# Fibo Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fibo-technologies

- Industry: Financial Services
- Headquarters: Tel Aviv-Yafo, Israel
- Website: www.fibotax.com
- Total disclosed funding: $2M
- Latest round: Seed (Jun 16, 2020)
- Investors on record: 2

## About

Fibo Technologies Ltd. offers a digital platform that simplifies tax refund processes, primarily catering to salaried employees in Israel by providing an efficient online questionnaire for tax refund eligibility assessment.Founded in 2018, Fibo Technologies Ltd. operates from Tel Aviv-Yafo, Israel, specializing in tax refund services for individual employees. The company was co-founded by Alejandro Chocrón and Uri Levine, with the latest funding round occurring on June 16, 2020, when they raised USD 2 million in Seed funding led by The Founders Kitchen, alongside contributions from Discount Capital. The total amount raised by the company stands at USD 2 million with one recorded deal.Fibo specializes in providing a digital service platform for tax refunds, primarily targeting salaried employees in Israel. Their core offering is a simplified, user-friendly online questionnaire that facilitates the collection of essential information needed to calculate eligible tax refunds. Fibo assists clients in determining their tax refund entitlement for the past six years, with an average refund amount reported at ILS 5,790. The service is designed for individual employees, making it a convenient option for those who may find the tax refund process complex.Fibo's revenue model is based on fee-for-service transactions, where clients pay for the facilitation and filing of their tax refund claims. Clients start by completing the digital questionnaire free of charge. Once eligibility for a refund is confirmed, Fibo prepares and files the necessary tax forms on behalf of the clients. A service fee is charged only after the tax refund is successfully deposited into the client's bank account, emphasizing client satisfaction and minimizing upfront financial risks.Following the Seed funding round in June 2020, Fibo Technologies Ltd. aims to enhance its service offerings and expand its market reach. The company plans to develop new products designed to further streamline the tax refund process and to target additional markets beyond Israel by 2023. The recent funding will be utilized to support product development and market entry strategies.

## Funding rounds

- Seed, Jun 16, 2020, $2M — Discount Capital, The Founders Kitchen

## Investors

- Discount Capital (https://capitalatlas.ai/funds/discount-capital) — Seed
- The Founders Kitchen (https://capitalatlas.ai/funds/the-founders-kitchen) — Seed