Kabilio Aims to Revolutionize Accounting with AI Innovation
Kabilio, a company in Barcelona, has acquired €4 million in preseed capital to change the way accounting works. Visionaries Club and Picus Capital spearheaded the investment, and ENISA gave €200,000 in public backing.
The money will let Kabilio grow its personnel, speed up the development of its products, and launch in Spain before moving into other European countries. The startup wants to use smart automation to change the way accounting works.
Automating Tedious Tasks for Accounting Professionals
José Ojeda and Álex Valls started Kabilio in 2024. The company works to get rid of the repetitious administrative tasks that take up most of an accounting firm’s time. The AI platform takes care of getting bills, matching statements, and keeping an eye on deadlines.
These duties frequently take a lot of time during the times when quarterly reports are due. Kabilio’s technology is meant to relieve professionals from their daily tasks so they can focus on giving advice and making strategic decisions.
Founders Bring Experience and Vision From Leading Firms
Ojeda and Valls, the cofounders, both have a lot of expertise in software and consulting. Ojeda worked for McKinsey, Rocket Internet, and 011h. Valls worked for Social Point, Exoticca, and 011h before that.
They were both frustrated with how slow their job was, so they invented Kabilio. They saw how hard these manual processes were on experts and how generative AI might help automate them.
Recommended Article: OpenAI’s Sora App Sparks Global Debate on AI Deepfakes
Generative AI Delivers 97% Accuracy in Complex Accounting
Kabilio’s platform uses generative AI to automate accounting tasks that involve a lot of data, such as processing invoices and reporting on compliance. The system can handle complicated tasks like reverse charge VAT and transactions across EU countries.
The AI gets better over time by learning from the same inputs again and again. Right now, it gets it right around 97% of the time. This makes sure that compliance is reliable and that accountants can get more work done.
Advanced Bank Reconciliation Simplifies Financial Management
Kabilio’s powerful bank reconciliation tool is 1 of its best features. It works directly with most Spanish banks. It automatically matches invoices to transactions with little help from people.
Advisors may check and fix outcomes all in 1 easy-to-use interface. This function gets rid of the necessity for manual uploads, which cuts down on mistakes and saves both companies and freelancers important time.
Introducing Kabi, the AI Assistant for Accountants
Kabilio is testing an AI assistant called Kabi that can understand and respond to accounting data in plain English. Instead of having to deal with complicated processes, users may ask for financial information in a conversational way.
Future versions of Kabi will be able to handle management chores on their own, which will enable accountants to totally hand off boring jobs. The assistant is the next step in making workflows smarter in professional services.
Pioneering A New Era Of Digital Transformation In Accounting
Ojeda and Valls see a future where AI changes the way consulting businesses work with their customers. They think this time is like the software revolution of 20 years ago, which they describe as a similar turning moment in technology.
The goal of Kabilio is to provide the infrastructure that will allow artificial intelligence to automate tasks, provide insights, and help clients work together. With a lot of backing from investors, the business is ready to lead the next big change in accounting in Europe.
