Loctax, a London, UK-based first-ever collaborative tax governance platform for global in-house tax teams, has raised $12 million in Series A funding.
The round was led by Index Ventures, with participation from existing backers such as Cavalry Ventures, impact investors Mustard Seed Maze and Seedcamp, and angel investors such as Revolut's CFO and Checkout.com's CEO.
The new funds will be used to expand in the United Kingdom and Europe, and it will also expand its collaborations with the tax and professional advisory sectors.
“Companies are under more pressure than ever to meet the growing tax reporting and regulatory requirements as well as the expectations of stakeholders to show they are doing the right thing. Currently, there’s no shared concept in how companies and regulators talk about tax, and no straightforward way for tax teams to be confident that they're meeting all their obligations.” Hans Kayaert, Co-founder and CEO of Loctax, said.
Company: Loctax NV
Round: Series A
Funding Month: September 2022
Lead Investors: Index Ventures
Additional Investors: Cavalry Ventures, Mustard Seed Maze, and Seedcamp
Company Website: https://www.loctax.com/
Software Category: Collaborative Tax Governance platform
About the Company: Founded in 2020 by a team from Belgium and Lithuania, and headquartered in London, Loctax is the first-ever collaborative tax governance platform for global in-house tax teams that helps to achieve full control of compliance, projects, audits, transfer pricing, and all other tax responsibilities. Loctax aims to give companies the technical ability to evaluate and respond to a fast-changing global tax landscape. The platform combines up-to-date company data, international tax rules, visual intelligence, and collaboration tools to help companies achieve total control of their tax governance.