TORONTO, September 13, 2021– (BUSINESS WIRE) – Paperstack, a Toronto-based FinTech company, announced today that it has secured funding to develop a technology-assisted accounting and tax reporting solution specifically for Canadian freelancers. The product will allow independent professionals to track business expenses, find attractive tax deductions, remit GST / HST, and prepare annual tax returns – fully on autopilot.
“The accounting industry hasn’t quite caught up with the fact that millions of freelancers are getting into DIY, because tools like Quickbooks and Xero are designed specifically for accountants, not end users. We wanted to create a solution that millions of freelancers like us can use. , without cringeing in the ledgers or losing sleep over debits and credits. “- said Vadim Lidich, co-founder and CTO, Paperstack.
Earlier this month, Paperstack became one of 12 companies that were accepted into Google Accelerator for Startups – a 10-week digital acceleration program for Seed to Series A tech startups based in the United States and the United States. Canada. While participating in Google Accelerator, Paperstack intends to leverage Google’s world-class engineering team to develop an autopilot accounting and tax reporting platform – the kind of solution based on the AI that would allow freelancers to track their expenses, maximize tax deductions. , and even prepare income tax returns, without manual entry.
“We want to help millions of freelancers pay less tax. What if every entrepreneur could access the benefits of a CPA, but without paying high fees? This is the question we asked ourselves when we launched Paperstack. And that is exactly the challenge we are facing. to Google, when we join their acceleration program on September 27. “- says Assel Beglinova, co-founder and CEO of Paperstack.
The company also closed a round of pre-seed funding, with the participation of prominent Canadian angel investors, regular entrepreneurs, executives and employees of Canada’s Technology Unicorns, as well as CPA accountants and lawyers from business. The amount raised will be used to develop and market the product. Paperstack plans to launch the product in Ontario later in 2021, followed by a gradual pan-Canadian rollout in 2022.
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Assel Beglinova, Co-Founder and CEO of Paperstack, E: [email protected]