TaxScouts, which claims to be on a mission to make sorting taxes “affordable and effortless,” has raised 165% (£1,652,047) of its £1,000,000 target from 597 investors (at the time of writing) via Crowdcube with 24 days left in the firm’s crowdfunding campaign.
TaxScouts reveals that it began operations back in 2018. Based in the UK, the firm offers tax services and “ranks #1 (4.9/5) on Trustpilot.” The company’s annualized user growth has surged to 237% since inception. The company has expanded operations globally in 2021 with a VC-led (Octopus) £5m.
TaxScouts reports a £35,000,000 pre-money valuation, 4.51% Equity, EIS, and a £13.97 share price. TaxScouts explains that it’s focused on making the process of sorting taxes a lot more efficient.
Here are the key business highlights shared by the firm:
- Backed by top VCs – Octopus Ventures, SpeedInvest and Seedcamp
- Annualized User Growth of 237%
- 1m+ organic visitors to website, 80+ NPS rating
Every year, an estimated 200 million Europeans “go through the pain of personal tax preparation,” the team at TaxScouts noted while adding that if an online bank account can be opened in less than 3 minutes, “why can’t Self Assessment be as seamless?”
The firm also noted:
“We launched TaxScouts in the UK in 2018 – sorting anyone’s Self Assessment for £119, all in. The platform automates sales, data collection and admin for accountants, passing the cost savings on to our customers – and our flat pricing model undercuts the traditional accountancy market price up to 5x. 3 years on, TaxScouts is taking on the European tax preparation and advisory market, offering a simple, online alternative: pain-free tax returns and professional tax consultations, both for a low, flat fee.”
The company added that their service “is loved by customers with an 80+ NPS rating and 4.9/5 Trustpilot ranking.”
The firm also shared some important achievements/milestones:
- 2018 – UK operational launch, Angel round
- 2019 – Seed round, backed by SpeedInvest, Seedcamp
- 2020 – Series A backed by Octopus Ventures, launched in Spain
- 2021 – On Startup.com’s Startups 100 List; launched UK tax advice service
The firm also mentioned:
“We’ve already filed thousands of tax returns with UK users growing on average 3x YoY. Internationally, we’ve seen bigger success: 2x faster user growth than the UK during the first 12 months of operation. This is an opportunity to invest alongside Octopus Ventures, SpeedInvest and Seedcamp to build on success in Spain and prepare for further European expansion next year.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!