Lettuce Financial is an Israeli fintech startup that offers an automated accounting and tax solution for solopreneurs. The company closed a $15 million Series A funding round led by Zeev Ventures. This comes after the launch of its LettuceHead AI, a free, first-of-its-kind AI-chat bot specialized to answer solopreneurs’ tax and accounting questions.
Lettuce says it was developed by solopreneurs for solopreneurs. Solopreneurs are individuals who start and run their own businesses independently. Unlike traditional entrepreneurs who often build teams and scale their operations, solopreneurs operate as a single entity, handling all aspects of their business from marketing and sales to administration and customer service.
Founded in 2023, Lettuce is an automated tax and accounting product for solopreneurs, contractors and freelancers designed to help them unlock the value inside their businesses. Solopreneurs making $100,000 or more are typically overpaying their taxes by $15,000 each year. Existing products and services are built for bigger businesses, are too complex and require too much manual work for independents to manage without help. Accountants rarely have expertise on taxes for independents, or the willingness to serve them well.
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The future of work is freelance, with a staggering 50% of professionals expected to go solo by 2027 explained Lettuce. Since the pandemic, the number of full-time freelancers has surged by 91%, and high-earning solopreneurs have seen their incomes grow by 53%. Yet, despite this booming trend, solopreneurs have often felt overlooked. Lettuce, founded, built, and funded by fellow solopreneurs, understands the unique challenges you face. That’s why we’ve created a platform designed to empower you with the tools to optimize your business taxes, giving you more time to focus on what you love.
“Businesses run by solopreneurs represent more than $200 billion in unmanaged, unpredicted, and unoptimized taxes, and although they are key contributors to the economy, solopreneurs have little guidance on how to approach and manage their businesses accounting and taxes. We are democratizing the world of taxes and accounting for solopreneurs and aim to put at least $50 billion back into business growth by helping them navigate the tax system and implement accounting strategies tailored to their business needs,” said Ran Harpaz, founder and CEO of Lettuce Financial.
