Cryptocurrency tax firm TaxBit has announced that it has raised $ 100 million in funds. The company aims to solve the cryptocurrency tax problems and the adoption of cryptocurrencies by more people.
TaxBit; It raised funds under the leadership of Paradigm and Tiger Global companies. The company attributes its ability to raise $ 100 million to the cryptocurrency market, which has climbed to $ 1.5 trillion, and the fact that people in many fields from retail investors to corporations have stepped into this sector.
TaxBit CEO Austin Woodward believes cryptocurrencies should not be subject to tax and accounting confusion. For this, it aims to provide convenience with TaxBit.
Paradigm co-founder Matt Huang made the following statement about the company:
“The rise seen in the cryptocurrency industry poses difficulties in taxation and accounting. Users, businesses and governments are affected by this situation. TaxBit solves this problem. ”
The company, which started operating in 2018, offers legal tax solutions for users, businesses and governments. Since its establishment, it has enabled its customers to create more than 1 million tax forms. With its TaxBit Enterprise and TaxBit Consumer services, it makes taxation of cryptocurrencies in accordance with both the law and the users.
TaxBit; He has received investments from PayPal Ventures, Winklevoss Capital, Galaxy Digital, Coinbase Ventures, Anthony Pompliano, Qualtrics co-founder Ryan Smith, former Venmo COO Michael Vaughan, and many more.
The company supports more than 2,500 cryptocurrencies and all crypto money exchanges. TaxBit, serving in the USA, wants to serve for different countries in the future.