Pomegra
Barcelona-based Kabilio has raised €10 million led by Picus Capital and Visionaries Club to build an AI agent that chases clients for missing invoices on behalf of Spanish accounting firms.
Key Takeaways
- Kabilio raised €10M on November 5, 2026, led by Picus Capital and Visionaries Club, with CDTI also in.
- Total funding reaches €14M; valuation and the formal round stage were not disclosed.
- The agent enters beta in November 2026, and the company serves about 500 accounting firms, up from about 100.
Lead
Kabilio, a Barcelona startup that applies generative AI to bookkeeping at accounting firms, announced a €10 million round on November 5, 2026. Picus Capital and Visionaries Club led it. Spain's public innovation agency CDTI also took part. Both lead funds had backed the company's €4 million pre-seed a year earlier, which brings total funding to €14 million.
The money goes toward three things: completing an AI accounting agent, pushing distribution of its SME-facing product, Kabilio Empresas, and hiring across product, technology and support. The company employs about 80 people.
What Does Kabilio Actually Sell?
Kabilio sells software to accounting firms that reads invoices, proposes bookkeeping entries, matches bank transactions and flags unusual items for a human accountant to review. It sits on top of the management software firms already use rather than replacing it. Named customers include Adlanter, Solfico and Gemap.
The company says participating firms have more than doubled productivity on bookkeeping and reconciliation work. The company also cites a 60% cut in time spent on those tasks. Both figures come from Kabilio and have not been independently verified.
What Will the New AI Agent Do?
The agent is designed to collect invoices and bank statements, reconcile accounts and contact clients by email or WhatsApp when records are missing. Accountants set the instructions and decide how much autonomy it gets for each client. Several firms are testing it now, and a beta is scheduled for Accountex España in Madrid on November 18 and 19.
This is the least glamorous part of an accountant's week, and that is the point. Chasing receipts consumes hours that no software currently recovers. It is also where an error is cheapest to catch, since a human reviews the output before anything is filed.
How Big Is the Business Behind the Round?
The business is small relative to the check. Spanish coverage of the round cites 2025 revenue of about €92,000 against a loss of €1.4 million, with annualized revenue above €1 million in 2026. Customer count grew from about 100 firms to nearly 500 in twelve months, a fivefold increase.
That growth is real, but it comes off a low base, and revenue per firm remains modest. A €10 million round on roughly €1 million in annualized revenue implies investors are pricing the agent and the SME channel, not the current book. Valuation was not disclosed.
Co-founder and co-CEO Jose Ojeda said the company did not run a traditional fundraising process, and that investors approached after seeing customer growth. Ojeda and co-founder Álex Valls founded the company in 2024 and launched the product in 2025.
Why Did the Same Investors Return So Quickly?
Both lead funds came back within a year because adoption outpaced the pre-seed plan. Insiders re-upping early is a common signal in seed-stage rounds, though it also means price discovery was limited. With no outside lead, the round says less about market appetite for Spanish accounting AI than a competitive process would have.
The CDTI participation gives the round a public-sector anchor. The agency's exact instrument was not specified in the coverage.
What Comes Next for Kabilio?
The next test is whether the agent works in production across hundreds of firms, each with its own clients, habits and software. Accounting is a trust business, and firms will tolerate an agent that is slow before they tolerate one that sends a wrong message to a client. Competition is also arriving from both established accounting software vendors adding AI features and from AI-first finance startups elsewhere in Europe and the US.
Kabilio's focus stays on Spain for now. Spain's large base of small advisory firms, many serving freelancers and SMEs, is a concentrated market that a local product can saturate before expanding.
Outlook
Kabilio has doubled its funding to €14 million and set a clear deadline: the agent beta this month. Revenue is thin, the valuation is undisclosed and the lead investors are returning backers. Results from the beta, and whether firms keep paying for the agent after trying it, will show whether 500 customers become a durable base or a fast start.
