Managing taxes is notorious work. And if you are part of a tax team in a hyper growth startup that’s mid-international expansion, coordinating taxes across multiple geographies is no small feat. In the past, tax professionals have had only one viable option to manage taxes: hire a large, expensive firm to help you. This approach is cost-ineffective and merely serves as a stop-gap solution. In steps Loc.tax, a startup that empowers tax professionals to achieve sound tax governance with a “Tax Operating System” consisting of always up-to-date company data, regulatory data, visual analysis tools, and extensive team collaboration. Loc.tax has created a product that serves as the single source of truth for streamlining global tax operations and projects.
We’re excited to join loc.tax on their company journey in a $3.6m round led by our friends at Cavalry with participation from Mustard Seed Maze and Amaranthine. The team has the relevant market experience and founder-dynamic to tackle tax management head-on. Prior to building loc.tax, Hans Kayaert (CEO) and Stevi Frooninckx (COO) worked together at Avnet on various projects and M&A deals. Kasparas Aleknavičius (CPO) and Bart Van Remortele (CTO) previously founded a company in the SportTech space together. From our first call on, the team’s years of experience working together on various projects was apparent. Some of the world’s most exciting companies are already using the platform via it’s subscription model and it’s truly disrupting how these teams handle their global tax operations and projects.
“Most fast scaling companies turn to the ‘Big Four’ accounting firms to outsource the handling of accelerating international tax complexity, denying themselves the opportunity to empower their internal functions and capture strategic tax data value.” comments CEO Hans. “Loc.tax provides a collaborative platform that makes tax teams in hyper-growth mode stay on top of the ever-changing international tax, risk, and compliance workloads, while enabling transparency with internal and external stakeholders, including auditors and tax authorities. We are delighted to have the support of well-respected investors on our mission.“
We’re thrilled to support loc.tax as they expand their development team and accelerate the growth of their subscription tax management platform.
“Almost all the key functions of multinational organisations have greatly benefited from the increased efficiency and transparency brought by the adoption of modern, collaborative software but the tax function is one that has been overlooked until now,” notes Partner Sia Houchangnia. “Loc.tax is about to change this and we are very excited to back Hans, Kasparas, Bart and Stevi!”
Want to join the loc.tax on their journey in building the TaxOS for the fastest growing companies in the world? Check out the hiring opportunities here!
