About LumaTax
LumaTax is a company based in Budapest (Hungary) founded in 2018 by Fergal Garvey, Stefan Mladenovic, and Michael Glover was acquired by Taxually in April 2023.. LumaTax has raised $13.12 million across 4 funding rounds from investors including KPMG, Taxually and Trilogy Equity Partners. The company has 9 employees as of December 31, 2022. LumaTax offers products and services including LumaTax and CrossTax. LumaTax operates in a competitive market with competitors including Avalara, TAINA Technology, Exactera, Beppo and Arkk Solutions, among others.
- Headquarter Budapest, Hungary
- Employees 9 as on 31 Dec, 2022
- Founders Fergal Garvey, Stefan Mladenovic, Michael Glover
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Lumatax
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Products & Services of LumaTax
LumaTax offers a comprehensive portfolio of products and services, including LumaTax and CrossTax. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Automates US sales tax filings and compliance for businesses.
Manages VAT solutions for global eCommerce and enterprise needs.
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Board Team
2 people
Software Development Team
1 people
Product Management Team
1 people
Leadership Team
1 people
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Funding Insights of LumaTax
LumaTax has successfully raised a total of $13.12M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $6.12 million completed in May 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series B — $6.1M
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First Round
First Round
(14 Sep 2016)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| May, 2021 | Amount | Series B - LumaTax | Valuation | Trilogy Equity Partners | |
| Feb, 2020 | Amount | Series A - LumaTax | Valuation | KPMG | |
| Jan, 2018 | Amount | Series A - LumaTax | Valuation | Cowboy Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
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Investors in LumaTax
LumaTax has secured backing from 8 investors, including venture fund and institutional investors. Prominent investors backing the company include KPMG, Taxually and Trilogy Equity Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage venture capital is invested in US technology sectors.
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Venture capital investing in AI, biotech, and technology sectors, focusing on seed and early stages in Seattle and beyond.
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US focused Seed and early-stage stage VC firm
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Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Venture capital is directed toward companies in multiple sectors.
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Investments & Acquisitions by LumaTax
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - LumaTax
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Lumatax Comparisons
Competitors of LumaTax
LumaTax operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Avalara, TAINA Technology, Exactera, Beppo and Arkk Solutions, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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Cloud-based tax compliance solutions are delivered for businesses worldwide.
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Compliance management platforms are provided for financial institutions' regulatory needs.
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Tax compliance software solutions are provided for business operations.
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Bookkeeping and tax compliance platform for SMEs and freelancers
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Regulatory and statutory reporting solutions are offered for financial firms.
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Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about LumaTax
When was LumaTax founded?
LumaTax was founded in 2018.
Where is LumaTax located?
LumaTax is headquartered in Budapest, Hungary.
Who is the current CEO of LumaTax?
Stefan Mladenovic is the current CEO of LumaTax. They have also founded this company.
Is LumaTax a funded company?
LumaTax is a funded company, having raised a total of $13.12M across 4 funding rounds to date. The company's 1st funding round was a Series A of $3M, raised on Sep 14, 2016.
How many employees does LumaTax have?
As of Dec 31, 2022, the latest employee count at LumaTax is 9.
What does LumaTax do?
A platform for tax and compliance management was established in 2018 in Budapest, Hungary. Sales tax exposure is identified and mitigated for businesses through unified transaction data from multiple sources. Nexus determination, sales tax registration, and return preparation are facilitated. Tools are provided to indirect tax professionals for data collection, current and prior period filings, and audit defense in the fintech sector.
Who are the top competitors of LumaTax?
LumaTax's top competitors include Avalara, Exactera and TAINA Technology.
What products or services does LumaTax offer?
LumaTax offers LumaTax and CrossTax.
Who are LumaTax's investors?
LumaTax has 8 investors. Key investors include KPMG, Taxually, Trilogy Equity Partners, Madrona, and Cowboy Ventures.
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