As businesses grow, the complexity of sales tax compliance increases. Addressing this challenge is Kintsugi, a fintech startup using advanced AI to simplify tax compliance. Today, Kintsugi announced the successful completion of a $6 million Series A funding round, valuing the company at $40 million.

This funding round was led by Link Ventures, with additional investments from Venture Highway, KyberKnight, Plug and Play, DeVC, and a group of notable angel investors. The capital will support Kintsugi’s expansion into automated VAT solutions for Canada and Europe, helping businesses manage global tax obligations.

Kintsugi was founded in 2021 by three industry experts: Pujun Bhatnagar, a Stanford graduate and former machine learning engineer at Facebook; Barkin Doganay, an ex-analyst at Credit Suisse and Goldman Sachs; and Jeff Gibson, a former executive at Atlassian.

The inspiration for Kintsugi came from a pivotal 2018 Supreme Court decision that required remote sellers to collect and remit sales tax, revealing the inconsistent nature of state tax laws. This highlighted the need for a streamlined, automated compliance solution.

Kintsugi’s platform provides a comprehensive solution, including real-time nexus monitoring, AI-powered product categorization, accurate tax calculations, sales tax registration, filing, exemption certificate management, and back-tax compliance. The core of Kintsugi’s system is a robust LLM trained on regulations from 110,000 jurisdictions, ensuring precise transaction processing and seamless compliance management.