BREAKING — april raises $38M Series B led by QED Investors First company in 15+ years to earn national e-file coverage Median filing time: 22 minutes vs. IRS-average 13 hours 50+ partners — Gusto, Dayforce, Carry, Compound, ZenLedger 95% of users filed for free Total funding to date: $78M BREAKING — april raises $38M Series B led by QED Investors First company in 15+ years to earn national e-file coverage Median filing time: 22 minutes vs. IRS-average 13 hours 50+ partners — Gusto, Dayforce, Carry, Compound, ZenLedger 95% of users filed for free Total funding to date: $78M
The Fintech Frontpage Vol. IV · New York Edition Est. 2021

The tax engine hiding inside your favorite apps.

april rebuilt tax filing from scratch, cleared the national e-file wall no startup had crossed in 15 years, and quietly wired itself into the banks, payroll systems, and fintechs Americans already use.

april logo and brand mark
april — the mark The lowercase "a" folded into a filing tray. Photographed here in the company's signature indigo, on the brand's paper cream.
$0
Total Raised
0
Embedded Partners
0
Median Filing Time
0
Refund Deposit Rate*
The Story

Making the most dreaded form in America disappear

The IRS estimates the average tax return takes about 13 hours. april's median is 22 minutes. The gap is the entire business.

Every spring, Americans pour an estimated 6.5 billion hours into filing their taxes. april, a New York company founded in 2021, started from a contrarian question: what if you never had to visit a tax website at all - what if the app that already knows your income just handled it?

That premise turned april into infrastructure rather than a destination. Instead of competing for anxious filers each April, it built an AI-powered tax engine and lets other companies - payroll providers, banks, wealth platforms, fintechs - embed filing, planning, and estimates directly inside their own products. The tax experience is white-labeled, mobile-first, and pre-populated with data the partner already holds.

The approach demanded work most startups avoid. april wrote its calculation and e-file engine from the ground up and pursued national e-file coverage - a regulatory grind so steep that only roughly ten companies have ever completed it, and none in more than 15 years until april did in early 2025.

The payoff is speed and reach. Across more than 50 partners, april has reached millions of Americans and processed hundreds of thousands of returns, with 95% of users filing for free and refund deposits landing at rates above 98%. It is, in effect, quietly rebuilding a piece of American tax plumbing.

We're breaking through the red tape of a complex industry with the power of AI.
— april, on its mission to embed tax into every financial decision
What it does

A tax layer, not a tax website

The product

Embedded filing

A white-label filing flow partners drop into their app. Forms auto-populate from partner data, so a return that would take hours collapses into roughly 22 minutes.

The customers

Financial platforms

Fintechs, banks, payroll and benefits providers, and wealth managers - who serve their end users tax tools without building an engine themselves.

The problem

Once-a-year panic

Tax is treated as an annual deadline instead of a continuous financial signal. april turns it into year-round planning: withholding, quarterly payments, forecasts.

How long a tax return takes

Median april filing time vs. IRS-estimated average · source: april, IRS
IRS avg. return
13 hours
april median
22 min

Bars scaled to time. april is roughly 35x faster.

The difference

Why april isn't just another TurboTax

The incumbents built destinations. april built an engine other companies plug into.

Distribution

Reach through partners

Rather than buy customers with ads, april reaches filers through the apps they already trust - a B2B2C model that turns each partner into a front door.

Moat

National e-file coverage

The years-long regulatory approval almost no one attempts. april holds it, making its engine hard to replicate and expensive to challenge.

Pricing

Free for 95%

Partners commit to flat-fee or fully free filing for consumers. The money is in being the infrastructure, not in charging stressed filers.

Scope

Year-round, not seasonal

Withholding optimization, quarterly payments, and forecasting for capital gains, retirement, and small business extend april past filing day.

The alternatives: Column Tax is the closest embedded-tax rival, while Intuit's TurboTax, H&R Block, and TaxAct dominate standalone consumer filing. april's wedge is being API-first and white-labeled rather than a website of its own.

The founders

Who built it

Co-Founder & CEO

Ben Borodach

Former Deloitte fintech strategist who incubated cybersecurity and fintech ventures acquired by PayPal and Bitsight. Named to Fast Company's Impact Council.

Co-Founder & CTO

Daniel Marcous

Data scientist and former CTO of Waze - the navigation startup Google bought for about $1B. He treats tax like a messy, real-time data problem.

President & COO

Raj Doshi

Growth leader from Google who ran initiatives at TaxAct and Avantax, work credited with generating more than $1.2B in shareholder value.

The timeline

From founding to national coverage

2021

april is founded in New York

Borodach, Marcous, and Doshi set out to build an embedded, AI-powered tax engine.

2022

$30M Series A after first tax season

QED Investors leads a $30M round backed by fintech veterans following april's first embedded rollout.

2023

The engine scales across partners

april's from-scratch engine and APIs begin powering filing inside a growing roster of fintech and payroll partners.

2024

Pro-assisted filing and 50+ partners

Human tax-pro support is added, and april reaches millions of Americans through more than 50 partners.

2025

National e-file coverage and $38M Series B

april becomes the first company in 15+ years to earn national e-file coverage and raises a $38M Series B led by QED, reaching $78M total.

The money

$78M, three rounds, one thesis

RoundAmountDateLead & Investors
Seed$10M2021Team8 and early fintech backers
Series A$30MJul 2022QED Investors, Team8, Acorns & eToro founders
Series B$38MJul 2025QED Investors (lead), Nyca Partners, Team8

The Series B thesis: embed tax into every financial decision.

In the wild

Where april already lives

Payroll

Gusto

Withholding optimization embedded in payroll; users reported $1,200+ in added annual take-home pay.

Earned wage

Dayforce Wallet

On-demand pay platform offering april's embedded filing to workers.

Planning

Carry

Tax planning platform integrating april's filing and planning tools.

Wealth

Compound

Wealth platform embedding april's DIY and Expert filing capabilities.

Crypto

ZenLedger

Crypto tax platform partnering with april to handle filing.

Fintech

Rain

Earned-wage-access fintech partnering with april for embedded tax.

tax-as-a-serviceembedded financeai tax enginewhite-labelnational e-fileb2b2cyear-round tax
The questions

What people ask about april

What does april do?

april provides an AI-powered, embeddable tax engine that lets financial apps offer tax filing, planning, and estimates to their users - white-labeled and mobile-first.

Who are april's customers?

Financial platforms - fintechs, banks, payroll and benefits providers, and wealth managers - who embed april for their end users. Partners include Gusto, Dayforce Wallet, Carry, Compound, and ZenLedger.

How is april different from TurboTax?

Instead of a standalone consumer website, april is an API-first, white-label engine other companies embed. It also holds national e-file coverage and offers free filing for the vast majority of users.

How much has april raised?

$78M total, including a $10M seed, a $30M Series A in 2022, and a $38M Series B in July 2025 led by QED Investors with Nyca Partners and Team8.

Who founded april?

Ben Borodach (CEO), Daniel Marcous (CTO, formerly CTO of Waze), and Raj Doshi (President & COO), in 2021, headquartered in New York City.