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HomePhilippines Philippine fintech startup Beppo Secures Pre-Seed Funding

[FUNDING NEWS] Philippine fintech startup Beppo Secures Pre-Seed Funding

Beppo has concluded a pre-seed funding round that was spearheaded by Wavemaker Partners and included unidentified angel investors.

Beppo has concluded a pre-seed funding round that was spearheaded by Wavemaker Partners and included unidentified angel investors.

With the help of the funding, the business will be able to purchase JuanTax, an online tax platform recognised by the Internal Revenue Service. Additionally, five bookkeeping companies will be purchased with the funds. PayRun, MBH Online Accounting and Business Solutions, KJA Compliance and Tax, Konsepto Business Process Solutions, Inc., and Tala Buluran and Co. Accounting Firm.

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Through partnerships with other service providers, the financial firm is also thinking about growing to other regions of the nation. There are plans to expand internationally as well.

Beppo automates tax compliance and bookkeeping for independent contractors and Filipino enterprises. Its artificial intelligence technology saves time and minimises errors by using optical character recognition (OCR) software to extract data from receipts and classify transactions. The acquisition of JuanTax will enable Beppo to function as a one-stop shop for Filipino companies in need of financial management and assistance with tax filing obligations.

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The company reported that since December 2023, its revenue has increased by nearly 600%, driven by an increase in web and mobile users as well as new client acquisitions.

Jenny Galang, CEO of Beppo, said “With the acquisition of JuanTax and seasoned partner firms, we’re set to redefine the bookkeeping and tax compliance experience for businesses and the self-employed, so they can focus on what’s really important–driving sustainable growth.”

Eric Manlunas, co-founder and General Partner at Wavemaker Partners, added “By automating repetitive and time-consuming bookkeeping tasks, Beppo enables businesses to efficiently manage their financial records and allocate their resources where they’re most needed in growing their business.”

About Beppo

Beppo is the smart solution to SMEs’ and independent contractors’ tax compliance and bookkeeping requirements.

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