Indy, a French Startup Simplifying Taxes For Freelancers Follow Nov 21, 2023 · 1 min read
Indy, a French Startup Simplifying Taxes For Freelancers
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Indy, a French company, has successfully closed a funding round of $44 million (€40 million) with BlackFin Capital Partners at the helm. Originally designed as an automated accounting tool for independent contractors and gig workers, Indy has evolved into an all-in-one platform for freelancers.

Recognizing the unique needs of freelancers, Indy has expanded its offering to include a comprehensive range of features. In addition to accounting, the platform now provides services such as company formation, tax preparation, invoicing, and soon, business banking. By offering these diverse tools, Indy aims to empower freelancers with the financial and administrative support necessary to successfully manage their own business.

Indy’s automated accounting feature allows users to automatically sync their bank accounts with Indy, retrieve past and future transactions, categorize each transaction, and automatically capture VAT. Customers can add receipts for VAT recognition and archive them for tax audits.

Indy can pre-populate tax forms and process VAT returns at the end of the year. The accounting tools are free to use forever, but a monthly subscription is required for tax form generation and filing.

They offer a range of services for free, reducing user acquisition costs and enabling economies of scale. The company is focused on its home market of France, which has millions of self-employed workers, and is looking to replicate its service in other European countries.

Unlike well-capitalized companies like Found and Lili, Indy is not looking to compete head-to-head with these companies. The company’s distribution strategy appears to be effective in capturing the market opportunity.

Whether you are a sole proprietor or a self-employed individual, Indy is dedicated to providing you with the necessary resources to thrive in your freelance endeavors. With its user-friendly platform and robust suite of services, Indy is poised to revolutionize the way freelancers handle their finances and administrative tasks.

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