Euclidean Capital

For tax year 2020, there were 167M+ tax returns filed; 151M were filed electronically. While technology has slowly made its way into tax preparation, it’s been done largely in closed ecosystems. Further challenges include major tax preparation software providers H&R Block and TurboTax opting to recently exit the IRS’ Free File Program. Looking to capture this lost opportunity is April, a tax preparation infrastructure solution that works with banks and fintech companies to provide them with the backbone to handle their users’ tax needs as well as directly with consumers via their existing financial relationships (banks, apps, etc). Leveraging machine learning, open banking, and APIs, April’s platform integrates with financial institutions to automate tax preparation – no more shuffling around for bank statements and other documents. The company has successfully translated the tax code into a digital format that offers APIs that will fuel a new wave of innovation for developers and financial service providers by making tax-as-a-service a new offering, which ultimately leads to a more curated, personalized efficient, and optimized experience for filers. AlleyWatch caught up with April Cofounder Ben Borodach to learn more about how April is intent on changing the tax solution paradigm, the company’s strategic plans, and recent round of funding from investors that include Team8, NYCA Partners, Bolt by QED, Treasury, Euclidean Capital, iAngels and founders of several fintech unicorns.