September 25, 2024
Xbooks S.r.l., a startup focused on simplifying cryptocurrency tax management, has secured a €1 million investment round led by Primo Ventures SGR S.p.A. through its various funds. The capital will be used to speed up product development, grow the team, and strengthen the presence of CryptoBooks, XBooks' first product, in the European market, starting with Spain, Germany, and France.
Project | Latest Raise | Latest Raise Date | Lead Investor | Category |
|---|---|---|---|---|
Cryptobooks | €1M | September 25, 2024 | Primo Ventures | FinTech |
Federico Pacilli, the founder and president, mentioned that the investment will help the company expand into other European markets while reinforcing its leadership in Italy. The company also plans to develop new B2B features and integrate more APIs. So far, they have successfully sent over 3,000 statements for clients and have partnered with Banca Popolare di Sondrio, with more partnerships to be announced soon.
About CryptoBooks
CryptoBooks is a platform designed to help cryptocurrency users manage their taxes efficiently. It offers tools to track and account for all crypto transactions, ensuring accurate tax reports that comply with regulations. Users can connect over 500 wallets and exchanges via APIs or CSV files, and the platform provides advanced features like portfolio tracking and tax optimization strategies. CryptoBooks aims to simplify the tax filing process, making it easier for users to understand and manage their crypto tax obligations.
Website: https://cryptobooks.tax/en
About Investor
Investor: Primo Ventures
Primo Ventures is an early-stage venture capital firm that invests in innovative companies across four main sectors: digital, health, climate, and space technologies. They manage several funds, including Barcamper Ventures, Primo Digital, Primo Space Fund, and Primo Health, among others. With a strong entrepreneurial background, Primo Ventures supports startups by providing the necessary capital and guidance to help them grow and succeed. They are well-connected with major innovation and research centers in Italy and Europe, analyzing over 1,000 projects annually to identify promising new entrepreneurs.
Location: Italy
Website: https://www.primo.vc/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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