Accountable Raises €10M in Total in Extended Series A
Mobile tax and financial services startup Accountable has secured a total of €10 million ($10.5 million) in an expanded Series A funding round, bringing its total raised since launch to 16 million euros, EU-Startups reported on Thursday 5 May.
Launched in 2017 by co-founder and CEO Nicolas Quarreco-founder and managing director Germany Tino Keller and co-founder Alexis Eggermont, Accountable is headquartered in Brussels, Belgium and Berlin, Germany. The startup strives to make it easier to manage financial services and tax responsibilities for freelancers and freelancers.
Series A participants included venture capital firm 10x Founders, Billie founders Matthias Knecht and Christian Grobe, and former Deliveroo and Transferwise marketing director George Pallis. Accountable also raised €6 million last year, led by equity funds Stride.VC and Connect Ventures.
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“This support from successful founders in the German fintech scene proves that we are on the right track to make Accountable the best tax solution for freelancers in Europe,” Keller said, according to the report.
The new capital will be used by the startup for European expansion and the launch of new financial products and services. Together with French unicorn Qonto, the company launched the Freelance Tools rebate solution and a Tax Masterclass.
Accountable analyzes bank transactions to provide users with real-time tax information and recommendations. The platform is used by more than 20,000 freelancers and freelancers in Europe for accounting and taxes.
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The company plans to integrate business tax filing into the app before the end of this year, as well as automated income tax filing and VAT filing. When these tools are integrated, Accountable will be the first tax app covering all self-employed professionals in Germany, according to the article.
Accountable also digitizes the entire accounting process and uses machine learning to offer people tax-saving tips. The app also offers invoice generation and receipt scanning.