TaxZap Secures $2.6 Million to Revolutionize Tax Filing with AI and Open Banking

TaxZap is excited to announce that we have successfully raised $2,600,000 in our latest funding round, marking a significant milestone in our journey to democratize the tax filing experience. Our innovative platform, which directly connects to users' bank accounts via open banking, employs cutting-edge AI to analyze transactional data and pinpoint eligible tax reliefs. This empowers our users to complete a full tax return in minutes, eliminating the cumbersome process traditionally associated with tax preparation. With our gamified interface, we not only make tax filing engaging by incentivizing users through interactive challenges and questions but also help them secure maximum tax refunds. Since our launch, TaxZap has rapidly expanded its footprint, boasting over 120,000 clients served across two countries, launching our self-assessment product in the UK, and remaining profitable throughout our growth phases. Our dedicated team of 18 professionals, combined with our vibrant social media presence—including one of the largest tax-related TikTok communities with over 40,000 followers worldwide—has been instrumental in our success so far. This latest funding injection will accelerate our mission to eliminate the need for human intervention in tax preparation by further advancing our AI-driven tax assistant. We’re set to enhance our platform capabilities, broaden our market reach, and integrate new features that continue to simplify the tax filing process. At TaxZap, we truly believe that managing personal taxes should be accessible, affordable, and efficient, and this funding is a step towards transforming the conventional tax landscape for everyone.