Taxdoo, a Hamburg, Germany-based automated platform for financial compliance in e-commerce, closed a $21m (€17m) Series A round of financing.
The round was led by Accel, with participation from Visionaries Club, 20VC and existing investor HTGF. In conjunction with the funding, Accel’s Harry Nelis had joined its board.
The company intends to use the funds for international expansion, increased hiring, R&D, sales and customer support.
Co-founded by Matthias Allmendinger, Roger Gothmann and Christian Königsheim, Taxdoo provides a platform that automates transaction-level data ingestion, tax calculation and filings across Europe, as well as the integration of financial and accounting information. Customers can also collaborate with their tax advisors through the platform and reduce other compliance burdens, including Intrastat filings.
The company now serves more than 1,000 merchants from the DACH region.