Seed Fonds III Aachen invests in taxtech startup Taxy.io

Aachen/Mönchengladbach, May 14, 2019 — The 
Seed Fund III Aachen and Mönchengladbach
is taking a stake in the Aachen-based startup Taxy.io GmbH as part of a seven-figure finan­cing round. The young company deve­lops arti­fi­ci­ally intel­li­gent soft­ware solu­ti­ons for digi­ta­liza­tion in tax consul­ting and audi­ting. In addi­tion to the Seed Fonds III, NRW.Bank and seve­ral busi­ness angels are also inves­t­ing in the seed finan­cing. In addi­tion to their mone­tary contri­bu­tion, they are also contri­bu­ting profound indus­try exper­tise, sales networks and entre­pre­neu­rial expe­ri­ence. Thanks to an EXIST start-up grant from the Euro­pean Union and the German Fede­ral Minis­try for Econo­mic Affairs and Energy, as well as its own initial sales, the young company was able to further deve­lop its products and achieve its first sales succes­ses. The seed funding will be used for staff deve­lo­p­ment, further deve­lo­p­ment of the soft­ware and further market launch.

More time for the essentials
Taxy.io GmbH deve­lops and distri­bu­tes B2B soft­ware solu­ti­ons for tax consul­tants, audi­tors and employees in finance depart­ments. “Tax firms still have to invest a lot of time and money in legal lite­ra­ture and rese­arch work,” says Daniel Kirch, CFO and one of the company’s four foun­ders. “Our auto­ma­tion solu­ti­ons help find the desi­red answers to tax-rela­­ted ques­ti­ons and proac­tively inform the tax advi­sor about new consul­ting occa­si­ons. This gives advi­sors and experts more capa­city to devote to actual custo­mer needs.”

The tech­no­lo­gi­cal focus of the Taxy.io soft­ware is on the auto­ma­tion of consul­ting and rese­arch proces­ses using arti­fi­cial intel­li­gence (AI). The soft­ware suite can be purcha­sed as a license model or inte­gra­ted into exis­ting soft­ware as an exter­nal solu­tion, for exam­ple via a programming inter­face (API).

Proac­tive infor­ma­tion compa­ri­son with current chan­ges in legislation
The Tax Feed module, which auto­ma­ti­cally iden­ti­fies consul­ting events, is the flag­ship of the Taxy.io product world: Using a simul­ta­neous analy­sis, the program compa­res the current tax law lite­ra­ture with the consultant’s clients and calcu­la­tes which infor­ma­tion is rele­vant for which client. The consul­ting events iden­ti­fied in this way are made available auto­ma­ti­cally and the consul­tant can evaluate them for his respec­tive client without any further rese­arch effort.

“Digi­ta­liza­tion is an abso­lute trend topic and is high on the agenda of every company — inclu­ding tax consul­tants and audi­tors,” says Markus Krücke­meier, mana­ging direc­tor of the manage­ment company of the Seed Fonds Aachen and Mönchen­glad­bach. “Taxy.io is signi­fi­cantly driving the digi­tal trans­for­ma­tion in the indus­try by making basic proces­ses signi­fi­cantly more effi­ci­ent. The model also offers tremen­dous oppor­tu­nity for wide­spread use in the market­place via inter­na­tio­na­liza­tion, expan­sion to other areas of law, and a programming inter­face to other soft­ware systems.”

The four foun­ders (photo) Daniel Kirch, Sven Peper, Stef­fen Kirch­hoff and Sven Weber, who alre­ady know each other from their studies at RWTH Aachen Univer­sity, are very well networked in the startup and inves­tor scene and have alre­ady recei­ved seve­ral awards with Taxy.io. Well-foun­­ded exper­tise in the fields of tech­no­logy and finance combi­ned with many years of profes­sio­nal expe­ri­ence charac­te­rize the manage­ment of the young company.