Accountable Raises €10M Total in Extended Series A

Mobile tax and financial services startup Accountable secured a total of €10 million ($10.5 million) in an expanded Series A funding round, bringing its total raised since launching to €16 million, EU-Startups reported Thursday (May 5).

Launched in 2017 by co-founder and CEO Nicolas Quarré, co-founder and Managing Director Germany Tino Keller and co-founder Alexis Eggermont, Accountable has headquarters in both Brussels, Belgium, and Berlin, Germany. The startup is striving to make it easier for freelancers and self-employed workers to manage financial services and tax responsibilities. 

Participants in the Series A included venture capital firm 10x Founders, Billie founders Matthias Knecht and Christian Grobe, and former marketing director for Deliveroo and Transferwise George Pallis. Accountable also raised €6 million last year, led by capital funds Stride.VC and Connect Ventures. 

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“This support by successful founders from the German fintech scene proves that we are on the right track to make Accountable the best tax solution for self-employed people in Europe,” Keller said, according to the report.

The new capital will be used by the startup for European expansion and the launch of new financial products and services. In collaboration with the French unicorn Qonto, the company launched the discount solution Freelance Tools and a Tax Masterclass.

Accountable analyzes bank transactions to offer users real-time tax information and recommendations. The platform is used by over 20,000 freelancers and self-employed workers in Europe for accounting and taxes. 

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The company is planning to integrate the trade tax return into the app before the end of this year, as well as the automated income tax declaration and VAT return. When these tools are integrated, Accountable will be the first tax app covering all self-employed professionals in Germany, according to the article. 

Accountable also digitizes the entire accounting process and uses machine learning to offer people tax-saving tips. The app also offers invoice generation and receipt scanning.