April, the fintech startup building embedded tax tools, just closed a $38 million Series B round led by QED Investors, the company’s founder Ben Borodach told Axios exclusively. Nyca Partners and Team8 also participated. With this round, April’s total funding now reaches $78 million.
Why Embedded Tax Matters
Integrating tax services directly into banking or investment apps makes tax planning part of everyday money decisions. Instead of waiting until April, users get ongoing insights and avoid surprise bills or missed deductions. In other words, tax isn’t an annual chore, it is woven into finance.
How April’s Toolkit Works
April operates via API. Fintech platforms plug in April’s tech to offer:
- SaaS-style pricing, so partners know exactly what they pay, and can optionally mark up for end-users.
- Embedded e-filing, covering federal and now all 50 states through government endorsement.
Their mission is to embed tax in every financial decision and make tax planning personal, automated, and part of everyday money management.
Standing Up to Legacy Giants
Intuit, H&R Block, Thomson Reuters, and Wolters Kluwer have dominated tax prep for years. April is challenging them with modern tech and is now the first new company in 15 years to gain national e-file status. That stamp means they can legally handle returns in all states.
Product Expansion & Partner Growth
Over the last year, April introduced:
- Pro-assisted and full pro-led filing
- Quarterly estimated tax tools for solopreneurs and self-employed
- Paycheck withholding optimization tools
Demand is rising, especially from wealth platforms targeting mass-affluent users. April is currently in talks with a trillion-dollar asset manager to embed real-time tax support.
Rapid Scale & Operational Metrics
Performance stats signal momentum:
- Slashes IRS average tax prep time from 13 hours to about 22 minutes
- Handled hundreds of thousands of returns across more than 50 fintech partners last season
- Business has grown 3× year-to-date, and 7× over the past 12 months
In short: heavy usage and fast growth.
What’s Coming Next
April’s roadmap includes:
- Advanced tax planning covering capital gains, retirement, and stock management
- Real-time tax impact on trades via partnership with a major U.S. stock exchange
Imagine seeing exactly how selling shares changes your tax bill before you click “sell.”
Final Take
April’s fresh funding solidifies its position as a frontrunner in embedded tax tech. They are pushing beyond basic tax prep toward active, personalized financial guidance. This is not just about filing forms, it is about making smarter money decisions as they happen.
If you are building or using a fintech, expect tax advice at the point of money movement, from investment platforms and banking apps to payroll systems. April sees an opportunity to transform tax from a pain point into a financial advantage.
