PayPal-Backed Cryptocurrency Tax Startup Raises $100M Miroshnichenko
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TaxBit, a cryptocurrency tax startup, has announced it had raised $100 million in a Series A funding round led by Paradigm and Tiger Global. The startup also attracted funding from PayPal Ventures, Coinbase Ventures, Winklevoss Capital, Galaxy Digital, Anthony Pompliano and others.

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TaxBit CEO, Austin Woodward, says the company will continue to scale world-class tax and accounting products so that the cryptocurrency market "can continue to thrive among enterprises, consumers, and governments."

Gemini to Automate Crypto Taxes with TaxBit

The funding comes after PayPal Holdings Inc. invested in Taxbit. While the size of investments remains undisclosed, Woodward said the funds would be used for growing the team and expanding the business. The Utah-based cryptocurrency tax startup already has dozens of crypto-related partners, including Gemini, and Uphold.

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