Bitcoin software Tax company TaxBit valued at $ 1.3 bn after $ 130m boost

TaxBit, a cryptocurrency tax software and accounting firm, today announced it has raised $ 1.33 million in New Series B funding, with a valuation of $ 130 billion. This makes Taxbit the latest crypto venture to have “unicorn” status, or value of $ 1 billion or more.

Undisclosed taxbit an estimated increase of $ 100 million in a series A round came only five months later, and this crypto currency due to the tightening of taxation rules in the United States and abroad shows that it is a quick way to start up.

“We are in a rapid growth phase. We’ve tripled the headcount and will do it again by the end of the year, Austin Woodward, co-founder and CEO of taxbit, told decrypt. “Stocks, commodities and new forms of digital assets (NFT, etc.) we have launched support for various asset types, including. We also have plans for international expansion, with the UK and other jurisdictions soon on the horizon.”

Since March, the Utah-based company has also become an IRS software partner and opened a second headquarters in Seattle. TaxBit also added October financial institutions as partners, including the ftx us crypto exchange, which uses the company’s tax Center package.

IVP and Insight Partners held a series B tour with Tiger Global, Paradigm, Sapphire Ventures, 9Yards Capital, Madrona Venture Group and Anthony Pompliano. IVP general partner Tom Loverro will join the taxbit board as part of the fundraising, while Insight managing partner Nihil Sachdev will serve as an observer on the board.

This a-series tour, led by Paradigm and Tiger Global, is in the investor pool with coinbase Ventures, PayPal Ventures, Winklevoss Ventures, Galaxy Digital.

The taxbit rate hike announcement came shortly after the United States Senate passed a $ 1.2 trillion infrastructure bill that included a controversial provision in tax reporting requirements that expanded the cryptogeld industry.

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