At Seedcamp our thesis is around investing in companies using technology to solve real problems. No more is that more true than with our latest investment, TaxScouts, out to save millions from the last minute panic and dread of filling out their tax return with a much-needed ‘tax-preparation’ solution.
We’re delighted to invest in the £1.2m seed round alongside Speedinvest and Finch Capital as TaxScouts build out their platform powered by automation and a network of accountants, enabling an efficient turn-around time of just 1-2 days for all your tax filings.
On the investment, our Partner, Tom Wilson, comments: “When you look at last year’s tax returns stats you see that a solution to the old issue of stressing out over your taxes and leaving everything to the last minute was long overdue. We cannot wait to see what this funding will enable them to achieve as a company and all the benefits that will come along to taxpayers and accountants.”
The TaxScouts platform is proving popular with individuals and accountants alike, with the client management system for accountants helping accounting partners to save 3-5 days of work per month.
With the new funding raised, TaxScouts is looking to quadruple its network of accountant partners by the end of 2019 and, longer-term, to reduce the workload of accountants by 80% through further process automation and digital data processing.