Overfunding: UK’s TaxScouts, a Fintech that Will Make Sorting Taxes More Seamless, Raises £2,925,089 via Crowdcube

The team at UK’s TaxScouts confirms that their crowdfunding campaign has finally come to an end.

TaxScouts noted that they’ve raised £2,925,089 – “over 290% of our original target.”

The team also mentioned:

“We’re blown away by the support and so thrilled to welcome 1656 new investors to the TaxScouts community. We want to say the biggest thank you to everyone who invested, including our institutional investors Octopus Ventures, and to the team at Crowdcube for their support on the campaign. We look forward to using the money raised to help further solidify our foundations in the UK and Spain, and to bring simple, stress-busting more products to our users this year.

They pointed out that you should closely watch this space. They’re really excited for you to see what’s next.

As covered, TaxScouts, which claims to be on a mission to make sorting taxes “affordable and effortless,” had raised 165% (£1,652,047) of its £1,000,000 target from 597 investors (by January 17, 2022) via Crowdcube. At that time, there had been 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

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.”

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