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Crypto tax startup TaxBit reportedly in talks for unicorn-level funding

July 21, 2021. Summarized by summa-bot.

Compression ratio: 34.2%. 1 min read.

People with knowledge of the matter said Utah-based crypto tax startup TaxBit is in talks to raise capital, but the terms have yet to be finalized.

The United States-based cryptocurrency tax software developer TaxBit is reportedly looking for new funding at a valuation of $1 billion or more, which would make it a unicorn startup.

TaxBit is a Salt Lake City, Utah-based startup founded in 2018 specializing in crypto-related tax processes for consumers and businesses.

Related: US crypto firms invest in tax solutions as IRS updates reporting forms

According to the same report, TaxBit said that the Internal Revenue Service selected TaxBit to provide crypto-related data analysis and tax calculation support for taxpayers following Series A funding.

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