TaxBit, a Salt Lake City, UT-based provider of cryptocurrency tax automation software targeted for crypto users, exchanges, and merchants, raised a new funding round of undisclosed amount.
Backers included PayPal Ventures, Coinbase Ventures, and existing investor Winklevoss Capital.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Austin Woodward, CEO and Founder, TaxBit provides TaxBit Enterprise and TaxBit Consumer, which are solutions that automate all aspects of cryptocurrency tax compliance for consumers, businesses, and exchanges. They are used by thousands of everyday crypto users, in addition to crypto exchanges and merchants with regards to their 1099 and enterprise reporting requirements.