The capital increase is intended to help further develop the specially developed tax reporting software Cryptotax, and to make it available in additional countries. The Cryptotax software allows crypto traders and investors to automatically calculate taxable profits from trading crypto assets such as Bitcoin and Ethereum. Cryptotax also takes into account income from staking, DeFi, lending, mining and margin trading.
The data is read from crypto exchanges or users’ wallets in real time, then standardised and ultimately, a country-specific report is created, which shows the taxable profits along with other relevant data. A total of five new and one existing investor took part in the current Series A investment round. Lead investor MiddleGame Ventures (MGV) invests primarily in fintechs in the capital market, asset management and open finance sectors through its fintech fund.
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