Fibo Overview
Fibo is developing a digital platform for tax refunds. The process is free and checks the user's refund for the last six years to see if they've overpaid. If so, the company returns the money from the state without any involvement from the customer. The company's technology consists of a bot that tracks and automates the operations of the accountant and a platform that interfaces with dozens of companies, government agencies, and other sources of information using natural-language processing technologies and optical character recognition.
Cumulative Funding Raised Over Time ($)
Latest News
growth-negative
"Because of the regulation": Fibo, the start-up tax refunds for employees fired most of its employees
Israeli startup Fibo, which provides a digital platform for tax returns for employees, has laid off most of its staff due to regulatory changes. The company, which was founded in 2018, has seen its workforce reduced from 37 to just four part-time employees. Fibo claims that the changes and tightening of regulations have forced it to change its business model. The company has raised just over $2 million in two rounds, mainly from Uri Levine, one of the founders of Waze, who is also defined as a founder at Fibo.
LayoffsManagement Changes
growth-positive
אורי לוין מ-Waze ובנק דיסקונט משקיעים בסטארטאפ הישראלי Fibo, שידאג במקומכם להחזרי מס
Israeli startup Fibo, which developed an automated tax return platform, raised $1.5 million led by TFK venture capital, with participation from Discount Capital and private investors. Fibos platform allows renters to automatically receive tax returns, handling all the bureaucratic process on behalf of the users. The platform uses advanced technology tools, including a bot that performs account actions automatically, and interfaces with dozens of companies, government bodies, and other sources of information. Fibo charges a commission on the returns, ranging from no commission for returns up to 250 shekels to a fixed amount of 1,500 shekels for higher returns. The company plans to use the funding to expand its platform.
Investment
growth-positive
לאף אחד אין ראש להחזרי מס, אז סטארטאפ ישראלי פיתח שירות שעושה את זה במקומכם
Israeli startup Fibo, which develops an automated tax return platform, has raised $600,000 in funding, with investors including Uri Levine, co-founder of Waze. Fibo offers a digital service for processing tax returns for employees, handling all the bureaucratic process automatically. The companys technology includes a bot that performs account actions automatically and a platform that interfaces with dozens of companies, government bodies, and other sources of information. Fibo has already attracted thousands of users who have received millions of shekels in tax returns. The company was founded by Roi Kamahi, Dana Myulgi, and Itamar Aplablat.
Customers
| Sector | Fintech & Insurtech |
Funding
| Total funding | $2.1M |
| Last funding | $1.5M |
| Stage | Seed |
| Rounds | 2 |
| Investors | 3 |
Team Members
4
Employees: 11-50
Web & Social Links
| Website | fibotax.com/ |
| Careers | Careers page |
Locations
Lincoln St 20, Tel Aviv-Yafo, Israel
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