Less than 1% of global crypto investors comply with taxation laws, but tech company Divly is making it easier. With just a few clicks, investors can now declare their crypto assets. The company has raised 400k USD in a funding round.
HELSINKI, Finland STOCKHOLM, Sweden, March 6, 2023 /PRNewswire/ — Despite being required by law, sadly less than 1% of cryptocurrency investors have declared their holdings to the relevant authorities in 2022.
“We recognize a large problem in declaring crypto taxes and we believe our product will make it simpler. Working out what needs to be declared for each transaction can be laborious and time consuming. If you’re not an accountant, tax lawyer, or computer programmer and you have many transactions, it’s virtually impossible to figure it out by yourself,” states Carl Gärdsell, founder of Divly.
Investors included in the funding round were DHS Venture Partners, Greens Ventures, and YEoS Ventures. Since March 2022, Divly has partnered with Coinmotion, the largest Finnish virtual currency service provider, and Safello, the biggest crypto brokerage in Sweden, which has around 300,000 users. Divly have also collaborated with BYDFi and Coingecko.
The crypto market had a turbulent year, yet Divly has still managed to expand its services to all Nordic countries, The Netherlands, Japan and Germany. The company’s simplicity and mission to make crypto taxation easier have been key to its success.
Cryptocurrency investors can now easily access tax declarations with Divly’s recent funding round proving a success. This is set to bring about a continued growth and reach to investors around the globe. With the MiCA and DAC8 regulations, authorities will have better control over cryptocurrency, with a major requirement being that exchanges must provide user information to EU tax authorities by January 2026.
“The procedures and processes of managing taxes will become increasingly important. Transactions on the blockchain are not anonymous and authorities can soon expect to have people backtrack and account for their transactions. We want to make it easier to do the right thing,” said Carl Gärdsell, co-founder of Divly.
Divly, a service that seeks to simplify tax filings in the crypto market, was founded in June 2021 by Carl Gärdsell and Ruben Rehn. To learn more about Divly, click here: https://divly.com/.
For inquiries, contact Youri Lempers, International Expansion Manager for Divly, at ***@divly.com. Images and press releases can be found at https://www.prlog.org/12954062. PRLog distributes the press release.