Yonda Tax, a London-based platform automating global tax compliance, has secured $15 million in its first institutional funding round. The investment was led by Kennet Partners with participation from NYO Capital and Portfolio Ventures. This new capital is earmarked to accelerate product development, facilitate market expansion, and bolster the company's international growth trajectory.
Navigating Global Tax Complexity
As businesses scale internationally, they face a labyrinth of complex and evolving indirect tax regulations, including VAT, GST, and Sales Tax. This compliance burden often becomes a significant operational hurdle, diverting resources from core growth activities. Yonda Tax aims to eliminate this friction by automating the entire compliance lifecycle on a single, unified platform.
A 'Tax-First' Approach to Technology
Yonda distinguishes itself with a "tax-first, tech-second" philosophy, ensuring its automation is grounded in deep human accountancy expertise. This unique blend of technical capability and tax experience provides a high degree of accuracy and has attracted over 350 clients globally. The company serves a diverse clientele, from fast-growing SaaS platforms to Shopify merchants and AI startups.
Unlike many competitors, the company operates on a flat monthly subscription model based on the number of filing regions. This transparent pricing, combined with its positioning as a genuine partner, aims to provide a more intuitive and supportive service. The founders designed the platform to be a full-stack solution, not just a faceless software interface.
Fueling Future Growth and Innovation
The new funding will be instrumental in advancing Yonda's product suite through the deep integration of artificial intelligence. This will significantly simplify client workflows and reduce their operational costs. The company also plans to launch a specialized tax calculation tool, empowering fintech companies to embed a global tax engine into their platforms.
Beyond product innovation, the capital will support expansion into new geographic regions with enhanced, market-specific filing functionalities. A cornerstone of Yonda's strategy involves forging strategic partnerships with major financial firms worldwide. These collaborations will integrate Yonda's compliance experience into the offerings of its partners, benefiting a wider client base.
Investor Confidence and Market Validation
Co-founder Gareth Kobrin emphasized the company's commitment to being more than just software, but a partner in growth. "This funding enables us to bring even more value to our clients," he stated. "We’re excited to grow alongside the incredible businesses that rely on us, helping them stay compliant as they scale internationally."
Hillel Zidel, Managing Director at Kennet Partners, praised Yonda's unique market position and experienced team. He noted that the "tax-first, tech-second" approach breeds a level of accuracy and trust that stands out in the industry. This combination was a key factor in Kennet Partners' decision to become the company's first institutional investor.
This $15 million investment marks a significant milestone for Yonda Tax, validating its innovative approach to a persistent global business challenge. With fresh capital and strong investor backing, the company is well-positioned to enhance its platform and expand its reach. Yonda is set to solidify its role as a critical enabler for businesses navigating the complexities of international commerce.