Lettuce Financial Labs, a San Francisco-based startup, has received $6 million in seed funding from Zeev Ventures, helping fuel development of its Solopreneur Accelerator program to provide tax and accounting services to people who work for themselves.
Through the program, Lettuce plans to provide 1,000 "solopreneurs" with a free personalized business assessment to maximize their profits in 2024, and will also file their 2023 taxes on their behalf.
"More people are choosing to work for themselves, yet they lack the time, tools and information to make strategic decisions about the best tax and accounting options for their businesses," said Lettuce Financial CEO Ran Harpaz in a statement Wednesday. "Our goal at Lettuce is to fully support solopreneurs with foundational financial guidance and to alleviate tax-related and accounting concerns so they can focus on growing their businesses and doing the work they love."
Lettuce is leveraging artificial intelligence and automation to offer proactive tax-saving suggestions to small business owners and handle various aspects of a solopreneur's taxes and accounting, including setting up an LLC or S corp, managing IRS requirements, and preparing tax forms.
The $6 million in funding was led by Zeev Ventures, along with other angel investors. The funds will be used to accelerate growth, and product development, and to invest in further AI research.
"Ran and his team are an exceptional group of professionals who understand first-hand both the opportunities and challenges that solopreneurs face, and they have a proven track record of building businesses to scale," said Oren Zeev, founding partner of Zeev Ventures, in a statement. "I look forward to partnering with the Lettuce team as they continue to grow the company and leverage AI in their products to serve millions of solopreneurs around the globe."
The technology was developed with the help of an organization called A.Team.
"We're always looking for new ways to help A.Teamers simplify their lives as independent builders so they can focus on what they love to do — build," said A.Team founder Raphael Ouzan in a statement. "Lettuce's platform was developed with builders from the A.Team network, and uniquely addresses the pain points of consultants and freelancers. We're excited to for Lettuce to help A.Teamers save time and be more profitable."
Lettuce said its Solopreneur Accelerator program would offer the first 1,000 solopreneurs who join a tailored business assessment to enhance their profitability. It will also provide a complimentary 2023 tax return for solopreneurs to use for filing or as a second opinion in comparison with their tax service to participants who
