Vertex (VERX) announced it has completed a strategic investment in Kintsugi, a San Francisco-based, AI-native startup focused on automating sales tax compliance for small and mid-size businesses, SMBs. Terms of the agreement include a $15M minority investment representing a 10 percent ownership interest, as well as IP sharing and a commercial arrangement. Additionally, Vertex will join the Kintsugi Board of Directors. The adoption of tax automation solutions is growing substantially as businesses face increasing compliance complexity associated with eCommerce and SaaS growth, cross-border trade and a patchwork of new tax regulations. Kintsugi automates the entire sales tax compliance lifecycle for small businesses, including tax calculations, filings, and compliance monitoring across multiple jurisdictions. Founded in 2023, Kintsugi has experienced rapid growth and expansion within the U.S., Canada and Europe.
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