British startup TaxScouts has announced a Series A round of €5.5 million to expand its footprint into Europe – first stop being Spain

British startup TaxScouts, founded by TransferWise, has announced a Series A round of approximately €5.5 million to expand its footprint into Europe.

The company aims to make personal tax returns completely stress-free by doing it for you online. Now, it seeks to reach a wider market by creating a “Pan-European” tax filing service, with the first stop being in Spain.

TaxScout service combines automation and human accountants. The web app walks you through your tax status, income and expenses and asks you to upload photos of required documents, such as invoices or dividends certificates. Once the process is complete the information is then captured and stored digitally ready to be assigned to an accountant.

The company charges a simple flat fee – currently £119 in the U.K.  and promises a quick turnaround in as quick as 1-2 days.

Mart Abramov, co-founder and CEO of TaxScouts, commented: “We see a huge amount of potential in launching TaxScouts into Spain. Naturally, the weather and the wine were considered when picking the market but having successfully built a solution for one of the trickiest tax systems in Europe, we are confident that we can deliver another great product for Spain’s complex tax structure. The market is double that of the UK, and this is the first step to us building a Pan-European tax service. We will build the go-to solution for anyone across Europe to easily file their tax return regardless of its complexity. This investment will enable us to quickly scale up a team to support our new Country Manager in Madrid and launch other new products in the UK.”