Zasta receives 60 million euro loan

The tax app is using the capital to finance a new function that allows users to receive 75 percent of their tax refund immediately.

The tax app Zasta is receiving a credit line of 60 million euros from Vereinigte Volksbank, according to Finance Forward reports. This will enable the start-up to finance a new service. In future, Zasta customers will receive an immediate tax payout of 75% of the calculated tax refund.

"This solves the biggest pain point for our users and will help millions of employees receive a quick cash injection in the future," writes founder Michael Potstada on Linkedin. "Especially in times of recession and inflation, many people could really use this," says the founder.

Founded in 2017, the tax consultant platform helps users to prepare their tax returns digitally. The fintech has raised around 4.3 million euros to date. The investors involved include investor Anyon, business angel Uwe Schimmelschmidt and Mittelständische Beteiligungsgesellschaft MV.