TaxZap Raises $2M Seed Round to Disrupt Tax Filing with AI & Open Banking

TaxZap, the innovative fintech company transforming the tax filing landscape, is proud to announce the successful raise of $2,000,000 in its latest funding round. By directly connecting to users’ bank accounts through open banking and leveraging the power of AI, TaxZap offers a seamless solution that quickly analyzes transactional data to identify eligible tax reliefs. This breakthrough enables users to complete their tax returns in just minutes, eliminating the need for traditional, costly accountants. The new funds will be strategically invested to further enhance the AI capabilities behind the platform, expand technological infrastructure, and support the continued development of the engaging, gamified interface that has not only simplified tax filing but also increased user engagement and satisfaction. Since its inception, TaxZap has experienced impressive growth, serving over 120,000 clients across two countries while proudly maintaining profitability. The launch of its self-assessment product in the UK has positioned TaxZap as a leader in the digital tax space, and the recent expansion of the core team to 18 dedicated professionals underscores the company’s commitment to innovation and excellence. Furthermore, TaxZap has fostered one of the largest tax-related TikTok communities globally, boasting over 40,000 followers, where users gain valuable insights and tips on maximizing tax refunds. With its mission to democratize the tax system by removing the need for human intervention in tax filing, TaxZap is set to revolutionize how individuals interact with taxation services. This significant investment marks a new chapter in the company’s journey to make tax relief accessible, affordable, and easy for everyone.