Say hi to Beppo! This Philippine startup just raised a pre-seed round. They’re building an end-to-end solution for business accounting and tax compliance! It’ll be faster and simpler than ever.

• They serve Philippine SMEs and the self-employed.

Investor check. Wavemaker Partners led the round. Several angels also joined in!

• The amount is hush-hush.

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🧐 The context

Not everyone can afford a great accountant, especially when you’re just starting out. And on top of that, there just aren’t enough of them!

• There are only 200,000 CPAs in a country of 110M people. Less than 25% of test-takers for the Philippine CPA exam pass.

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🔢 The solution

Accounting. Still manually typing receipts in? You don’t have to.

• With AI, they use Optical Character Recognition (OCR) software to capture data from receipts and categorize transactions quicker and more accurately.

Tax compliance. No more headaches. They’ll automatically populate your tax forms for you to review and approve!

• It’s powered by JuanTax, the first BIR-Accredited Tax Solution Provider under Electronic Tax System.
• No need to download any other government forms or software.

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💰 Welcome to the family

The funding allowed them to acquire JuanTax. They also acquired the books of five bookkeeping firms in the Philippines.

• Their revenue has surged over 600% since December 2023, thanks to the acquisitions and user growth.
• Who are the firms? Tala Buluran and Co. Accounting Firm; MBH Online Accounting and Business Solutions; KJA Compliance and Tax; Konsepto Business Process Solutions, Inc.; and PayRun.

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💥 What’s next?

They’ll be expanding deeper into the Philippines! But they also expect to expand to new markets within the next 2-3 years.