By Steve O’Hear
Taxdoo, a startup that has built what it calls an “automated platform for financial compliance” aimed at cross-border e-commerce companies, has raised $21 million in new funding.
Leading the Series A round is venture capital firm Accel, with participation from Visionaries Club, 20VC and existing investor HTGF. The funding will be invested in Taxdoo’s growth — including international expansion– increased hiring, R&D, sales, and customer support. Accel’s Harry Nelis has joined the Taxdoo board.
The inclusion of Harry Stebbings’ 20VC is noteworthy, as the podcaster-turned-VC originally said his micro fund was targeting U.S. startups across various stages, and therefore there wasn’t any perceived conflict with his role as a partner at European VC Stride. Taxdoo is based out of Hamburg, Germany. “20VC essentially invests largely in the U.S. but can also invest where Stride does not, anywhere in Europe outside of the U.K. and Paris,” clarified Stebbings in a WhatsApp message.
Founded in May 2016, after its three founders — Christian Koenigsheim, Matthias Allmendinger, and Roger Gothmann — finished their PhDs in finance at the University of Hamburg, Taxdoo wants to use automation to meet the tax and compliance burden faced by cross-border e-commerce companies …read more
Source: Tech Crunch