RAQUEST, a leading provider of withholding tax technology solutions for financial institutions, announced a capital increase as part of an extensive financing round. This step underpins the company’s continued growth and supports the consistent execution of its 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.
