25.09.2023
sevDesk reports a loss of 20 million euro for 2021
2021 were hard times, indeed. sevDesk reports a loss of 20,9 million euro for the year 2021 and is not alone. Earlier this year, Berlin-based Taxfix (offering a modern way to do your taxes) reported a loss of roughly twice that size: 43,2 million euro. While these two TaxTechs do not necessarily share the same customer base, it shows that developing new tax software and making that software popular does not come cheap.
Fear not
Luckily, sevDesk received 50 million euro in a Series B funding in 2021. At this reported rate, money would have likely run out already. There is nothing to be afraid of, though. The team at sevDesk is aware and reduced its (acquisition) costs, supposedly leading to a significantly reduced loss in 2022.
Zoom out
To put the loss of 20,9 million euro in perspective: In 2020 there was a reported loss of five million euro and a revenue of about six million euro. A four times higher loss in 2021 lead to a 60% increase of revenue to 9,6 million euro.
History
sevDesk, based in Offenburg, Germany, was founded in 2013 by the co-CEOs Fabian Silberer and Marco Reinbold. Since then - with now more than 200 employees - sevDesk offers a cloud-based bookkeeping and invoicing software for freelancers and small businesses. In 2017 sevDesk raised 5,1 million euro, followed by another round in 2019 of 7,1 million euro. The last round so far was the already mentioned Series B with a staggering funding round of 50 million euro.
Anyone looking for a job?
If that sounds interesting to you, sevDesk is hiring:
Different job?
We got you covered: TaxTech Jobs
Sources
2021 were hard times, indeed. sevDesk reports a loss of 20,9 million euro for the year 2021 and is not alone. Earlier this year, Berlin-based Taxfix (offering a modern way to do your taxes) reported a loss of roughly twice that size: 43,2 million euro. While these two TaxTechs do not necessarily share the same customer base, it shows that developing new tax software and making that software popular does not come cheap.
Fear not
Luckily, sevDesk received 50 million euro in a Series B funding in 2021. At this reported rate, money would have likely run out already. There is nothing to be afraid of, though. The team at sevDesk is aware and reduced its (acquisition) costs, supposedly leading to a significantly reduced loss in 2022.
Zoom out
To put the loss of 20,9 million euro in perspective: In 2020 there was a reported loss of five million euro and a revenue of about six million euro. A four times higher loss in 2021 lead to a 60% increase of revenue to 9,6 million euro.
History
sevDesk, based in Offenburg, Germany, was founded in 2013 by the co-CEOs Fabian Silberer and Marco Reinbold. Since then - with now more than 200 employees - sevDesk offers a cloud-based bookkeeping and invoicing software for freelancers and small businesses. In 2017 sevDesk raised 5,1 million euro, followed by another round in 2019 of 7,1 million euro. The last round so far was the already mentioned Series B with a staggering funding round of 50 million euro.
Anyone looking for a job?
If that sounds interesting to you, sevDesk is hiring:
Different job?
We got you covered: TaxTech Jobs