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What’s New In Investments, Funds? – Kintsugi

Editorial Staff June 3, 2024

What’s New In Investments, Funds? – Kintsugi

The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Kintsugi, a firm that helps businesses navigate the complex web of sales tax regulations, has announced a $6 million funding round (at $40 million valuation) for its tax automation platform.

The series A funding round at San Francisco-based Kintsugi AI was led by Link Ventures with participation from Venture Highway, KyberKnight, Plug and Play and DeVC, along with a lineup of angel investors. The team will use the fresh funds to drive Kintsugi AI's development of automated VAT solutions for Canada and Europe, supporting customers selling internationally, the firm said in a statement yesterday.

"We are hyper-focused on helping more than 27 million e-commerce and SaaS businesses worldwide save time and money by putting their sales tax on autopilot," Pujun Bhatnagar, CEO and co-founder of Kintsugi AI, said. “Tax complexity is only increasing and, without the right tools, manual processes will inevitably fail to scale. That's where Kintsugi comes in.”

Kintsugi was founded by Stanford graduate and former Facebook machine learning engineer Bhatnagar, ex-Credit Suisse and Goldman Sachs analyst Barkin Doganay, and previous Atlassian executive and MonetizeNow CTO Jeff Gibson. The trio launched Kintsugi in 2021, in the aftermath of a landmark taxation case at the Supreme Court in 2018 that allowed states to require remote sellers to collect and remit sales tax.

Looking ahead, Kintsugi is planning to strengthen its platform and team so that sales tax can be put on autopilot for every company, no matter where in the world they operate.

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