Loading...

QVentures invests in Taxd, a consumer FinTech simplifying tax returns

Investors in this round: Q Ventures

Venture Capital firm, QVentures announces their latest Pre-Seed Fund investment into Taxd, a consumer fintech platform simplifying tax returns for individuals and businesses.

Taxd is making tax returns self-serve, simplified, personalised, and accessible for all. As recognised by HMRC, Taxd helps clients seamlessly fill out and submit their self-assessment forms and online tax returns with maximum efficiency. 

Tax returns can be confusing, time-consuming and can cost money if done incorrectly, and each year, 13 million people fill out an HMRC self-assessment form in the UK. For millions of sole traders and landlords these tax returns are about to turn quarterly, therefore, as is the hassle that goes with it. Increasing legislation means tax planning and advice are becoming evermore complex and expensive. 

Taxd provides customers with a fast and cost-effective method to manage personal, freelance and business tax returns. They are on a mission to make the tax process intuitive and informative for their users and are focusing on building out functionality to make tax compliance completely autonomous – taking out the costly and stressful pain point that many people experience.

Building on their tax technical expertise, Taxd caters to complex tax situations including residence and foreign income, historically areas where individuals could not file online or had to resort to expensive alternatives.

The QVentures Pre-Seed Fund focuses on backing thought leaders and innovators. The team was particularly impressed by the Taxd founders, Arjun Kumar, Eamon Shahir, James Green, and their previous accounting and technical expertise. 

Co-Founder of Taxd, Arjun Kumar says: “Our goal is to make tax easy for people and businesses through the use of technology & automation. The investment by QVentures into Taxd means we are able to go to market in a more meaningful way and at an increased pace to help impact the millions of people across the UK who struggle with understanding tax compliance.”  

Co-Founder, Eamon Shahir adds: “Taxd will soon be able to cover 100% of UK tax cases, providing exceptional results for a fraction of average high street accounting fees. QVentures understands our vision and knows how to harness and grow entrepreneurial vigor. We truly value this partnership as we work to become a technology driven one-stop shop for UK tax compliance.”

Arjun, who spent 6 years in tax technology at PwC, has a proven track record developing products and his first company, Igneo, was acquired in January 2022. Eamon, a software engineer and former senior associate at PwC, is a part-qualified ACA chartered accountant with a range of tax consultancy experience from residence rules to capital gains tax. James is a software engineer with 8 years of experience with web and app development and is a four-time entrepreneur. 

Managing Partner at QVentures, Robert Walsh says: “Taxd are making the tax returns process intuitive, informative, and cost-effective for customers. With fantastic products already live and a great pipeline of additional functionality to come, we’re proud to be supporting the Taxd team in their vision and look forward to working further together.” 

Taxd is recognised by HMRC and supervised by the Chartered Institute of Taxation. 

For more information on Taxd, please visit: https://www.taxd.co.uk/ 

 


About QVentures

Watch a two minute introduction to QVentures here.

QVentures is a Venture Capital firm providing direct investment opportunities and fund management. QVentures sources, screens, and invests in top-tier start-ups from Seed to Series C for their investor base consisting of Family Offices, Institutional Investors, UHNWIs, and Cashed-out Entrepreneurs. QVentures has participated in rounds with an aggregate combined size of over £351m in 115 companies. 

If you are looking to invest in early-stage companies, please Self Certify as an Investor at www.qventures.co/register 

If you are seeking funding, please apply on www.qventures.co/fundraising  

DISCLAIMER 

Investing in early-stage businesses involves risks, including illiquidity (the inability to sell assets quickly or without substantial loss in value), lack of dividends, loss of investment and dilution, and it should be done only as part of a diversified portfolio. 

QVentures is a trading name of Quintessentially Ventures Limited, which is an Appointed Representative of Brooklands Fund Management Limited which is authorised and regulated by the Financial Conduct Authority (FRN 757575).