OnlinePajak Claims Unicorn Status, Is that How Big the Market Size?
The global tax management software market size was $5.24 billion in 2018, projected to increase to $11.19 billion by 2026
Tax management focused SaaS startup for business "OnlinePajak" claim its "unicorn" status. It was directly mentioned by the executives at a media meeting, as quoted by Katadata.
Previously, news about the unicorn status emerged from CBInsights. However, it is known that currently (14/10) CBInsights has removed the name OnlinePajak from the list.
We have tried to ask related parties on this matter to the company, including the company's latest funding round [if any]. Until this publication, we have received no feedback. We tried asking one of the investors, however, there's no comment on the unicorn status.
Based on data submitted to the regulator, OnlinePajak's last funding round was the Series C round in July 2021. Tencent and a series of investors poured around $12 million, raise the company's valuation to $179 million -- 1/10th of what it claims to be a unicorn startup.
The company's also backed by popular investors such as Alpha JWC Ventures, Sequoia Capital India, Endeavor Catalyst, and several others.
We actually have included OnlinePajak on the Centaur list since last year, which marks the company's milestone reaching a valuation of over $100 million.
Currently, OnlinePajak services are divided into three main product categories: Invoice, Payroll, and Others. In the Invoice sub-service, there are various features such as calculating/depositing/reporting VAT and PPh, making withholding books, invoices, NPWP validation, and others.
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