Digital tax reporting solution OnlinePajak has reportedly netted a Series A round led by Alpha JWC Ventures, with participation from Sequoia Capital.
The funding round is believed to have been between $3m – $5m, according to a report by DealStreetAsia, which cites the company’s founder. The round is said to have closed a few months ago, but has only just been disclosed.
Indonesia-based OnlinePajak offers one application for businesses to simplify the entire tax reporting process, enabling calculating, depositing and reporting. Data is encrypted and backed up, while the technology uses the information to automate tax calculations for instant deposit and tax reports.
The company offers applications for employee, business and private taxes, it also gives access to a tax consultant and management for e-commerce taxes. Solutions for employee, business and private tax is free, with only premium solutions requiring payment.
This capital will be used to help the company to develop its technology, it said.
There has been a string of FinTech investments in Indonesia over recent months, with blockchain startup Pundi X closing its pre-ICO on $4m. Other transactions closed in the country include Tokopedia, an online marketplace, which raised $1.1bn, and lending platform UangTeman’s $12m Series A round.
Copyright © 2017 FinTech Global
