Aibidia secured €4.2 million in a funding round led by Global Founders Capital and Icebreaker.vc.
Aibidia, a Helsinki, Finland-based company developing a transfer pricing digital platform, announced the completion of a seed funding round of €4.2 million ($4.7M).
In addition, the Finnish agency Business Finland also took part in the round, providing €1.25 million of the investment.
In conjunction with the investment, the company announced that Ketan Patel, the Global Head of Tax Technology at Morgan Stanley, is joining Aibidia’s advisory board.
Aibidia, founded in 2014 and led by CEO Hannu-Tapani Leppänen, developed a platform with the aim to digitalise and shape the way the transfer pricing professionals work and live.
The transfer pricing is a tax and accounting term referring to the rules and methods of pricing transactions within and between enterprises under common ownership or control. Aibidia's digital transfer pricing software combines in-depth legal, tax, economic, AI and business intelligence and helps companies automate and speed up the processes involved.