Tax Lab

Early Stage

AI-driven SaaS to simplify complicated bookkeeping & taxes for small businesses

Overview

Raised to Date: Raised: $54,815

Total Commitments ($USD)

Platform

Republic

Start Date

11/29/2022

Close Date

02/28/2023

Min. Goal

$25,000

Max. Goal

$3,000,000

Min. Investment

$150

Security Type

SAFE

Series

Seed

Funding Type

RegCF

Valuation Cap

$15,000,000

Discount Rate

0%

Rolling Commitments ($USD)

Status

Active

Reporting Date

02/02/2023

Days Remaining

26

% of Min. Goal

219%

% of Max. Goal

2%

Likelihood of Max
unlikely
Avg. Daily Raise

$843

# of Investors

53

Momentum
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Location

Los Angeles, California

Industry

Business Services, Software, & Applications

Tech Sector

EnterpriseTech

Distribution Model

B2B

Margin

High

Capital Intensity

Low

Business Type

Growth

Tax Lab, with a valuation of $15 million, is raising funds on Republic. The company has developed an AI-driven bookkeeping solution to simplify accounting and taxes for small businesses. The solution, SynkBooks, has simple and intuitive functionalities and lets users focus on scalability and profitability. Tax Lab is overseeing $14 million in gross receipts for the current client base and reported a 590% revenue growth from the first half of 2021 to the first half of 2022. Isai Bismark Cortez and Lonny Schwartz founded Tax Lab in July 2018. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $3 million. The campaign proceeds will be used for expansion into more diverse customer acquisition channels and for building additional features into the software.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$60,778

$38,508

COGS

$2,387

$650

Tax

$0

$0

 

 

Net Income

$-19,790

$7,267

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$18,508

$3,764

Accounts Receivable

$0

$0

Total Assets

$18,508

$3,764

Short-Term Debt

$5,896

$2,728

Long-Term Debt

$198,687

$167,322

Total Liabilities

$204,583

$170,050

Financials as of: 11/29/2022
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Tax Lab on Republic 2022
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Platform: Republic
Security Type: SAFE
Valuation: $15,000,000

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