AI-based tax platform Heru raised a $6 million seed-round led by Gradient Ventures, Google’s AI-focused venture fund. The round was followed by SOMA Capital, GFC, Moving Capital and Mike Shoemaker, Roofstock’s Chief Operating Officer, alongside continued support from Flourish Ventures and Magma Partners.
Heru leverages AI to automate thousands of rules and streamline the entire tax filing, retention, and reporting process. The company’s technology provides customers with better financial planning tools and a holistic view of every financial transaction’s potential impact on their taxes. Heru offers both a front-end solution and an embedded integration for companies or enterprises.
“While the integration of embedded financial solutions in industries like banking and payments is not a new concept, Latin America is about to witness a new wave of tax innovation. I’m really excited to be building Heru on the cusp of this technological revolution,” said Mateo Jaramillo, CEO and co-founder of Heru. “We’re empowering individuals and businesses with critical financial planning tools so they can stay up to date on evolving regulations and make more informed financial decisions. We believe this technology is fundamental to reducing financial inequality in Latin America.”
Heru will use its capital to expand its suite of products and to improve its core tax automation technology both for its end customers and business partners like Uber, Rappi, UberEats, Mercado Envios Extra (Mercado Libre), Cornershop, Beat, amongst others.
“Latin America’s gig economy is undergoing a massive transformation, accelerated by recent regulations and emerging payment technologies,” said Zachary Bratun-Glennon, Partner at Google’s Gradient Ventures. “Heru is uniquely positioned to capitalize on this opportunity and we’re looking forward to supporting Mateo, Stiven, and their team along the way.”