LumaTax closes $3m financing round led by Cowboy Ventures

Tax compliance solution LumaTax has closed a $3m financing round led by Cowboy Ventures.

Other investments to the round came from existing Madrona Venture Group, and Greycroft Partners, as well as new backer Vulcan Capital.

Alongside this batch of financing, LumaTax is partnering with Square, a company that enables companies to accept a range of different payment types. By integrating with Square App Marketplace, LumaTax will allow merchants to file sales taxes in any state.

US-based LumaTax automates the sales tax compliance processes for small businesses. The application, which is also available on mobiles, offers tools to automate audit analysis, and tax return filings.

The capital and this partnership will help LumaTax to expand its Touch-free Tax Returns platform to small businesses in new markets.

Cowboy Ventures partner Ted Wang said, ?LumaTax enables small business owners to build their businesses instead of spending time on the painstaking and burdensome process of tax reporting.

?I am particularly excited about LumaTax’s partnership with Square, because I have been involved with Square since it was a brand-new company with a similar mission of applying technology to help small businesses.p>

Last year, Cowboy Ventures participated in B2B e-commerce platform NuORDER $8m Series B round, which was led by Argentum. The capital was raised to support the company with its global expansion plans.

Fellow tax solution company CrossBorder Solutions recently closed a funding round, picking up $6m in a Series A round led by Kennet Partners.

Copyright ? 2018 FinTech Global

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