Solving tax for small businesses
www.getmika.de
At A Glance
<aside>
⚠️ Problem: Small businesses are deeply entrenched in bureaucracy, with 90% of founders feeling heavily burdened by bureaucratic tasks. They spend an average of 350 hours per year on such tasks, including taxes, and 70% are lacking proactive advice from their tax advisors.
</aside>
<aside>
💡 Solution: mika is a digital tax advisor for small businesses. And when we talk about tax advisory, we really mean advisory - not just accounting and filings. The knowledge required for this advisory is already within the business’s financial data; the challenge has been extracting and utilizing these it effectively. That's where mika comes in, using AI to unlock and apply this knowledge and present it in an understandable way.
</aside>
<aside>
📈 Business Model: mika's revenue comes from a monthly accounting subscription model, ranging from €125 to €1,105, a share of the annual tax advisory revenue between €200 and €1,500 per client, and additional premium feature charges of €19,90 to €80. This strategy leads to an estimated Customer Lifetime Value (CLV) of about €44,147 per customer.
</aside>
Highlights:
- Huge Market Opportunity: Tapping into the expansive €50bn accounting and tax services market in Germany with the potential to scale internationally.
- Addressing a critical need: Focusing on the indispensable need for tax and accounting, positioning mika as an essential partner for every small business.
- Significant Traction: Successful MVP launch, early business adoption, first recurring revenues, confirming strong market fit and potential.
- Innovative 'Tax Advisor as a Service' Approach: Partnering with a premier tax advisory company, leveraging their expertise to provide the necessary human element in our comprehensive service.
- Technological Edge: Utilizing cutting-edge AI and machine learning to not only streamline efficiency but also to unlock deep insights from accounting data.
- Attractive Revenue Model: Focused on long-term contracts, monthly recurring revenue, and low customer acquisition costs for sustained growth.
- Badass Founder: Led by an ambitious and resilient entrepreneur skilled in fintech, AI, and product development, with a track record of bootstrapping and successfully exiting a company. exactly as it is
- Funding Goals: Seeking to raise a pre-seed round to significantly boost technological capabilities and expand our team.
Short Pitch Video