October 24, 2020

The digital thread for the self-employed in the accounting maze


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Stating was born in 2016 with the aim of helping the self-employed to pay less taxes and save time in managing their business. Founded by three Spanish entrepreneurs, This online tax advice platform already has 70,000 users, mainly self-employed workers who work with a computer every day, such as architects, lawyers or computer scientists, although it is true that, as a result of the pandemic, they have noticed an increase in professionals linked to more traditional sectors.

«The self-employed man makes his sales invoices, records his income, presents his taxes and optimizes his income statement. In addition, you can analyze an expense 24 hours a day, you know how much you are going to pay in taxes in real time or you can see the impact of a new income on the income of the following year ”, he highlights Vicente Solsona, co-founder of the firm, which has 50 employees distributed between its headquarters in Castellón and Valencia. The company has chosen to implement a freemium subscription model.

The free version gives access to the module to make income invoices and to a simplified version of the tax presentation. “It is a simple alternative for freelancers who file their taxes directly on the complicated Treasury website and do their invoicing with Excel,” says Solsona. For the fastest growing businesses, recommend a payment plan: “The most popular costs 69 euros per month and includes the use of the platform and the help of a specialized advisor.”

Declarando has two offices, in Castellón and Valencia, and a staff of 50 workers

As indicated by the company, the self-employed save between 1,000 and 5,000 euros per year depending on your income level. In addition, they are also specialized in online freelance registration. “We are capable of registering with the Treasury and Social Security in less than two days,” they detail.

The group they are targeting has been one of the most affected by the restrictions adopted to stop the pandemic, something that has affected the activity of Declaring. “The year started very well, but during the confinement we lost a small part of our clients, who closed their businesses”, laments Solsona. A hard blow from which they have managed to recover. “Now it seems that the market has stabilized and in recent months we are already growing around 10% per month,” he says.

The company plans to make the international leap, although their plans to disembark in Mexico, scheduled for the end of this year, have had to be postponed to 2021 due to the coronavirus. Meanwhile, they will continue to focus on reaching more self-employed workers in the national territory. “Since the virus arrived, we have seen that thousands of freelancers are beginning to manage their businesses with online billing, accounting and tax programs, but there is still a long way to go,” recalls Valentín.

Declaring you have received so far 2.7 million euros in two rounds of financing. The first, of 500,000 euros, was contributed by Sabadell Venture Capital, Encomenda and Fundación Bankinter. The second, for an amount of 2.2 million euros, was led by JME Ventures, with the participation of Encomenda Smart Capital, Fundación Bankinter and Sabadell Venture Capital.

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