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Binocs Secures $4M to Enhance Crypto Tax Management

Binocs raises $4 million to expand its crypto tax management platform globally, focusing on the US, UK, South Africa, and Australia.
Published on 2022-09-22

Binocs Secures Funding for Global Expansion

Crypto tax management platform, Binocs, has successfully raised $4 million in a seed funding round. This financial milestone was led by BEENEXT, with participation from other influential investors such as Arkam Ventures, Accel, and Saison Capital. The capital injection will facilitate Binocs' global expansion, targeting key markets including the United States, the United Kingdom, South Africa, and Australia.

Mission to Simplify Crypto Compliance

Founded in July 2022 by Tonmoy Shingal and Pankaj Garg, Binocs aims to streamline the complex process of cryptocurrency taxation and compliance. The platform bridges the gap between the innovative world of Web3 currencies and traditional Web2 accounting principles. By aggregating NFTs, DeFi Protocols, and Smart Contracts, Binocs simplifies financial management for crypto investors.

Expansive Platform Capabilities

Binocs supports over 300 exchanges and 50 wallets, alongside NFTs and Smart Contracts. It offers essential tools for compliance, accountancy, and portfolio management, catering to both individual investors and enterprises involved in the cryptocurrency space.

Strategic Partnerships and Future Prospects

Earlier this year, Binocs announced a strategic partnership with cryptocurrency exchange BitBns, enabling users to calculate crypto taxes seamlessly. This collaboration underscores Binocs' commitment to enhancing user experience and expanding its service offerings. With the new funding, Binocs is poised to enhance its product development and marketing efforts, solidifying its position as a leader in the crypto tax management industry.

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