International legal pratice Osborne Clarke has advised the Hamburg-based VAT start-up Taxdoo on a seed financing from (High-Tech Gründerfonds) HTGF.
Taxdoo has devised a system that automatically collects data from marketplaces, online shops and ERP systems and processes it in line with international VAT regulations. This information is then submitted to the respective financial authorities through an international network of VAT experts. The data can then be transferred seamlessly into financial accounting systems.
Taxdoo started out as an EXIST project at the University of Hamburg and was founded in April 2016 by three former research associates. The start-up commenced operations in early 2017 and its revenues are already in six-figure territory. Taxdoo will use the funding to expand its team and further develop its technological platform.
An Osborne Clarke team led by Corporate Counsel Rouven Siegemund has been advising Taxdoo since the foundation of the company and also on the recent financing round. The team also included Tim Maiorino (IT) and Dr Sebastian Hack (antitrust).