Dutch startup TaxModel secures around €1M funding from Newion Investments

Dutch startup TaxModel secures around €1M funding from Newion Investments

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TaxModel, an ‘s-Hertogenbosch-based international tax software provider, today announced that it has secured around €1 million in series A funding from Newion Investments on December 24th.

For the uninitiated, TaxModel is focused on automating international direct tax workflows with regard to transfer pricing, tax provisioning, forecasting and supporting tools.

Founded by Hank Moonen in 2005, the company mission is to make tax technology a commodity for tax professionals globally. With its solutions, TaxModel innovates the services tax professionals provide to their clients in terms of tax compliance, facilitates improved cost-benefit ratios of tax advice, and the data analytics capabilities allow a better insight in tax data.

At the same time, TaxModel’s solutions meet the demands from society when it comes to transparency on tax and behaviour change.

On the other hand, Newion Investments focuses on European business-to-business software companies with a global ambition and well known for its investments in the SaaS sector, among which Collibra, Mirror42 (acquired by ServiceNow) and Instant Magazine.

Hank Moonen, CEO TaxModel, said:

We have strategic partnerships and client relationships with a number of top-notch global tax service providers such as Baker McKenzie, Deloitte, Dentons, Grant Thornton, PwC, and Taxand, and we hold licenses with various large, medium and small cap Dutch-based and foreign multinationals. These clients validated our vision and enable TaxModel to grow from a thought leader to a product leader. The new funding will be used to further develop our platform and to expand marketing & sales.

Frank Claassen, Managing Partner Newion Investments, said:

We are impressed by TaxModel’s vision and solutions. Hank Moonen and his team are unique in the combination of in-depth IT and tax knowledge. Customer reviews and market studies underline their growth potential.

Photo: Shutterstock/By PhuShutter

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