Düsseldorf-based software as a service (SaaS) platform Steuerboard has raised €725,000 (US$775,750) in a pre-seed funding round to further its product development and expand its presence in the German market.

Founded in 2023, Steuerboard aims to mitigate staffing shortages in tax advisory firms by automating routine data processes and improving communication.

The platform integrates with existing systems to streamline workflows and use AI for routine decision-making.

The funding round was led by High-Tech Gründerfonds (HTGF), with contributions from SuperAngels Fund and entrepreneur Roland Fassauer.

Steuerboard plans to allocate the funds towards growing its engineering and customer success teams, enhancing its AI-driven workflows, and expanding operations throughout the DACH region.

🔗 Source: Tech.eu

🧠 Food for thought

1️⃣ AI adoption addresses critical talent shortages in tax advisory

Steuerboard’s focus on automation addresses a widespread issue beyond just Germany, as talent shortages are driving technological innovation across the global tax sector.

AI adoption in tax practices is accelerating, with 87% of tax professionals believing generative AI will improve team effectiveness and efficiency within three years 1.

The industry is seeing a strategic pivot where professionals are using AI to handle routine tasks, allowing human experts to focus on higher-value advisory work that attracts and retains talent 2.

This transition is particularly crucial in markets like Germany, where an aging workforce and specialized knowledge requirements create significant staffing challenges for tax advisory firms.

Tax firms are diversifying recruitment efforts and using AI tools to help new hires acquire necessary skills more quickly, demonstrating how solutions like Steuerboard fit into a broader industry transformation 1.

2️⃣ Legacy systems create substantial modernization opportunities

The €725,000 investment in Steuerboard reflects a larger pattern where outdated tax infrastructure creates market opportunities for nimble, modern solutions.

Government tax systems often rely on severely outdated technology. For example, the IRS’s core tax processing system is nearly 60 years old and written in Assembly language, which few programmers can maintain today 3.