While Google has already pointed out that Artificial Intelligence (AI) is the next big thing in the world, the technology has already been integrated in almost every aspect of our lives. Now AI is also being used to simplify one of the most complicated industries, accountancy.
Leveraging AI based tools, the Swedish startup Bokio is using AI to simplify bookkeeping tasks for small businesses, freelancers, and traders. Founded in 2015 by CEO Viktor Stensson and CTO Mikael Eliasson, the Gothenburg-headquartered tech startup has raised a total funding of €7.1 million so far. In an exclusive conversation with Silicon Canals, Stensson reveals more about the company, what drives its workings, further investment plans and more.
Bokio: How did it all start?
Bokio’s founder Viktor Stensson was not always in the bookkeeping business.
“I used to run orienteering at a very high level. I was not in the national team for the sport, but held 13th position in the Swedish championships, Mikael and I; we were in the same club. At that time, I was also studying at business school at the University of Gothenburg, and then I got a job offer from a traditional management consulting firm. But then, we had different plans and not the usual destiny. Mikael was working as a freelance engineer, and he wanted some help for his taxes. I bought an accounting system, but it was complicated, and that is when we started discussing and realised that this could have been done so much better. And that day Bokio was born,” says Stensson.
With Bokio, the founders took a different approach where they realised their job needs to create more successful companies.