Back in 2018, the CEO of Summ (formerly Crypto Tax Calculator) Shane Brunette was struggling with his own crypto tax nightmare after building his own DEX relay. Endless amounts of manual calculations, more spreadsheets than he’d like to admit, and a general sense of frustration and anxiety, led him to realise a gap in the burgeoning (and otherwise technologically progressive) cryptocurrency industry. Shane reached out to his brother Tim Brunette for help, and Summ was born.
Summ’s mission is simple: to make understanding your crypto tax obligations easy and straightforward. We knew that our software would have to match the sheer vastness of the cryptocurrency universe; tracking and organizing all of a user’s crypto activity across hundreds of exchanges, blockchains and wallets so that people can actually relax come tax time. We wanted to create software that would give people the hours of their lives back that they’d otherwise have to spend muddling through their crypto transactions. The dream was a glorious utopia; where all you would have to do to organize your crypto taxes would be to click a button, import a wallet address, and leave the hard stuff to readily accessible software. As crypto is being embraced by the mainstream, we believe that this level of accessibility is crucial. By helping users stay tax compliant, we believe that we’re furthering the legitimization efforts of the crypto industry as a whole.
Fast forward to March 2022, and today the Summ team is proud to announce our $4M seed funding round. AirTree Ventures, a venture capital fund focused on investing in the best Australian and New Zealand technology founders led the capital raise, which also attracted investment from Coinbase Ventures and 20VC. These investments emphasize the importance of accessible crypto tax compliance tools as we move into an era of mainstream crypto adoption. We are so grateful to have such supportive investors backing us, and are excited for what comes next.
So what comes next, you may be wondering? This funding will go towards bolstering the team, developing the scope of the product and more… Watch this space.
Thank you for coming on this journey with us,
The Summ Team
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