TaxCalc, a UK provider of tax and accounting software, has secured investment from STG Allegro, a US-based buyout fund managed by STG Partners, to enhance its product offering.
The British company plans to collaborate with STG and use the funds to improve its products, invest in customer support and launch new, innovative solutions.
TaxCalc’s software solutions support UK accounting practices with solutions for account production, tax compliance and practice management.
The company’s product suite includes WorkFlow, Communications Centre, AML Centre, FRS 102 MLA and group accounts, all accessible through its unique CloudConnect service.
STG Allegro co-lead managing director Umang Kajaria said: “The pace of innovation emanating from TaxCalc reflects their commitment to their clients, as well as their ability to understand the needs of accounting firms. We are impressed with TaxCalc’s focus on providing high-quality, reliable software at a good price.
“We look forward to working with the TaxCalc management team to continue delivering best-in-class software, product innovation and support to their highly valued accounting firm customers.”
Since its founding in 2004 by Tracy Ebdon-Poole, TaxCalc has grown to more than 110 employees and 11,000 accounting firm clients.
TaxCalc founder Tracy Ebdon-Poole said: “Our mission at TaxCalc is to provide cutting-edge, reliable and trusted tax compliance and accounting software that is intuitive and delivers exceptional value. I am pleased that TaxCalc will be working with STG to continue supporting our clients in this mission.
“STG has a strong track record of growing software companies with a focus on customer-driven product innovation, customer service and strategic transformation.”
“TaxCalc Secures STG Allegro Investments to Boost Business” was originally created and published by International Accounting Bulletin, a brand owned by GlobalData.
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