Barcelona Startup Kabilio Secures €10 Million for Accounting Automation

Barcelona-based startup Kabilio, which focuses on optimizing accounting processes, has raised €10 million in a new investment round. The funding was led by Picus Capital and Visionaries, with participation from the Spanish Centre for the Development of Industrial Technology (CDTI). This latest injection of capital brings the company's total funding to €14 million.## Automating Routine TasksThe primary objective of Kabilio is to simplify the daily operations of accounting firms. In many European countries, including Spain, small businesses rely on outsourced firms for their financial record-keeping. This process often involves manually sorting invoices and reconciling them with bank transactions, which is both time-consuming and resource-intensive. Kabilio’s software automatically reads invoices, suggests accounting methods, and identifies discrepancies. According to the company, this technology reduces the time accountants spend on recording and reconciliation by 60%.## Next-Generation AI AgentsThe new capital will allow Kabilio to further develop its "AI agent," designed to assist accountants with complex tasks. It functions like a new employee: it collects invoices and bank statements, makes corrections, and communicates with clients via email or WhatsApp when necessary. The agent is currently in beta testing and is being actively used by several partner firms.## A Unified Ecosystem for BusinessIn September, the company launched the Kabilio Empresas platform, which allows small businesses to connect their invoices and bank accounts directly to their accounting system. This approach enables accountants to view financial data in real-time rather than waiting until the tax period. According to founders Jose Ojeda and Álex Valls, their top priority is ensuring the agent works with high-quality data while maintaining human oversight.Despite the highly competitive nature of the accounting automation sector, Kabilio has demonstrated impressive growth. Over the past year, the number of client firms has increased from 100 to 500, and the team has expanded to 80 employees. These developments are also significant for accounting and financial technology companies in Georgia that are working to implement similar automation solutions, as global market trends are clearly shifting toward delegating routine processes to AI.