Press

• Financing round of 800,000 euros, led by investors: Keen Venture Partners, DFF, SlimmerAI
• Startup mika was founded in 2022 and experienced a realignment under new management in 2024
• This generative AI-based financial management for small businesses aims to eliminate bureaucratic hurdles and simplify financial management for small businesses

Berlin, June 18, 2024 – mika, a Berlin-based GenAI startup focused on reducing bureaucratic hurdles for small businesses, has secured €800,000 in pre-seed funding. The investment round was led by Samen Slimmer, an alliance consisting of Keen Venture Partners, DFF and Slimmer AI. mika develops 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.

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 companies 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 on, as similar problems exist in neighboring countries, according to findings from the Global Entrepreneurship Monitor.

"Small businesses are the backbone of our economy, yet they are drowning in bureaucracy - overburdened, underserved and lost in paperwork," said Agnieszka M. Walorska, CEO and founder of mika. "As a migrant, I started my first company without a network and know these challenges firsthand; 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. That's mika.

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 achievement. 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."

mika's first offering is an AI-powered accounting and tax co-pilot designed to automate essential financial tasks. This first product aims to:

• Save time and reduce errors by streamlining automated accounting and VAT reporting for small businesses.
• Optimize financial health by providing AI-driven, proactive advice and insights.
• Provide real-time support and queries through a conversational AI-driven interface for accountants. • Help businesses understand and respond to official communications by interpreting letters from tax authorities.

The waitlist is open to use mika's tools, and the company is seeking additional collaboration with tax advisors. About mika: Berlin-based GenAI startup mika aims to make financial management easier for small businesses. mika's mission is to promote financial inclusion by providing small businesses with AI-driven tools that automate accounting, tax returns, and financial advice. By collaborating with tax advisors, mika combines the best of AI and human expertise, making expert-level financial navigation accessible to all small businesses. Originally founded in 2022, the startup pivoted to its current focus in 2024 under the leadership of co-founder Agnieszka Walorska.