Berlin-based startup AnyTax has successfully raised €1M in funding to expand its embedded tax infrastructure designed for financial platforms. As financial services continuously evolve towards digital solutions, AnyTax aims to address the often neglected area of taxes within the finance industry. Leveraging its newly acquired capital, the company plans to grow its product offerings and strengthen collaborations with key financial entities.
Historically, tax services have lagged in digital transformation compared to banking and investment sectors. Despite various advancements in fintech, taxes have remained complicated, relying heavily on outdated systems and fragmented processes. Previous attempts at digitizing this area have been limited, with many platforms lacking both expertise and resources to integrate tax solutions effectively. AnyTax promises to bridge this gap using its innovative approach.
How Will AnyTax Innovate Financial Platforms?
AnyTax is providing pre-configured, API-based solutions that can be seamlessly integrated into existing financial services. The company uses modular and AI-driven technologies to enable financial platforms to incorporate tax services into their offerings. Furthermore, white-label tools allow financial advisors to provide branded tax services, enhancing their own service portfolios.
Moritz Kuder, co-founder of AnyTax, remarked on the outdated state of current tax processes. He stated,
“Banking, payments and investing have all become real-time; with taxes being so closely connected to these aspects of our financial lives, it feels ancient how manual and intransparent everything around taxes still is today.”
His perspective highlights the urgent necessity for integrated tax solutions within the rapidly progressing landscape of digital finance.
Investor Confidence in AnyTax’s Vision?
The recent funding round involved notable investors like IBB Ventures, BLACKVRST Equity, and Heartfelt. The backing from industry veterans signifies confidence in AnyTax’s innovative approach to tax solutions. Investor Cindy Beckel expressed her faith in the team’s ability to navigate this complex domain, emphasizing their strong expertise and commitment to evolving compliance and security standards.
Yash Gadiya, another co-founder of AnyTax, envisions their solution as a tool for financial platforms to enhance their offerings, stating,
“Our mission is simple: anyone offering financial services should be able to extend their product offering with seamless, digital tax solutions.”
This reflects the company’s focus on simplifying tax processes and making them accessible to a broader audience.
The infusion of capital will allow AnyTax to not only expand its tax product portfolio but also to deepen its integrations within the financial sector. By simplifying the adoption of tax capabilities, the company aims to revolutionize how financial platforms manage and extend tax-related services to their users.
As tax processes continue to catch up with the rapid advancements in the financial world, AnyTax stands poised to address the challenges at hand. The company’s strategy focuses on providing practical digital tax solutions that cater to the evolving needs of modern financial platforms. This development could potentially pave the way for a more unified, transparent tax system embedded within financial services, promising ease and efficiency for both platforms and their users.
