It has acquired , a popular provider of a cloud-based suite of tax services, which can be used to automatically calculate, report and file sales taxes.
The tidal wave of growth is upon us β an unprecedented economic boom that will manifest later this year, bringing significant investments, acquisitions, and customer growth.
And it makes money on interchange fees with both offerings.
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The TaxJar acquisition, however, is filling a noticeable gap in its native product set, as well as a pain point for its customers, specifically in the area of sales tax.
Virtually all major companies are increasing budgets to pre-pandemic levels, but will delay those investments until the second half of the year.
The whole process can take less than a second not including the time it takes you to take a picture, of course.
Mathur said the startup will focus on further growing this business in the next three years and then explore taking the startup public.