Divly, a tech company that simplifies tax declarations for cryptocurrency investors, has raised $400k in a funding round from DHS Venture Partners, Greens Ventures and YEoS Ventures. Despite being required by law to declare their cryptocurrency to tax authorities, less than 1% of investors globally have done so.
Divly’s service makes it easier for investors to manage their crypto declarations in a few clicks, simplifying the process of determining what must be declared for each transaction.
Founded in June 2021 by Carl Gärdsell and Ruben Rehn, Divly has partnered with major players in the crypto industry such as Coinmotion, Safello, BYDFi, and Coingecko. The company has expanded its service internationally to all Nordic countries, the Netherlands, Japan, and Germany, and aims to make crypto tax declarations accessible to all investors.
Divly’s CEO and Founder, Carl Gärdsell, believes that there is ‘a big problem in declaring crypto’ and Divly will make it easier.
According to Carl, Determining what a crypto investor must declare for each transaction can be overwhelming and time-consuming.
The cryptocurrency market has had a tumultuous year, with increased regulation and scrutiny from authorities. The introduction of MiCA and the DAC8 proposal will result in tighter cryptocurrency regulations, requiring exchanges with users in the European Union to share client information with tax authorities by January 2026.
Divly’s service aims to make it easy for investors to comply with these regulations, as well as to backtrack and account for their transactions if necessary.
Divly’s recent successful funding round positions it for further growth and expansion to more investors worldwide.
Gärdsell emphasizes the importance of procedures and processes for authorities to deal with tax issues, as transactions on the blockchain are not anonymous but pseudonymous. He believes that most people want to do the right thing but may not know how, and that Divly’s service provides a simple solution.