mika has raised fresh funding to grow its AI-native financial operating system for SMEs, automating bookkeeping, tax filings and accounting processes while expanding the platform.
Tamara Djurickovic14 minutes ago
Berlin-based
vertical AI startup mika has raised €6 million in a seed round led by
pan-European investor Smedvig Ventures. Basel-based family office Wecken &
Cie. (Care4 AG) also participated, alongside Dennis Bemmann and Michael Brehm
(studiVZ), Johannes Ditterich (limango), and Martina Pfeifer
(encourageventures). Existing investors Keen Venture Partners and Dutch
Founders Fund increased their stakes.
Germany has almost
one million small incorporated businesses, most of them GmbHs and UGs, which
are required to maintain accounts and submit tax filings. While company
management can theoretically handle these processes themselves, the complexity
of tax rules and the potential consequences of errors mean many small
businesses rely on tax advisers or firms.
mika is targeting
this process with an AI-native financial operating system for SMEs that handles
ongoing bookkeeping, VAT returns, annual accounts and tax filings. At the core
of the platform is an AI-native general ledger developed specifically for
German accounting.
The technology
reads receipts and payments and uses different AI models depending on the task,
combined with accounting rules and domain knowledge developed by mika. It
categorises transactions, records them and explains individual entries to
users.
Trained accountants
at mika review the results and intervene when cases require human involvement.
Users can also query their financial information through mika or using assistants such as ChatGPT or Claude. The platform
can explain correspondence from tax authorities and answer questions about
company accounts and finances. Individual tax advice is not currently part of
the service, with mika instead working with licensed tax advisers from its
network
The moment you
start a GmbH in Germany, you’re told you need a tax adviser. It goes so far
that some founders think it’s a legal requirement. To me, it’s obvious that
this cannot be how it works. At mika, we use AI to tear down that barrier, so
that your bank balance or the family you were born into no longer decides who
gets to start a company,
said Agnieszka Walorska, founder and CEO of mika.
At the beginning of
the year, around 400 GmbHs and UGs were using mika, compared with more than 750
today. The company initially focused on digital-first service businesses such
as agencies and consultancies and has since expanded its customer base to SaaS,
property, e-commerce, retail and skilled trades.
The company will
use the new funding to support growth and further develop its platform.
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