Cryptocurrency-focused accounting technology firm TaxBit has raised $130 million in a Series B funding round.
The Utah-based startup, founded in 2018, provides a product which automates all aspects of cryptocurrency tax compliance for consumers, businesses, and exchanges.
The round valued TaxBit at $1.33 billion.
TaxBit said it will use the capital to expand internationally and to launch an enterprise resource planning (ERP) product.
The round was led by cryptocurrency investor Anthony Pompliano, Tiger Global, Paradigm, 9Yards Capital, Sapphire Ventures, and Madrona Venture Group.
The news comes five months after the company raised $100 million in a Series A funding round in March.
"We are living in a time where everything is going digital, including traditional assets," said founder and chief executive Austin Woodward. "As we've built and deployed modern tax and accounting software tailored to digital assets, it's become clear that legacy tax information reporting solutions are built on antiquated technology that provides a poor client experience.”
Latest News
-
28m UK adults turn to AI to help manage money, finds Lloyds Bank
-
JPMorgan rolls out private fund tokenised solution on Kynexys
-
Experian to include rental payments as part of credit score
-
JPMorgan launches Personal Investing brand in UK
-
Barclays and Santander see largest current account losses after outages
-
WisdomTree chooses BNY for BaaS infrastructure
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories