Business
Perth-based SavvyWise valuation hits $27.5M as accountants back AI tax platform’s $1.56M crowdfunding raise
In equity crowdfunding, Perth-based SavvyWise has raised $1.56 million at an uplifted valuation of $27.5 million (up from the previous $22.5 million). Accounting contributed half of the raised capital as 469 investors rushed in to back the AI tax platform while clients are expanding their technology and service.
Specialist Perth AI tax platform SavvyWise has hit a $1.56 million equity crowdfunding campaign, sending its valuation to $27.5 million. The OnMarket platform ran the raise and saw a total of 469 investors participate.
According to the company, it was the biggest raise in FY26 for AI technology and seventh overall for equity crowdfunding within Australia during the financial year. The current raise brings SavvyWise’s valuation to nearly three times its valuation just days into the new year.
The Funding Round Was Heavily Backed by Accountants
According to SavvyWise, accountants were behind 50% of the money raised in the crowdfunding campaign. The company also announced that 39% of all investors were practicing accountants.
The level of support from accountants is a testament to the demand for tools that are built by and especially for this profession, according to co-founder Drew Pflaum. The expected labour forces of accountants are dealing with constant issues like hiring, lack of agreements and introduction approaches such as Payday Super, Distance KYC needs and determinations declared in this year's federal budget.
Accountants put up an average of $4,575 during the raise, versus a larger overall average investment of $3,321 per individual investor.
Strong investor interest throughout the campaign
Before the crowdfunding round officially opened, SavvyWise said investor demand was already “heavy”. Less than 10 days into the expression-of-interest phase, registered interest already surpassed $2 million.
OnMarket ultimately attracted 469 investors for the campaign. This made it the biggest AI technology crowdfunding raise of FY26, and seventh largest equity crowdfunding raise in Australia this financial year, according to the company.
Growth in Valuation Since January 2026
This crowdfunding campaign follows multiple funding rounds that the company has completed this year. SavvyWise completed a $600,000 seed round in early 2026 and and had post-money valuation of $10 million.
The second round was an extension of an earlier seed, which brought in a higher valuation of $20M for the startup back in April. The extension included some accounting firms which devised commission or strategic alliance firms to further develop AI accounting agents, said Pflaum.
SavvyWise is the most recent company to close an equity crowdfunding raise, valuing the business at $27.5 pre-money. Pflaum said the wire platform considers the crowdfunding effort to be a pre-Series A round.
SavvyWise Platform and Customer Growth
SavvyWise, which was launched in 2025 and designed for Australian accountants to answer complex tax questions with articles cited to support every answer.
Tax research and compliance guidance powered by artificial intelligence Traditional research platforms usually cost between $10,000 and $20,000 per year for accounting firms, Pflaum said. SavvyWise wants to provide an alternative that is faster and less expensive.
Now the company has over 2,000 users across 200 firms and currently counts 113 organisations as its paying customers. In just the past month, the firm said it grew by 25% in both annual revenue and paying firms, SavvyWise.
Investments to Power AI Implementation and Compliance Solutions
Commenting on the funding, SavvyWise said it will use the money to speed up research and R&D of Australia-specific AI models for tax, extend its expert commentary offering & continue developing AI accounting agents.
The platform employs ring-fenced AI, specifically trained with only accredited Australian tax law data, minimises the potential risk of incorrect AI generated responses when used for compliance. They had already hired a senior dev with accounting automation experience for one of the AI accounting agents to be built post crowdfunding round.
Australian businesses faced a $50 billion compliance burden, the former CPA and director of an accounting firm Pflaum said. More than 37,000 accounting firms and some 200,000 accountants around the country provide a market opportunity, he said.
The company said AUSTRAC’s Tranche 2 reforms would extend anti-money laundering and know-your-customer obligations to accountants, increasing compliance pressures. SavvyWise also pointed out users in firms of all sizes have cited accuracy and time savings as major benefits of the platform.
Source: Business News Australia
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