Blockpit joins 500 Startups’ first blockchain accelerator

Amongst simply six firms, the Austrian firm has been accepted into the world’s main accelerator 500 Startups as a part of their first ever blockchain batch. Blockpit offers automated cryptocurrency tax reporting and seamless portfolio monitoring.

As conventional enterprise capital companies proceed so as to add blockchain and cryptocurrency initiatives to their portfolio, 500 Startups is zooming in on these initiatives as effectively. For the first time, the accelerator has taken on blockchain startups for an in depth summer time program. One in every of them: Blockpit. The group have already booked their flights and are excited to go abroad to take full benefit of the accelerator’s choices. Whereas being on-site in Silicon Valley they are going to go to unique mentoring lessons and a number of networking occasions. Their stops will even embody Blockshow Las Vegas, one of many greatest blockchain conferences within the US.

Robert Neivert from 500 Startups about Blockpit

Blockpit strengthens world outreach

With acceptance charges of about three % for his or her common batches, 500 Startups is more durable to get into than Harvard. Earlier than being taken on, Blockpit was topic to a radical due diligence screening. “There’s an actual want for crypto merchants to pay their taxes, however it’s virtually unattainable to do it now. Once I noticed that Blockpit had an inexpensive resolution for government-approved tax reporting that was already reside, it was a fantastic cause for me to get them into this system and assist them advance”, says Rob Neivert, enterprise companion at 500 Startups.

That is one step additional in Blockpit’s imaginative and prescient to set a world normal for automated crypto tax reporting. Backed by 500 Startups’ huge community, new alternatives come up to faucet the US market. Previously, Blockpit has efficiently taken half in Huge 4 auditing agency KPMG’s Sensible Begin Accelerator. In the mean time, they’re partnering with Austria’s Federal Ministry of Finance to combine Blockpits’ companies into state-official tax reporting instruments. This could act as a blueprint for governments all around the world to undertake revolutionary applied sciences.

500 Startups alumni embody Twilio, Ripple and 9GAG

Being admitted to 500 Startups, Blockpit joins the ranks of notable firms like Ripple, a worldwide blockchain cost resolution, listed cloud communications platform Twilio (NYSE: TWLO) and social media web site 9GAG. The whole funding portfolio spans over 2,000 startups in 60+ international locations, together with profitable initiatives like GitLab, SendGrid (NASDAQ: SEND) and Wildfire.

Tax reporting instrument blockpit joins the rank of twilio, ripple and 9gag

Whereas on the street for blockchain conferences all through Asia, Blockpit CEO Florian Wimmer has already had the possibility to go to 500 Startups’ branches in Seoul and Bangkok. A chat with the top of 500’s South Korea fund, Tim Chae, has left him much more impressed in regards to the intensive alternatives the enterprise capital agency and its accelerator can provide for Blockpit. At present, the corporate is conducting a 3 million Euro personal sale of its TAX utility token by way of

About Blockpit

Blockpit is a seamless, automated web-based and cell cryptocurrency tax reporting and portfolio monitoring software. Blockpit makes use of APIs of quite a few exchanges equivalent to Binance, Coinbase, Poloniex, Kraken and plenty of extra to hyperlink them up with its companies. The imaginative and prescient is to permit Blockpit customers to routinely mix all their trades, wallets, mining rewards and different incomes equivalent to airdrops into one dashboard. The dashboard offers a transparent overview on what was realized in positive aspects to report back to tax authorities. Blockpit additionally permits its dashboard customers to generate tax studies which could be legally permitted by one of Blockpit’s companions.

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