Cenit raises $1.8 million in seed funding to enhance its AI-driven tax automation app for SMEs in Chile and Mexico.

Target Information

Cenit has successfully secured $1.8 million in seed funding to enhance its mobile tax automation application, focusing on its regional expansion into Chile and Mexico. This funding round was led by HI Ventures and aims to improve services for independent contractors and small to medium enterprises (SMEs). Founded by Andrés Liberman and Ronny González, Cenit seeks to simplify tax processes that have traditionally posed challenges for small businesses.

The application is designed to provide real-time connections with tax authorities, allowing users to download invoices automatically and access financial movements within the system. This functionality empowers users to easily monitor their income, expenses, and outstanding amounts without relying on manual processes. Cenit's offering is centered around automating tax tasks using artificial intelligence (AI), thereby providing a more user-friendly experience for fulfilling tax obligations.

Industry Overview in Chile and Mexico

The tax compliance industry in Chile and Mexico has been witnessing a significant shift towards digital solutions, reflecting broader trends in the fintech sector. With an increasing number of SMEs seeking efficient and cost-effective