AnchorZero, a NYC-based platform enabling founders to leverage Roth IRAs for tax savings and financial growth, raised $8M in Seed funding.
The round led by Bain Capital Crypto and Spark Capital with participation from Ethereal Ventures, Mischief Capital, Pascal Capital, Robot Ventures and angel investor Sarah Meyohas.
Led by Sunil Abraham and Diana Siu, AnchorZero provides a flagship product that simplifies the process of transferring startup equity into Roth IRAs, unlocking potentially hundreds of millions in tax savings and facilitating tax-free compounding of gains. Holding equity within a Roth IRA offers significant tax advantages, as any gains realized upon exit are shielded from capital gains taxes, and these initial gains can be reinvested to grow tax-free.
AnchorZero allows founders to include their shares, angel investments, or exotic assets in their Roth IRAs for significant tax savings and financial growth. Customers include founders backed by leading investors such as First Round Capital, General Catalyst, HF0, Lightspeed Venture Partners, and Y Combinator.
This funding has enabled AnchorZero to establish a chartered trust company and to accelerate the development of additional tax-focused products for founders and employees. The establishment of a chartered trust company allows AnchorZero to act as an IRA custodian, ensuring that it can manage customer assets with a higher degree of safety, speed, and regulatory compliance compared to other fintechs. The charter is regulated by the South Dakota Division of Banking.
FinSMEs
25/06/2024