Barcelona startup Kabilio, which wants AI to take the receipt-chasing out of accounting, has raised €10M in a round led by Picus Capital and Visionaries. CDTI, Spain's public agency for technology and innovation, also took part.

Both lead investors also backed the company's €4m pre-seed round a year ago, and the new money brings its total funding to €14m. Since then, Kabilio has grown from about 100 accounting firms to nearly 500, and its team to 80 people.

Those firms do a job most small businesses would rather not. Across Spain and much of Europe, small companies pass their books and taxes to an outside firm. There, much of the work still means sorting invoices and matching payments by hand.

Kabilio started there. Its software reads invoices, suggests how to book them, matches bank transactions and flags anything odd, while the accountant reviews and signs off. Kabilio says this saves accountants about 60% of their bookkeeping and reconciliation time.

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

The new capital pays for the next step: an AI agent that firms can hand whole tasks to, much as they would a new hire. It will gather invoices and bank statements from inboxes, reconcile accounts, check entries and chase gaps, even messaging clients by email or WhatsApp.

The agent enters beta this month, and several firms are already testing it. Accountants keep the reins, giving it instructions in plain language and deciding, client by client, how much it may do on its own.

Kabilio is also bringing the firms' clients onto the same platform. Kabilio Empresas, launched in September, lets small businesses invoice, link their bank accounts and watch their cash flow in the system their accountant uses. The company then sees new figures as they arrive instead of at tax time.

Later, the company plans to turn the agent towards those businesses too, sending invoices, nudging late payers and answering everyday tax questions for owners. Clients join only through their accountant, who sets the agent's limits.

“An agent is only as good as the data it works on,” said Álex Valls, Kabilio's other co-founder and co-CEO.

Kabilio is entering a busy field, as belgian startup Ravical raised a $17m seed round last week for its own AI platform for accounting firms, while Visa is piloting AI agents that pay supplier invoices.