Aibidia, a Helsinki, Finland-based company that offers a transfer pricing platform, raised €13 million in Series A funding.
The round was co-led by DN Capital and FPV Ventures, with support from existing investors including Icebreaker.vc and Global Founders Capital.
The funding will be used to further expand Aibidia’s world-class team and global presence in London and Helsinki and continue innovating the platform.
Aibidia's platform enables multinational enterprises and their advisors to manage the global cross-border business and transfer pricing obligations on the same platform, helping companies to define fair global transfer pricing and comply with cross-border tax obligations and regulations.
“At Aibidia we’re helping solve one of the biggest problems for multinational companies. We’ve built the first data-driven, end-to-end platform where all TP stakeholders can conduct their activities without the time and cost restraints that have plagued the sector for decades. We have big plans for the coming months and years and it’s fantastic to have FPV Ventures, DN Capital, Icebreaker.vc and GFC with us for the journey.” says Hannu-Tapani Leppän, CEO and Founder of Aibidia.
The platform has already signed partnerships with PwC Finland and other global accounting and consulting member firms and manages over 5,000 entities across 150+ jurisdictions from offices in Helsinki and London.
Company: Aibidia Oy
Raised: Series A
Funding Month: May 2023
Lead Investors: DN Capital and FPV Ventures
Additional Investors: Icebreaker.vc and Global Founders Capital
Company Website: https://aibidia.com/
Software Category: Digital Transfer Pricing
About the Company: Founded in 2014 by Hannu-Tapani Leppänen, Aibidia is the first platform to help multinational enterprises and their advisors manage global cross-border business and related transfer pricing obligations together, on the same platform. It is pioneering a truly collaborative digital platform that will allow all stakeholders, from in-house professionals to advisers, to tax authorities, to work together to revolutionize the transfer pricing process, while empowering tax professionals to make data-driven decisions. The platform now manages 5000+ entities across 150+ jurisdictions from offices in Helsinki and London and has signed partnerships with PwC Finland plus other leading global accounting and consulting member firms.