Berlin – While working at SMP, members of the YPOG team advised early-stage investor 42CAP on its investment in the Aachen-based TaxTech startup Taxy.io. Together with existing investor Techvision-Fund I and other supporters, lead investor 42CAP invested a seven-digit amount in the course of the growth financing. Taxy.io says that it plans to use the fresh capital to expand its range of automated B2B tax advice to the DACH region and to also offer general legal advice soon. 42CAP received legal advice from a team led by Frederik Gärtner and Tim Schlösser together with Konstantin Häfner. Previously, they have advised the venture capitalist in connection with numerous financing rounds as well as on the launch of its second VC fund generation.
"Disruptive technologies have also been driving the digitalization of traditional legal advice for some time. For example, the services offered by LegalTech startups already enable many law firms and accounting firms to save significant time and costs," says Tim Schlösser. "Taxy.io not only offers great market potential, but also demonstrates the importance of encouraging university spin-offs in Germany. As supporter of the Incubation Program of RWTH Aachen University, we are therefore particularly pleased that we were once again able to assist 42CAP in legal matters in connection with Taxy.io's successful growth financing," adds Frederik Gärtner.
42CAP
42CAP investors Alex Meyer and Thomas Wilke invest very early in young companies with global ambitions. With eCircle, they themselves built one of the largest European SaaS companies and sold the profitable company to Teradata (NYSE:TDC) in 2012. The 42CAP credo, Peers among Entrepreneurs, reflects their investment approach to support data and technology-based business models, product-driven entrepreneurship, and sustainable business development. This background is appreciated by founding personalities such as Nicolas Reboud (SHINE, Paris), Inigo Ijuantegui (Ontruck, Madrid) and Alexander Igelsböck (Adverity, Vienna).
Taxy.io
Taxy.io is a spin-off of RWTH Aachen University. Based on AI, the company offers a software to create the basis for automated B2B tax advice. As a team of computer scientists, industrial engineers and tax consultants the company has developed a technology that helps software to understand legal literature and to adapt it to individual client scenarios. The goal is to create a central information hub for digital tax intelligence that can be used by employees in finance and tax departments for action recommendations, but that can also be integrated by third-party applications. These include, for example, CRM or accounting software. Taxy.io was founded in April 2018 by Sven Peper, Daniel Kirch, Steffen Kirchhoff and Sven Weber.
Advisors 42CAP:
Dr. Frederik Gärtner (Lead/Corporate), Associated Partner
Dr. Tim Schlösser (Lead/Corporate), Partner
Konstantin Häfner (Corporate), Associate
About us
YPOG is a law firm specialized in tax and business law, active in the core fields of Funds, Tax, Banking + Finance, and Transactions. The team at YPOG represents a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations, as well as private equity, and venture capital funds. YPOG is one of the leading advisors for venture capital, private equity, and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus, Chambers and Partners as well as Leaders League. Today, YPOG has more than 120 experienced lawyers and tax specialists and a notary, in three offices, located in Berlin, Hamburg, and Cologne.
