Paperstack, a Toronto, Canada-based FinTech company, secured a funding round of undisclosed amount.
Backers included prominent Canadian angel investors, repeat entrepreneurs, executives and employees from Canada’s technology unicorns, as well as CPA accountants and corporate lawyers.
The company intends to use the funds to continue to expand operations and its development efforts to develop and take the product to the market.
Led by Vadim Lidich, CTO, and Assel Beglinova, CEO, Paperstack is advancing a technology-assisted bookkeeping and tax filing solution, meant specifically for Canadian freelancers. The product will allow self-employed professionals to track business expenses, find valuable tax deductions, remit GST/HST, and prepare annual tax returns – completely on autopilot.
The company anticipates releasing the product in Ontario later in 2021, followed by a gradual pan-Canadian rollout in 2022.
Earlier this month, Paperstack became one of 12 companies that got accepted to Google Accelerator for Startups – a 10-week digital accelerator program for Seed to Series A technology startups based in the U.S. and Canada.