Taxdoo, a Hamburg-based that builds API-based tools to help e-commerce companies with tax compliance and other accounting needs, announced that it raised $64 million in Series B.
The round was led by Tiger Global part of the VC’s very aggressive foray into backing European startups, with previous backers Accel, Visionaries Club, and 20VC also participating.
The company intends to use the series b funding to expand further across Europe and to build what it describes as the financial operating system for e-commerce businesses.
Company: Taxdoo GmbH
Raised: $64.0M
Round: Series B
Funding Month: December 2021
Lead Investors: Tiger Global
Additional Investors: Accel, Visionaries Club, and 20VC
Company Website: https://www.taxdoo.com/
Software Category: API-based tools
About the Company: Taxdoo, was co-founded by three economics PhDs, Matthias Allmendinger, Roger Gothmann, and Christian Königsheim. Taxdoo is a Software as a Service (SaaS) for automated Value Added Tax compliance, Taxdoo automates sales tax and financial accounting for online retailers of all sizes. Interfaces to marketplaces, ERP, and shop systems make the processing of EU-wide sales tax easy and efficient. Taxdoo currently works with over 1,700 marketplaces, online merchants, and enterprises, integrating with the platforms that they use in turn to sell online.
Source: https://techcrunch.com/2021/12/16/taxdoo-raises-64m-to-expand-from-tax-compliance-to-a-wider-set-of-financial-tools-for-e-commerce-companies/