Visor, a platform which helps individuals to optimise their taxes, has reportedly raised $9m in its Series A.
The capital injection was led by early-stage venture fund Defy, according to a report from Tech Crunch. Participation to the round also came from Unusual Ventures, SVB Capital and a number of existing backers including Obvious Ventures, Fika Ventures and Boxgroup.
Following the new line of funding, the company has raised a total of $15.5m. As part of the deal, Defy managing partner and co-founder Neil Sequeira will joining the company’s board of directors, the article states.
San Francisco-based Visor provides individuals with machine learning tools to improve tax processes. Its technology is able to pinpoint exact deductions, which gives its advisors a data-driven understanding to help the client maximise savings.
Visor will complete tax returns on behalf of the customer, but it will also connect them with a tax expert advisor which will be available all year-round for making the best tax decisions.
It works by a consumer answering some questions to receive a price estimate and then being matched with a tax advisor. They then need to choose a tax year and provide details of their financial life.
Once the account has been made, the client has to send pictures of scans of various tax documents such as W2, 1099, or K-1 and put them on the Visor dashboard. Visor will then be able to complete all tax filing, and calculate refunds.
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