Kabilio lands €10m from Picus and Visionaries to put an AI agent inside Spanish accounting firms

Barcelona-based Kabilio, which sells AI bookkeeping software to accounting firms, has secured €10m from Picus Capital and Visionaries as joint leads, with Spain's public innovation agency CDTI also putting in money. The cash will pay for an AI agent that firms can hand entire accounting tasks to, a step beyond the invoice reading and bank matching the product already does.

The round takes Kabilio's total funding to €14m. It comes almost exactly a year after a €4m pre-seed, which the same two investors led. Neither the company nor its backers has given the new round a stage label.

What changed in those twelve months is mostly scale. Kabilio says it now works with nearly 500 accounting firms, against roughly 100 when it closed the pre-seed. Headcount has reached 80, and more than half of those people work in product and engineering. Named customers include Adlanter, plus Solfico and Gemap, two firms that sit inside the iusTime group.

A product built for the outsourced bookkeeper

Kabilio's market is a very European arrangement. Small companies in Spain, as in many other countries on the continent, rarely keep their own books; they pay an outside adviser to handle accounts and tax filings. Those firms process heavy volumes of invoices and bank movements, and a large share of that work is still typed in and checked by hand.

The platform, run by co-founders and co-CEOs Jose Ojeda and Álex Valls, tries to remove the typing. It reads incoming invoices, proposes full journal entries, pairs bank transactions with the right records and prepares reconciliations. Anything unusual is flagged for a person. The accountant stays in charge of approval, and the tool runs next to whatever accounting software the firm already uses rather than replacing it.

The company puts the saving at about 60% of the hours spent on bookkeeping and reconciliation. That figure is Kabilio's own. It also stores every document, transaction and entry as structured data and keeps a record of each firm's rules and past decisions, which is the groundwork for automating more of the job.

“Nobody becomes an accountant to chase receipts, and nobody starts a business to do paperwork,” said Jose Ojeda, co-founder and co-CEO of Kabilio.

What the agent will do

The new agent is meant to be treated more like a junior colleague than a feature. Firms will be able to ask it to collect invoices and bank statements from mailboxes, reconcile accounts, check entries and go after missing paperwork, including by writing to clients over email or WhatsApp. Instructions are given in everyday language. The accountant decides, one client at a time, how much the agent may do without sign-off.

The agent goes into beta this month, and several firms are already trialling it. Beyond the agent itself, Kabilio says the money will fund further automation of accounting workflows and the growth of its shared platform for firms and their clients.

That shared platform is the second half of the plan. In September the company launched Kabilio Empresas, a product for the small businesses themselves. They can issue Verifactu invoices, link their bank accounts and follow their cash position, all inside the same system their adviser works in. The firm sees new numbers as they land, not months later when tax returns are due. Two firms, Fiscalidad Inteligente and Alemany Assessors, already run a large part of their client books through it.

Valls framed the client product as fuel for the agent. “An agent is only as good as the data it works on,” said Álex Valls, co-founder and co-CEO. His argument is that once a client's invoice or incoming payment appears in the shared system, the firm has it immediately and the agent can act on it.

Competition for the same desks

Kabilio is not alone in chasing this customer. Ravical, a Belgian startup building an AI platform for accounting firms, raised a $17m seed round a week before Kabilio's announcement, while Visa is testing agents that settle bills from suppliers. Two funded rivals in as many weeks suggest investors see the manual back office of Europe's small businesses as a target for agents.

Kabilio's bet is distribution through the accountant. Small businesses can only join through their adviser, and the adviser sets the limits on what software can do for them. That keeps the firm, which is the paying customer, at the centre of the relationship.

The next phase pushes the agent further down the chain. Kabilio plans to let it work for the small businesses as well, sending invoices, reminding late payers, asking for missing receipts and answering routine accounting and tax questions. The immediate test is the beta now under way: whether firms that already trust the software to suggest entries will let an agent write to their clients on their behalf.