Spanish AI accounting platform Kabilio has raised €10 million in a funding round led by Picus Capital and Visionaries. Spain’s public technology innovation agency, CDTI, also participated in the round. With this latest investment, the company has raised a total of €14 million since its launch. Picus Capital and Visionaries had also led Kabilio’s pre-seed funding round.
Founded by Jose Ojeda and Álex Valls, Kabilio develops an AI-powered platform that helps accounting firms and small businesses manage their financial and administrative work more easily.
In Spain and many other European countries, small businesses often hire external accounting firms to manage their bookkeeping and tax-related tasks. These firms handle large numbers of invoices, bank transactions and financial documents. Many of these tasks still require employees to enter information manually and check financial records.
Kabilio aims to reduce this workload by using AI to automate repetitive accounting tasks. However, accountants remain responsible for checking and approving the results.
Its platform can read invoices, suggest accounting entries, match bank transactions and prepare financial records. It can also identify issues that need an accountant’s attention. The technology works with the accounting software that firms already use, allowing professionals to review and approve information instead of entering everything manually.
According to the company, its technology can reduce the time spent on bookkeeping and matching financial records by around 60%. It also organises invoices, transactions and accounting records into structured data. The platform learns from the rules and decisions made by accounting firms to improve its automation capabilities.
Kabilio is also developing an AI accounting agent that can handle tasks such as collecting invoices, matching bank transactions, checking accounting entries and asking clients for missing documents through email and WhatsApp.
Accountants can give the AI agent instructions in simple language and decide how much work it can handle independently. Several accounting firms are already testing this technology.
The company has also launched Kabilio Empresas, a platform designed for small businesses. It allows them to create invoices, connect their bank accounts and track their cash flow. Businesses can also share their financial information with their accounting firms in real time.
Fiscalidad Inteligente and Alemany Assessors are already using Kabilio Empresas to manage a large part of their client portfolios.
“An agent is only as good as the data it works on. That is why we are bringing the firm’s clients onto the same platform: the moment a business issues an invoice or a payment hits its bank, the firm has it and the agent will be able to act on it. The firm is freed from busy work, and its clients feel the difference, “said Álex Valls, co-founder and co-CEO of Kabilio.
Kabilio will use the new funding to further develop its AI accounting agent, automate more accounting tasks and expand its platform for accounting firms and small businesses.
