Crypto Funding: TaxBit Pulls $130 Million in Series B to Fund Expansion

Published by
Crypto Funding: TaxBit Pulls $130 Million in Series B to Fund Expansion

American Tax and Accounting software provider dedicated to the digital currency ecosystem, TaxBit has completed its Series B funding round, raising a total of $130 million from Investors. According to the announcement from the firm, the round was led by IVP and Insight Partners with additional participation including Tiger Global, Paradigm, 9Yards Capital, Sapphire Ventures, Madrona Venture Group, and Anthony Pompliano.

The business niche being developed by startups today have a massive impact on how much attention the project will command from investors. TaxBit develops software and digital infrastructure that helps both cryptocurrency users, as well as tax authorities to estimate the right amount of crypto-related tax to pay. 

The Series B round came months after the firm revealed its Series A wherein it received a total of $100 million. For its consistent successes in attracting investors, TaxBit’s valuation has soared to $1.3 billion, placing the firm amongst the few crypto unicorns around today.

“We are living in a time where everything is going digital, including traditional assets,” said Austin Woodward, TaxBit CEO. “As we’ve built and deployed modern tax and accounting software tailored to digital assets, it’s become clear that legacy tax information reporting solutions are built on antiquated technology that provides a poor client experience. TaxBit is changing the game by providing clients and their users modern, real-time technology that affords visibility and tax optimization opportunities throughout the year.”

Advertisement

TaxBit Looking Forward to Expand into Global Crypto Hotspots

The demand for crypto taxation is high in demand amongst governments around the world. While TaxBit has secured the United States Internal Revenue Service (IRS) as a client, it is looking to expand into other global markets including the United Kingdom.

As a result, the firm said it will “use the funds to scale its multi-channel ecosystem of tax and accounting offerings across enterprise, consumer, and government sectors..”

Per the announcement, there is also an ongoing to increase its workforce by a factor of two before the end of the year. To push forth its expansionary drives, TaxBit will also use the funds to open new offices in the USA and UK to fuel international expansion.

Advertisement

Share
Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Citigroup Predicts Bitcoin Could Climb to $231,000 in 12 Months

Banking giant Citigroup has revised its Bitcoin prediction to $231,000 in the next 12 months,…

October 2, 2025
  • 24/7 Cryptocurrency News

Ethereum and BMNR Rallies as BitMine Drops $1B on ETH, Analyst Hails “Most Bullish Setup Yet”

The Ethereum price and BMNR stock have recorded modest gains thanks to BitMine’s recent $1…

October 2, 2025
  • 24/7 Cryptocurrency News

ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?

In a fresh development, multiple ASTER tokens have been sent to Binance spot wallets, following…

October 2, 2025
  • 24/7 Cryptocurrency News

Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle

Avalanche Treasury Co., in partnership with Mountain Lake Acquisition Corp., has unveiled a $675 million…

October 2, 2025
  • 24/7 Cryptocurrency News

Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings

Nasdaq-listed VivoPower has stepped up its digital treasury goals with a fresh capital raise aimed…

October 2, 2025
  • 24/7 Cryptocurrency News

Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy

Solana increased in price by 5% to approximately $219 following a $2 billion Solana treasury…

October 2, 2025