mika funding news – Berlin-based mika Secures €800k in Pre-Seed Funding

It is developing generative AI-driven autonomous agents that take over accounting tasks, tax returns and financial advice – making financial management more accessible, efficient and cost-effective for small businesses.

As part of mika's development, the company was a participating startup in Earlybird Venture Capital's Vision Lab, a program for outstanding founders in Germany with a migration background who develop compelling solutions.

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90% of companies struggle with bureaucracy – mika has the solution

Small businesses struggle with complex accounting, tax returns and financial planning. mika uses generative AI to automate these tasks and help entrepreneurs focus on growth and innovation rather than bureaucracy.

A recent study by INSM found that 90% of businesses in Germany consider bureaucracy a major burden; mika aims to ease this as a first step. The company plans to serve other European markets later as similar problems exist in neighboring countries, according to findings from the Global Entrepreneurship Monitor.

Agnieszka M. Walorska, CEO and founder of mika said, "Small businesses are the backbone of our economy, yet they are suffocating in bureaucracy overburdened, underserved and lost in paperwork, As a migrant, I started my first company without a network and know these challenges first hand; that's why I'm building mika. Imagine having a CFO-level AI in your pocket that handles all the financial complexities so you can focus on your passion."

The €800k pre-seed funding will support further development of mika's AI-powered accounting and tax co-pilot, initially focusing on the €10 billion German market. This investment round was led by the Samen Slimmer alliance, known for partnering with bold entrepreneurs to build category-defining companies.

Djoni de Vos, Investor at Keen Venture Partners, commented: "Agnieszka makes it possible to get enthusiastic about tax and accounting, and that's quite the accomplishment. The opportunity to bring AI into play to simplify financial management is enormous, and we are very pleased to back an entrepreneur in this space as resilient and driven as Agnieszka."

About Mika

Mika, a 2023 startup, creates autonomous agents with generative AI capabilities to manage accounting, tax preparation, and financial counselling, thereby improving the efficiency, affordability, and accessibility of financial management for small enterprises.