clients’ primary financial relationships. 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 have reported measurable benefits. Carry, a wealth management technology platform, has integrated april to provide digital and human-powered tax planning services for clients with complex tax situations. Gusto uses april to assist workers with variable income in recalibrating withholdings, which has resulted in an average increase in take-home pay of over $1,200 per year.
Adams Conrad, who led the round from QED Investors, stated, “april has demonstrated strong execution in a historically complex space. 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.”
april is an embedded, year-round tax platform designed to facilitate financial decisions. Its white-labeled tools integrate real-time tax intelligence into existing financial applications, assisting users in understanding the tax implications of financial activities and managing tax payments. Utilizing API-first infrastructure and data integrations, april’s AI-powered tax engine processes data from partner apps to deliver tax outcomes quickly. QED Investors is a global venture capital firm based in Alexandria, Va., founded in 2007 by Nigel Morris and Frank Rotman. The firm focuses on investing in disruptive financial services companies globally, providing a hands-on approach leveraging its partners’ operational experience.
