Spanish fintech Kabilio has raised €10 million, according to Tech.eu. Picus Capital and Visionaries led the round, and CDTI, Spain's public agency for technological innovation, took part. Both lead investors also backed the earlier pre-seed round. Total funding since launch is now €14 million.
What Kabilio sells
The platform targets accounting firms and the small businesses they serve. In Spain and much of Europe, small companies commonly hand bookkeeping and tax work to outside firms, which then process large volumes of invoices, bank transactions and documents, often with manual input and reconciliation.
Kabilio's software reads invoices, proposes accounting entries, matches bank transactions, prepares reconciliations and flags the cases that need a professional's attention. It runs next to the software a firm already uses, and accountants review and approve instead of typing. The company says this cuts time spent on bookkeeping and reconciliation by about 60 per cent. That figure is the company's own claim, not an independent measurement.
The agent
The new element is an AI accounting agent. It is meant to handle tasks such as fetching invoices, reconciling transactions, validating entries and asking for missing documents by email and WhatsApp. Accountants give it instructions in plain language and decide how much autonomy it has. Several firms are piloting it now.
Kabilio has also launched Kabilio Empresas, a platform where small businesses issue invoices, connect bank accounts and watch cash flow, while sharing the data with their accounting firm in real time. Fiscalidad Inteligente and Alemany Assessors use it for a large part of their client portfolios.
Co-founder and co-CEO Álex Valls put the logic this way: an agent depends on the quality of its data, so the firm's clients are being brought onto the same platform. When a client issues an invoice or a payment arrives, the firm sees it and the agent can act.
What comes next
A later phase would extend the agent to the small business clients themselves. The plan is for it to issue invoices, chase overdue payments, ask for missing receipts and answer routine accounting and tax questions. The source gives no date for this phase.
Scale
Kabilio says it works with nearly 500 accounting firms, up from 100 a year ago. Named customers include Adlanter, Solfico and Gemap, the last two part of the iusTime group. The team has grown to 80 people, more than half in product and engineering. The new money will fund the agent rollout, more workflow automation and the shared platform for firms and their clients.