Simmple debuts in Mexico promising to ease tax payments

New startup hits the market with an all-in-one accountancy services platform

Simmple debuts in Mexico promising to ease tax payments
Image: Simmple/Facebook
Ler em portuguêsLeer en español

There is a new startup in Mexico and, following a growing trend, it targets a huge but poorly served target audience: small and medium-sized businesses. It is Simmple, an all-in-one platform that integrates billing, accountancy, and payroll management services, among others.

Behind the startup is Andrés Hinojosa, who saw a gap in the supply of accounting and administrative services that help SMBs pay their taxes on time. The problem, according to him, is that accounting services are “not very user-friendly”, even for accountants. Simmple’s goal, as the name already implies, is to simplify this whole process.

READ ALSO: Chilean fintech Xepelin raises $80 million and launches credit service for SMBs in Mexico

“The accounting services industry has fallen far behind. There is little digitization in the industry and little knowledge about quality and fair pricing when hiring them,” says the CEO and founder of the company.

According to Simmple, the government of Mexico has made efforts to increase its taxpayer base and the revenue generated by taxes, and while this has boosted the Mexican economy formality, it has also created a series of problems for taxpayers, who now have to deal with the digital platform of SAT (Servicio de Administración Tributaria, in Spanish). Simmple proposes to do all the tax payments for customers that they would otherwise have to do themselves through SAT’s website.

READ ALSO: Fintech Agrolend nabs BRL 80 million from Valor Capital to become Brazil’s “agribusiness bank”

Hinojosa says that bureaucracy and lack of knowledge about tax procedures are among the main causes of tax evasion in Mexico, so Simmple comes to meet a very real demand. “We have had dozens of clients who have discovered that they were not in the correct tax status, or some who were not even doing their tax returns. This happens because the market is very non-transparent in terms of price and quality of service,” said Hinojosa.

But he adds that Simmple is not intended to “do the work” of the accountant but to offer a complementary solution. “The accountant is reminded of the different liabilities he must fulfill with his client, and the client is helped to improve his communication with his accountant.”

Get the best insights about Latin America market in your inbox