#TURBOTAX 2016 ONLINE REVIEWS SERIES#
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that is a competitor of sorts (alongside statesвЂ™ own filing systems, a number of other accounting platforms and other startups like Taxscout), was started as far back as the 1980s, and itвЂ™s still growing at a rate of 5%-10%, Duggan pointed out. Turbotax, IntuitвЂ™s big product in the U.S. The solution was a simple one: Make an app вЂњto make something complicated delightful.вЂќ I donвЂ™t know if IвЂ™d ever use that word to describe the process of dealing with taxes, but very few of us are unfamiliar with how a few simple mobile tricks can actually make mundane things into fun activities.ДЄnd there is a big opportunity in the market to do that for something as deeply mundane, anxiety inducing and generally complicated as taxes. вЂњItвЂ™s complicated and people are afraid of the outcome,вЂќ she said. The challenge that Taxfix was built to address - and those who first built it, its original founders, Mathis BГјchi and Lino Teuteberg, are still with the company, respectively as chairman and CPO - was that, as TVG MD Avid Larizadeh Duggan described it, is that many people associate taxes with anxiety.

#TURBOTAX 2016 ONLINE REVIEWS FREE#

Taxfix as you might suspect prefers to talk about the good news stories around tax filing - itвЂ™s easy! and itвЂ™s often free money owed to you! - so Ott wasnвЂ™t keen to talk about how much money it calculated people owed to the state, but there is an opportunity there too to provide financing and longer-term managing of that financing as a different kind of product. Ott would not be too specific about what will come first and when beyond saying вЂњlater this year,вЂќ but ideas he mentioned in an interview included tools for expense management throughout the year, which is useful for those who are self-employed and might want to track receipts more carefully ahead of filing and options for people to take tax windfalls and invest them elsewhere. ThatвЂ™s indeed one reason for raising this funding, and raising so much of it: building more products to extend that lifecycle. Notably, however, Taxfix doesnвЂ™t disclose how many customers it has currently, although you can partly understand why: Metrics like monthly or daily active users (a classic metric for consumer-focused mobile apps, which this is) are hard to quantify for a product that realistically is only used en masse once a year - a concept that Ott, who joined last year from having been a VP and MD of Central Europe of none other than Facebook, will understand very well. The startup has had вЂњmillionsвЂќ of downloads of its app across its three current markets of Germany, Spain and Italy up to now, working out to over $1 billion in taxes refunded for those who fill out their forms using its mobile assistant. вЂњWeвЂ™ve hacked the brain of a tax accountant into codes,вЂќ CEO Martin Ott notes. Taxfix isnвЂ™t a business process automation startup per se, but it takes something of the stance as one, in building its products for the consumer market: To then file your taxes through that as an individual costs в‚¬39.99 or в‚¬59.99 as a couple.

Using the app to check out your tax situation is free, and to do so you simply take a snapshot of a payslip and fill out another few details and Taxfix does the rest of the work for you. The companyвЂ™s concept is very simple, played out mostly simply for people who do not have complicated tax profiles with different assets or other money sources in the balance. This is a major round for the startup: Taxfix has raised around $330 million since being founded in 2016.

#TURBOTAX 2016 ONLINE REVIEWS SERIES#

(Index led its Series C in 2020 Valar led a round in 2018). The funding is being led by TeachersвЂ™ Venture Growth, the rebranded venture fund the Ontario TeachersвЂ™ Pension Plan Board (a prolific investor for years in tech), with previous backers Index Ventures, Valar Ventures, Creandum and Redalpine also participating.

It has closed a Series D of $220 million at a valuation of over $1 billion, money that the startup will be using both to build in more products to extend its touch points with customers beyond annual use around tax time and to expand to new markets beyond its current footprint of Germany, Spain and Italy. Tech is rushing in to fill that gap, and today a Berlin-based startup called Taxfix, which has built a popular mobile assistant to address the former of these, is announcing a big round of funding to fuel its growth. But that doesnвЂ™t make dealing with either particularly natural and easy. Ben Franklin once famously said that in this world nothing can be said to be certain, except death and taxes.

Turbotax 2016 online reviews