Gelt, an innovative tax firm designed specifically for high-net-worth individuals and rapidly growing businesses, has recently announced the completion of a $13 million Series A funding round. This brings the company’s total funding to $21.2 million. The Series A funding was led by Zvi Limon of the Rimon Group, with strategic participation from Vintage Investment Partners and TLV Partners. In connection with this financial milestone, Gelt has appointed Yoram Tietz, the former Managing Partner at Ernst & Young and currently a Senior Advisor at General Atlantic, to serve as the Chairman of the Board.
Since its inception five years ago, Gelt has demonstrated remarkable growth, tripling its user base annually. The firm has helped clients achieve substantial tax savings through its advanced AI-powered platform coupled with the expertise of its certified public accountant (CPA) team. The company has significantly improved its profit margins, rising from a historical average of 20-30% to an outstanding current range of 55-66%, a feat that is exceptional within the service-oriented sectors.
What sets Gelt apart from traditional tax firms is its unique approach to tax strategy. While most firms focus primarily on annual tax filings, Gelt leverages its proprietary AI technology to continuously scan the tax code, applying relevant insights on a client-by-client basis. For example, when Gelt’s system detected that one of its venture partners was overpaying taxes due to a conventional W-2 salary structure, the firm quickly restructured the partner’s income through an S-Corporation model.
This strategic pivot not only minimized payroll taxes but also unveiled federal deductions that saved the client more than $100,000 in a single tax year. By identifying such opportunities in real time, Gelt allows its CPAs to dedicate more time to developing long-term strategies, while clients experience immediate, tangible benefits.
The latest funding round will enable Gelt to enhance its platform further and support its ambitions for market expansion. One of the company’s key goals is to triple its workforce by recruiting top-tier CPAs, software engineers, and client experience professionals to strengthen its capabilities and service offerings.
Gelt primarily serves a diversified clientele that includes technology executives, healthcare entrepreneurs, real estate investors, and leaders in financial services. These professionals often find themselves navigating complex financial landscapes that require far more sophisticated and tailored tax strategies than traditional firms can provide.
The Series A funding round was led by Zvi Limon, a seasoned investor and co-founder of both the Rimon Group and Magma Venture Partners, who also serves as Chairman of Taboola. This round saw participation from Vintage Investment Partners, a significant player with over $4 billion in assets under management, and TLV Partners, which manages a $1 billion early-stage fund. The collective expertise and resources of these firms offer Gelt robust strategic advantages as it moves forward.
With this funding round, Gelt plans to roll out advanced features such as estate planning integration, multi-state tax capabilities, and predictive tax modeling tools designed to aid clients in making informed financial decisions. The company is actively recruiting experienced senior CPAs to bolster its team while also expanding its reach into critical markets, including real estate, healthcare, and financial services. By strengthening its workforce and service offerings, Gelt aims to redefine the tax consultancy landscape for high-net-worth individuals and scaling businesses.
KEY QUOTES:
“Most successful individuals and businesses are stuck with once-a-year tax scrambles that miss opportunities all year long. We’ve built the first tax firm where AI handles the complex analysis so our elite CPAs can deliver a proactive strategy that saves clients significant money and removes the compliance burden entirely.”
Tal Binder, founder and CEO of Gelt
“Tax advisory has been stuck in an outdated model, but Gelt proved there’s a better way. Instead of selling software to accountants, they rebuilt the entire service model with AI and expertise working directly for clients. The results speak for themselves.”
Shahar Tzafrir, Managing Partner at TLV Partners, who led Gelt’s seed round and participated in this Series A
“Gelt combines advanced AI with licensed expertise to modernize how successful individuals and businesses approach taxes. They’re transforming taxes from a reactive cost into a proactive growth driver.”
Yoram Tietz, new Chairman of the Board
