Fintech firm Taxi wins law change on borrowing against provisional tax, reveals numbers

Taxi, a fintech that lets small businesses borrow against their provisional tax balance, has won a key legislative clarification and revealed its lending numbers. The start-up was formed in 2021 in the teeth of the pandemic. Its husband-and-wife co-founders, Josh and Nicola Taylor (owners of Tax Traders) said the Covid economy had restricted borrowing options for many small to medium businesses.

Large companies had the option to borrow against their pre-paid provisional tax, sitting in a Public Trust account, but the process was complex. They founded Taxi to help small businesses navigate it. This week, Nicola Taylor told the Herald that Taxi was running ahead of its targets.



It has now made $107.8 million in funding available at an average of $149,101 per taxpayer. The business has 1246 active users, 723 active taxpayers.

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