Loc.tax, a London-based start-up founded by three Flemings and developing corporate tax management platform, has raised $12 million in a Series A funding round led by Index Ventures, with support from existing investor Cavalry Ventures, impact investors Mustard Seed Maze and Seedcamp, as well as a few business angels including the CFO of Revolut and CEO of Checkout.com.
The fresh growth capital will be used to expand in the UK and Europe and to forge new partnerships. Last year, Loc.tax already raised 3.6 million dollars.
“More than ever, businesses are under pressure to meet increasing tax reporting and regulatory requirements, and the expectations of stakeholders to demonstrate that they are doing the right thing,” said CEO Hans Kayaert. “Currently, there is no common tax concept for businesses and regulators to talk aboutand not an easy way for tax teams to make sure they meet all their obligations.”