Crypto tax reporting app Binocs raises $4 mn in seed funding for expansion

Company enables crypto investors to manage accounting and compliance to local laws

Binocs, the cryptocurrency taxation platform, has raised $4 million in seed funding led by Beenext along with Arkam Ventures, Accel, Saison Capital, Premji Invest, Blume Ventures, and Better Capital.

Binocs, which is launching its portfolio-tracking platform in the US, UK, South Africa, and Australia, said it will use the funding to expand its product, engineering, growth, and marketing teams.

“At a time when the various regulations around crypto tax are causing apprehension amongst crypto investors, we at Binocs are on a mission to leverage our state-of-the-art technology platform to ease the crypto taxation journey for investors. In essence, Crypto is