Tax consulting: Investments in tax start-ups: Reid Hoffman and Christian Lindner discover the tax industry
Berlin tax tech companies are collecting millions to have accounting done by AI agents. Investors are betting that AI can eliminate the industry's shortage of specialists.
Reid Hoffman, co-founder of LinkedIn, and Mosaic Ventures, a London-based venture capital firm, are investing 18 million euros in Berlin-based startup Integral, as part of a Series A funding round. This brings the total funding for Integral to 30 million euros, with existing investors General Catalyst, Cherry Ventures, and Puzzle Ventures also participating.
Hoffman and Mosaic Ventures have previously invested in AI companies, including OpenAI, developer of ChatGPT, and Parloa. The investment is part of a trend of millions of euros flowing into German tax tech companies, driven by the expectation that artificial intelligence could transform the tax consulting industry, which faces a shortage of skilled workers.
The industry's average age is 53.7 years, with nearly half of professionals over 56, according to data from the Bundessteuerberaterkammer.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.