TaxBit enters into an investment agreement led by PayPal
News Highlights: TaxBit enters into an investment agreement led by PayPal
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TaxBit, a cryptocurrency tax automation software startup, said it has received a new round of funding led by new investors PayPal and Coinbase Ventures, along with existing lender Winklevoss Capital.
The new funding from major FinTech players helps to reinforce “the importance” of the role that custom software solutions play in driving widespread cryptocurrency adoption, TaxBit said in a press release on Thursday (Jan. 7).
The Salt Lake City, Utah startup was co-founded in 2018 by Austin Woodward, Bobby Clayson, Brandon Woodward, and Justin Woodward – CPAs, tax attorneys and software developers. The company provides cryptocurrency tax calculation and withholding for investors, exchanges and payment services.