QuickTax Accounting
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Date of Foundation
01.08.2024

QuickTax Accounting

Revolutionizing UAE's SME Accounting with AI

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The Idea origin story

Our startup, QuickTax Accounting, is a game-changer for SMEs in the UAE. We offer an AI-powered accounting platform that automates invoice processing, enabling senior accountants to focus on complex cases while ensuring routine bookkeeping is handled with precision. Our solution promises compliance, accuracy, scalability, and cost efficiency—all benefits we pass onto our clients. Say goodbye to missed deadlines and fines from UAE regulatory ignorance and hello to affordable accounting options. Our clients can even secure loans without leaving our platform.

The Mission

We revolutionize SME finance with a platform that delivers consistent results, actionable insights, and automated access to funding—beyond individual accountants.

Clients

Targeting UAE SMEs (≤20 staff, ≤200 txns/mo): mostly new owners without accountants, can’t afford outsourcing, struggle with rules—seeking stress-free compliance and avoiding heavy fines.

Problems we solve

Client’s problem

SME owners in the UAE face constant stress: rules change often, fines are huge, and even with 0% tax the paperwork never ends. Closing a company also requires compliance. Owners don’t know what must be done, how to do it, or how to get it done. Accountants are costly, outsourcing is unreliable, and founders lack time or expertise—leading to fines, frozen licenses, and lost focus.

Confirmation of problem

The prevalence of UAE SMEs facing substantial compliance issues and fines signals an urgent need for a reliable, affordable, AI-driven accounting solution.

Solution

Our solution is to provide an AI-powered accounting platform tailored specifically for SMEs in the UAE, enabling them to easily navigate through complex regulations and compliance procedures. This relieves them from the stress of potential fines, frozen licenses and distractions, allowing them to

Our technologies

This solution is based on technologies

Artificial Intelligence, Machine Learning, Cloud Computing and Data Analytics technologies are foundational for our startup.

How it works

Sign up, upload docs, and follow your auto tax calendar. Each month upload invoices, we prepare & file VAT/Corporate Tax. Get alerts, corrections, and expert support year-round.

Value for the client

We deliver automated, error-free accounting for UAE's SMEs ensuring compliance, reducing fines and providing stress-free access to funds.

Market and strategy

Market size

180

mln/year

We estimate the market size for which our solution is designed in monetary terms as follows

Market share goal

30%

% of the market

Is our goal in the next 3 years

Team

My name’s

Alexandra

My key role in the product

As a Growth Lead in our startup, I'm responsible for driving the expansion from hundreds to thousands of customers and entering new markets.

Team size and key members

Our team comprises Leo Anikin with 18 years in B2B and tech contributions at Microsoft, Mila Prasol brings 15 years of expertise in accounting outsourcing, and Max Rudenko adds his 7-year experience in product management. Their combined skills provide a robust foundation for our startup’s growth for the long term. Our diversified talents enable us to solve complex industry issues effectively.

Competitors

Competitors

Movingo and M&M are manual and costly. Sol.online, Kitaab.ai, and Mazeed look digital but rely on outsourced accountants. Global tools like Zoho and QuickBooks are DIY, leaving compliance on owners. QuickTax stands out as the only AI-first platform built for UAE SMEs ≤20 staff, automating routine tasks and ensuring affordable, stress-free compliance.

Our Advantages

QuickTax is AI-first for UAE SMEs ≤20 staff. Routine accounting & tax are automated; experts handle edge cases. Flat AED 6,000/yr. Auto tax calendar, on-time VAT/Corporate filings, free resubmissions if rejected, a fines-paid guarantee, and expert chat.

Business model

Monthly bookkeeping subscriptions (AED 299–1,799+, tiered by transactions) plus one-off fees for VAT/Corporate Tax registration & filings, audits, consultations, and record restoration.

Traction

Over the past six months, our AI technology has revolutionized accounting tasks achieving almost total automation. This resulted in a streamlined UX with quicker turnarounds and an unprecedented scalability, reserving expert intervention for unique challenges only.

We've successfully onboarded 1000 customers, demonstrating significant progress and the market's acceptance of our solution.

Metrics

Over the past 3-12 months, we've increased our monthly active users to approximately 100 in the UAE market with a strong retention rate of around 80%. We're proud that lifetime value outweighs customer acquisition costs by more than twofold. Admittedly, while expanding into new segments (our growth focus currently), CAC is comparatively steeper yet expected to decrease as we scale up and optimize efforts. Isolating these tests from calculations would show us inching towards break-even.

Incorporation

Our company incorporated in

UAE

Key risks

Primary risks include notable market competitors, possible regulatory changes in UAE's financial sector, getting SMEs to adopt new accounting technology, and potential technical issues with our AI system.

Investments

$

0

We raised investments

Our Investors

Angel investors, we are also looking for their contacts with banks (potential partners to offer loans to our customers) and their expertise in the UAE businesses

Rising Investments

$

1000000

Currently, we are raising investments

$

Estimated pre-investment valuation of the company

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We’re looking for a co-founders

Open positions

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Additional information

QuickTax Accounting
Growth
Date of Foundation
01.08.2024