Finupp

growth-positive

Meitav Dash Investments Ltd. is acquiring fintech startup Finupp for an estimated NIS 5 million ($1.5 million). Finupp developed a digital platform for employees to file tax return applications and claims to have 178,000 clients. The acquisition is seen as a growth-positive move for Finupp, which experienced a surge in users following Covid-19 mass furloughs. The platform provides users with a free eligibility test for tax refunds and charges them only after they receive the refund. Meitav Dash believes that the increase in Finupps earnings was accelerated by the Covid-19 effect, but they estimate that the product can succeed regardless.

growth-positive

Finupp Ltd. is a company that provides a user-friendly and cost-effective solution for obtaining tax refunds. The company has developed a cloud-based platform for financial and accounting data management. It uses an accounting algorithm to analyze transactions and provide tax advice to clients. Finupp focuses on tax refunds for mortgage insurance and life insurance, but plans to expand to other financial niches. The platform is free to check tax refund eligibility and charges a fee of NIS 195 per application. To date, Finupp has helped 11,000 people obtain over NIS 1 million in tax refunds. The company aims to expand to other locations, such as the UK, India, Australia, and Africa. The founders see potential for offering additional financial services beyond tax refunds.