US-based april, an embedded AI tax platform, has closed a $38m Series B funding round led by QED Investors, with participation from Nyca Partners and Team8.  

This brings the tax solutions vendor’s total funding to $78m.  

april said it will use the funding to offer advanced tax software to help millions of Americans forecast, optimise, and file taxes through major financial platforms. 

The company has introduced tools for paycheck withholding optimisation and quarterly payments.  

It is actively developing solutions for complex scenarios such as capital gains, retirement planning, and small business ownership.  

These areas represent the next frontier in embedded tax, addressing scenarios that many financial platforms struggle to handle, the company said.  

april president and COO Raj Doshi said: “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.” 

According to april, its recent funding follows key milestones, including becoming the first new company in over 15 years to achieve national e-file coverage in early 2025. 

During the 2024 tax season, april was accessible to “millions of Americans” through over 50 partners, processing “hundreds of thousands” of tax returns.  

The company claims to have tripled in size this year, reflecting the growing demand for embedded tax solutions within financial institutions. 

In this tax season, there was an expansion of april’s filing capabilities.  

In addition to its self-service offering, april launched pro-assisted and pro-led tax filing services, enabling partners to address a wider range of tax needs within their platforms. 

april’s AI-powered tax infrastructure integrates federal and state filing into a single flow, utilising partner data to pre-fill forms.  

QED Investors principal Adams Conrad said: “april has demonstrated strong execution in a historically complex space. It is 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.”