Series A21 September 2022

Loctax raises £10.4m in Series A funding led by Index Ventures to expand its tax governance platform

The Series A round was led by Index Ventures with participation from Cavalry Ventures and Seedcamp.

£10.4MSeries A

Loctax builds a collaborative platform for in-house tax teams to manage international tax compliance, governance and risk. The company provides a single view of global tax obligations to help multinational organisations demonstrate responsible corporate citizenship.

Taxops, trading as Loctax, has secured £10.4m in Series A funding to support its expansion across the UK and the European Union. The investment round was led by Index Ventures, with participation from existing backers Cavalry Ventures and Seedcamp, alongside several high-profile angel investors.

The capital will also be deployed to build out the company partner network within the professional advisory and tax sectors. Loctax offers a digital governance platform designed to help multinational enterprises navigate complex international tax regulations and coordinate cross-border compliance.

The financing arrives amid increasing regulatory scrutiny on corporate tax transparency from bodies such as the OECD. Leadership at Loctax notes that legacy technology often leaves tax data siloed across jurisdictions, increasing exposure to operational risk and financial penalties.

From the founder

"Companies are under more pressure than ever to meet growing tax reporting and regulatory requirements as well as the expectations of stakeholders to show they are doing the right thing. Currently there’s no shared concept in how companies and regulators talk about tax, and no straightforward way for tax teams to be confident that they’re meeting all their obligations."

Hans Kayaert

CEO at Loctax

Investor perspective

"Tax teams, particularly those at companies operating in more than one jurisdiction, are coming under more and more pressure, both from increasing regulation in this area, and heightened expectations from stakeholders around tax reporting and transparency. What Loctax is building will give tax teams a single source of truth and allow them to ensure compliance in all locations while improving the team’s workflow and efficiency."