Aibidia, a Helsinki-based company specializing in transfer pricing solutions, has successfully secured €13 million in Series A funding, signaling a major milestone for the startup. The funding round was co-led by DN Capital and FPV Ventures, with notable participation from existing investors, including Icebreaker.vc and Global Founders Capital.
The newly acquired funds will play a crucial role in fueling Aibidia's expansion plans. The company intends to bolster its talented team and strengthen its global presence, particularly in London and Helsinki. Moreover, the funding will be instrumental in driving further innovation of Aibidia's cutting-edge platform.
Aibidia's platform addresses a significant challenge faced by multinational enterprises and their advisors. By providing a comprehensive solution, the platform enables companies to efficiently manage their global cross-border business and transfer pricing obligations. This technology not only assists in defining fair global transfer pricing but also ensures compliance with complex cross-border tax regulations and obligations.
Hannu-Tapani Leppän, the CEO and Founder of Aibidia, expressed his excitement about the recent funding round and the company's mission. He stated, "At Aibidia, we're dedicated to resolving one of the most pressing issues for multinational companies. Our groundbreaking platform, driven by data, offers an end-to-end solution that eliminates the time and cost restraints that have burdened the sector for decades. With ambitious plans for the future, we are thrilled to have FPV Ventures, DN Capital, Icebreaker.vc, and GFC by our side as we embark on this exciting journey."
Aibidia's platform has already garnered notable partnerships, including one with PwC Finland, along with collaborations with other renowned global accounting and consulting member firms. Operating from offices in Helsinki and London, the platform successfully manages over 5,000 entities across more than 150 jurisdictions, solidifying its position as a trusted industry leader. With this latest round of funding, Aibidia is poised to strengthen its global presence, expand its innovative offerings, and continue revolutionizing the way multinational enterprises handle transfer pricing obligations.
The future looks promising for Aibidia as it forges ahead on its path to revolutionizing the international business landscape.
