Tech News: Crowe sells tax tech solutions

July 1, 2022 8:00 AM

April Tax Solutions raises $30 million; Top 25 firm Citrin Cooperman announced the launch of a new website; Crowe Technologies sold three tax technology solutions to a venture capital firm; and other news and updates from the world of accounting technology.

Crowe sells tax tech

Crowe sells tax technology solutions to venture capital firm

Top 10 Firm Crowe said that it has sold a suite of several tax technology solutions to venture capital firm K1X Inc. The deal involves the divestment from three Crowe products: C-TRAC, K-1 Analyzer, K-1 Navigator. Further, K1X will offer jobs to about 40 Crowe tax technology professionals who work on and are responsible for programming the products. The financial terms of the deal were not disclosed.

April raises $30M

April Tax Solutions, which runs a personal income tax software platform, raised $30 million in a Series A round led by Treasury, a fund focused on building out fintech infrastructure. The startup's tax engine can be embedded in digital financial apps, and lets users perform tax calculations throughout the year as data emerges, and proactively fills in the information need for tax filing. The company plans to use the new funding to expand its R&D and increase its operational capacity in advance of next tax season.

Citrin Cooperman has a new website

Top 25 Firm Citrin Cooperman announced the launch of a brand new website, a change that the firm says reflects the major growth it has experienced over the past few years. Developed in cooperation with the web development team at Icreon, Citrin Cooperman’s new website is meant to convey a focus on industry expertise and thought leadership, as well as programs and education unique to the firm.

Mergers and partnerships

AI and analytics firm SAS announced its acquisition of Honolulu-based Kamakura Corporation, which provides specialized software, data and consulting for financial organizations across the spectrum to manage financial risks. … Financial consolidation, close and reporting software solutions provider Fluence Technologies announced it has completed the acquisition of Italian company Sturnis365, which provides disclosure management and narrative reporting software solutions. ... Financial services conglomerate Marygold said that it has completed the acquisition of U.K. investment advisory firm Tiger Financial & Asset Management Limited, which has £42 million worth of assets under management.

Other news

Payroll software provider Wagepoint announced it is now integrated with Xero’s platform via a single sign-up system that allows users to connect with Wagepoint via their existing Xero credentials, sync payroll data into their Xero account, and view more information in one place. … Accounting and HR software providers Countsy said that it is using a new product from AI startup Vic.ai, specifically its AutoPilot setting, a solution only available to those who meet certain criteria that runs a company’s accounts payable process from beginning to end, without human intervention.