TaxBit
“Can one platform become the global tax information reporting layer for the digital economy — from crypto to marketplaces to payments?”
Founded2018
HQDraper, Utah, United States
FoundersAustin Woodward, Justin Woodward, Brandon Woodward
Total raised$253.4M
Latest roundSeries B, 2021
Valuation$1.33B (2021)
IndustryInfrastructure / Tax Compliance
The story
TaxBit began in 2018 as a consumer/enterprise crypto tax calculator riding the retail crypto wave. After two large 2021 rounds it pivoted decisively to enterprise information reporting infrastructure — supplying tax form generation (1099-DA, 1099-K, 1042-S, W8/W9, DAC7, CARF/DAC8) to exchanges, marketplaces, payment processors and fintechs, plus a Government Solutions arm serving regulators including the IRS. The consumer TurboTax-style product has been de-emphasized in favor of API-first B2B compliance across 70+ jurisdictions.
Product timeline
2018
Founded in Salt Lake City by the Woodward brothers to automate crypto tax calculation.· founding
2021
Raised $100M Series A led by Paradigm and Tiger Global.· funding
2021
Raised $130M Series B at $1.33B valuation, becoming a unicorn.· funding
2022
Launched Tax Identity Verification (W8/W9) solution for digital asset brokers.· product
2025
Rolled out 1099-DA compliance for the new IRS digital-asset broker reporting regime.· product
2026
Announced partnership with Airwallex for marketplace payments + tax compliance workflow.· partnership
The stack
2 layers disclosed in TaxBit’s embedded-finance stack
FX & payouts
Accounting
in the full report
Accounting gap: none
5 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.