Bokio: Raises €4m

Bokio: Raises €4m

Bokio: Swedish AI start-up, raised €4m in a funding round led by fellow Swede firm Creandum

  • Bokio uses AI to simplify bookkeeping for small businesses, sole traders and freelancers
  • The round also saw participation from European financial group Svea and MD of Techstars Chris Adelsbach
  • New capital injection will use to scale its business in the UK and to expand its accountancy services
  • They also help small-scale entrepreneurs with invoicing, employee expenses, reporting and VAT returns
  • The company’s research suggests UK small businesses spend three working weeks and £5,000 each year completing tax reporting
  • It aims to solve the intricacy of the current tax filing system and also modernise the accounting industry through automation