TaxBit, a NYC-based provider of tax and accounting compliance solutions, received a strategic investment from In-Q-Tel (IQT), the not-for-profit strategic investor for the U.S. national security community and America’s allies.
The amount of the deal was not disclosed.
The company intends to use the funds to accelerate the development and deployment of its commercial and government accounting solutions and digital asset technologies, including uses for tax filing, audit, asset seizure, and financial reporting. This also includes new critical features like GAAP and FASB reporting in the United States and IFRS support for international customers.
Led by CEO Lindsey Argalas, TaxBit is a digital economy’s tax and accounting compliance solution provider. Its platform, used by enterprises, financial institutions, and government bodies, streamlines compliance while ensuring accuracy.
TaxBit is SOC 1 Type 1, SOC 2 Type 2 attestation and ISO 27001 certified. The company, which has secured over $235M from global investors, including Ribbit, IVP, Paradigm, and PayPal Ventures, has offices in San Francisco, Seattle, Salt Lake City, New York, and Washington, D.C.
Commenting on the news, Argalas said: “This investment from IQT further underscores the incredible technology and expertise our team has built for the digital asset industry. Everything we do aims to secure regulatory trust while enabling compliant digital asset innovation for the global economy.”
FinSMEs
29/04/2024