Osborne Clarke advises mika on EUR 6 million seed financing round for AI-native alternative to the traditional tax advisory office

Osborne Clarke has comprehensively advised Get Mika GmbH (“mika”), a vertical AI start-up based in Berlin, on its EUR 6 million seed financing round. With the financing, mika is expanding its AI-native infrastructure for accounting, tax and finance for small limited liability companies and accelerating its growth in the German SME segment.

The seed round is led by European venture capital investor Smedvig Ventures. In addition, Basel-based family office Wecken & Cie. (Care4 AG) is participating, as are studiVZ co-founders Dennis Bemmann and Michael Brehm, limango founder Johannes Ditterich and Martina Pfeifer (encourageventures). Existing investors Keen Venture Partners and Dutch Founders Fund are increasing their shareholdings. The transaction underscores the strong attractiveness of AI-native finance and TaxTech business models in the European start-up ecosystem and at the same time illustrates how international VCs are increasingly addressing complex, highly regulated segments.

Instead of digitising the traditional tax advisory office, mika is redesigning accounting, tax and finance as AI-native infrastructure for small limited liability companies. For GmbHs and UGs, mika handles ongoing bookkeeping, VAT returns, annual financial statements and tax returns – supported by a proprietary, AI-based ledger that interprets and processes documents and payments within the German legal framework. The aim is to make it easier for founders to access entrepreneurship by significantly reducing bureaucratic hurdles and costs for standard processes.

“Particularly in the German market, with its especially complex interlinking of accounting and tax law, AI-native solutions such as mika are a highly exciting example of how technology opens up access: to founding a company, to professionalising one’s own financial processes and to more efficient collaboration with tax advisers,” says Robin Eyben, Partner at Osborne Clarke. “mika’s seed round very clearly shows that international venture capital investors are willing to invest early and substantially in start-ups that deliberately venture into demanding, heavily regulated domains – and build real infrastructure there, not just the surface.”

Comprehensive advice on structuring the seed financing round

Osborne Clarke advised mika on all corporate and contractual aspects of the seed financing round. This included, in particular, structuring the investment involving various new and existing investors, designing the venture capital-style participation and governance provisions, and negotiating the financing documentation with the international investor group.

The Osborne Clarke team was jointly led by Giovanni Alexandrov and Robin Eyben (partner responsibility) and further included Vanessa Petre Linbenciuc (all Corporate / Transactions).