april Raises $38M Series B to Embed Tax into Every Financial Decision

Embedded tax platform april has successfully raised $38 million in a Series B round led by QED Investors, with additional backing from Nyca Partners and Team8. This latest round brings the company’s total funding to $78 million, marking a significant milestone in its journey to reimagine how tax integrates into personal finance.

Transforming Tax Into Year-Round Infrastructure

The funding follows a period of rapid growth and innovation. In early 2025, april made headlines by becoming the first new company in 15 years to attain national e-file coverage—a status held by only about ten firms in the U.S. tax ecosystem. During the 2024 tax season, april was integrated across 50+ financial platforms, handling hundreds of thousands of returns. As of mid-2025, april has already tripled in size, underscoring a surging demand for embedded tax solutions in modern banking and fintech.

Expanding Capabilities and Reducing Filing Time

april’s product suite has also evolved beyond self-service filing. The company recently introduced pro-assisted and pro-led tax services, enabling its partners to offer a wider spectrum of filing support directly within their apps and services. With seamless federal and state integration, april now offers a single, streamlined process that can cut filing time to just 22 minutes, compared to the IRS’s 13-hour average.

These innovations, combined with a Net Promoter Score (NPS) over 60, reflect growing user trust and satisfaction. In fact, refund deposit rates exceeded 98% across partner platforms, showing the strong business case for embedding tax intelligence into consumer-facing financial tools.

Building a Tax-Optimized Financial Experience

Co-founder and CEO Ben Borodach emphasized the long-term vision: “Using AI-assisted development, we built a fully compliant national e-file platform that lives inside the financial apps people already use. Now, we’re expanding beyond just filing to support a broader range of complex tax needs.”

april is actively building solutions for paycheck withholding, quarterly payments, capital gains, retirement planning, and small business ownership—key areas where most financial tools currently lack tax-optimized guidance.

Creating Holistic Financial Journeys

According to Raj Doshi, april’s President and COO, “Tax has traditionally been separated from people’s primary financial experiences. april lets our partners bring it into the core of their offering—delivering real-time insights that help users make better financial decisions.”

Leading platforms like Compound and Carry have already integrated april to offer digital and human-powered tax planning for users with complex financial lives. Gusto Wallet, meanwhile, used april’s tools to help workers with variable income optimize withholdings, increasing take-home pay by more than $1,200 annually.

These early partnerships demonstrate how integrated tax logic not only improves financial health for individuals but also boosts retention and engagement for financial apps.

A Vision That Aligns with Fintech’s Future

“april has proven it’s possible to execute at a high level in the highly complex tax space,” said Adams Conrad of QED Investors. “More than simplifying filing, it enables Americans to reach net-neutral tax outcomes—potentially creating a meaningful ripple effect across the economy.”

About QED Investors

 Founded by Nigel Morris and Frank Rotman, QED specializes in backing disruptive financial services startups across the globe. With a proven track record, its portfolio includes notable investments such as Credit Karma, Nubank, Klarna, SoFi, and Remitly. Beyond capital, QED offers hands-on support, emphasizing sustainable growth and long-term value creation.

About april

april is the first fully embedded, always-on tax infrastructure platform, uniquely designed to integrate real-time tax intelligence into personal finance apps. From initial filing to ongoing, year-round planning, its AI-powered engine can seamlessly handle even the most complex scenarios. Moreover, april’s API-first model and seamless partner integrations enable platforms to transform tax into a strategic asset—ultimately driving user value, boosting loyalty, and empowering smarter financial decision-making.

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