FiveT Fintech Participates in Follow-On Financing Round for Portfolio Company RAQUEST
Zurich, Switzerland / Rosenheim, Germany, FiveT Fintech is pleased to announce its participation in a financing round for RAQUEST, a leading provider of withholding tax technology solutions for financial institutions. The follow-on investment underscores FiveT Fintech's continued conviction in RAQUEST's growth trajectory and supports the consistent execution of the company's business strategy.
RAQUEST's strategy is built on three pillars: The fintech is investing in its existing product portfolio, with a clear focus on leveraging the latest technologies such as artificial intelligence and cloud-based SaaS architectures. In addition, RAQUEST is significantly expanding its product development activities in the field of tax reporting, with a strong emphasis on upcoming regulatory initiatives such as MiKaDiv and EU FASTER. The company aims to further scale its business by driving international expansion and strengthening its role as a thought and technology leader in the global tax market.
The capital raise, supported by RAQUEST's shareholders, including FiveT Fintech, provides the financial foundation for the implementation of its business strategy and reflects strong confidence in the company's long-term growth prospects.
"This strong investment is a key driver of our mission to provide all financial institutions involved in the payment chain with integrated solutions to fully digitize withholding tax processes," says Alexander Lerch, Co-Founder and CEO of RAQUEST. "This capital enables us to consistently pursue our ambition of becoming the leading international fintech company in withholding tax management."
"Since RAQUEST's spin-off from the Halvotec Group in 2021, we have had the privilege of supporting the company's development into a leader in withholding tax management. We are pleased to continue backing the team as they further expand the product offering through this additional financing round," comments Alexander Christen, CEO of FiveT Fintech.
About RAQUEST
RAQUEST is a leading fintech company specializing in withholding tax management for financial institutions. As part of the Halvotec Group, RAQUEST has been providing innovative software solutions for the efficient processing of withholding taxes for over 15 years. RAQUEST enables financial institutions to meet regulatory requirements, increase efficiency, and reduce costs while maximizing investor returns. The modular B2B software supports all common tax relief procedures and has established itself as the market leader in withholding tax processing with a customer portfolio of renowned financial institutions.
About FiveT Fintech
FiveT Fintech is a Zurich-based venture capital firm investing in Series A+ B2B software companies serving financial services and adjacent enterprise verticals across Europe. The firm employs a demand-driven investment approach, working with leading European financial institutions to validate opportunities and execute off-market transactions.
For further information: raquest.tax
Contact for Media Enquiries:
Franziska Medhin
Senior Marketing Manager Content & PR
RAQUEST GmbH, Deutschland
franziska.medhin@halvotec.de