april, an embedded AI tax platform, has secured $38 million in a Series B funding round. The investment was led by QED Investors, with additional participation from Nyca Partners and Team8, bringing april’s total funding to $78 million.
This funding follows several operational milestones for the company. In early 2025, april achieved national e-file coverage, becoming the first new company in over 15 years to reach this status, which only approximately ten other companies hold. During the 2024 tax season, april was accessible to millions of Americans through more than 50 partners, processing hundreds of thousands of tax returns. The business has tripled in size year-to-date, indicating demand for embedded tax solutions within financial institutions. The recent tax season also saw an expansion of april’s filing capabilities, including the launch of pro-assisted and pro-led tax filing services, which enable partners to support a wider 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 filing time to 22 minutes, compared to the IRS average of 13 hours. The platform has reported a Net Promoter Score (NPS) exceeding 60, and partners have observed refund deposit rates over 98% for their users, highlighting the impact of integrating tax functionality 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 users to forecast, optimize, and file taxes within major financial applications. The company has already introduced tools for paycheck withholding optimization and quarterly payments and is developing solutions for complex scenarios such as capital gains, retirement planning, and small business ownership. These areas represent an expansion into high-impact scenarios where many financial platforms currently lack the integrated logic for tax-optimized decision-making.
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 utilizing april’s tax planning tools have reported measurable benefits. Carry, a wealth management technology platform, has integrated april for digital and human-powered tax planning services for complex client situations. Gusto uses april to assist workers with variable incomes in recalibrating withholdings, which has reportedly increased their take-home pay by over $1,200 annually. The integration of tax planning into financial applications presents economic advantages for both taxpayers and platform partners.
Adams Conrad, who led the round from QED Investors, commented, “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 focuses on providing embedded, year-round tax tools that integrate real-time tax intelligence into existing financial platforms, supporting users in understanding the tax implications of financial activities and managing payments. QED Investors is a global venture capital firm based in Alexandria, Va., focused on investing in financial services companies.
