Loc.tax, a collaborative tax management platform for multinational companies, today announced a $3.6 million seed round led by Cavalry Ventures, with additional backing from Seedcamp, Mustard Seed Maze, and Amaranthine, as well as European angel investors.
Founded by a team from Belgium and Lithuania, and headquartered in London, the startup is building a ‘tax operating system’ that enables in-house teams to stay on top of international tax, risk, and compliance workloads. The platform includes up-to-date company data, international tax rules, visual analysis and team collaboration tools.
By keeping it in house and keeping it transparent, Loc.tax aims to help internal teams and executives make better tax decisions together.
“Most fast-scaling companies turn to the Big Four accounting firms to outsource the handling of accelerating international tax complexity, denying themselves the opportunity to empower their internal functions and capture strategic tax data value,” says Hans Kayaert, co-founder and CEO.
This fresh funding will go to expanding the development team. The four founders are based in Leuven and Amsterdam, but the remote-first startup welcomes new members from all over.
Photo by Yves Schepers: co-founders Hans Kayaert, Kasparas Aleknavicius, Bart Van Remortele and Stevi Frooninckx