With e-commerce becoming increasingly globalized, a company called Taxdoo, which builds API-based tools to help e-commerce companies with tax compliance and other accounting needs, is announcing a round of funding: $64 million, a Series B that the Hamburg-based startup will be using to expand further across Europe and to build what it describes as the […]
On July 1, 2021 there was a big change in the European Union’s Value Added Tax (VAT) law, impacting online retailers, marketplaces and their e-commerce businesses across the EU.
Taxdoo, a Hamburg, Germany-based automated platform for financial compliance in e-commerce, closed a $21m (€17m) Series A round of financing.
The round was led by Accel, with participation from Visionaries Club, 20VC and existing investor HTGF. In conjunction with the funding, Accel’s Harry Nelis had joined its board.
The company intends to use the funds for international expansion, increased hiring, R&D, sales and customer support.
Co-founded by Matthias Allmendinger, Roger Gothmann and Christian Königsheim, Taxdoo provides a platform that automates transaction-level data ingestion, tax calculation and filings across Europe, as well as the integration of financial and accounting information. Customers can also collaborate with their tax advisors through the platform and reduce other compliance burdens, including Intrastat filings.
Fintech start-up Taxdoo raises €17m in Series A funding
From left: Roger Gothmann, Christian Königsheim, Matthias Allmendinger, Imke Steineke, and Moritz Lukas. Image: Thies Rätzke/Taxdoo
Automated financial compliance platform Taxdoo plans to triple its headcount in the next 12 months as it expands across Europe.
German start-up Taxdoo has today (15 December) announced that it closed €17m in Series A funding.
The funding round was led by global venture capital firm Accel, with participation from Visionaries Club, 20VC and existing investor HTGF.
Founded in 2016, Taxdoo has developed an automated platform for financial compliance in e-commerce, helping businesses manage VAT, financial accounting and compliance requirements.