London- and New York–based startup Outpost, which develops software to help businesses manage payments, taxes and compliance when selling across borders, has raised $17.5 million in a Series A funding round led by Ribbit Capital, as Vestbee was told.
- Launched in 2023 by Will Mahon-Heap, Outpost develops software that handles payments, tax compliance, and legal liability for companies selling digital products and services across borders. The platform acts as a “merchant of record,” meaning it processes payments through its own local entities in different countries while taking responsibility for taxes such as VAT, GST, and sales tax.
- According to the startup, its system monitors more than 20,000 indirect tax jurisdictions and applies the correct tax treatment and customs classification automatically for each transaction. The company says routing payments through local acquiring infrastructure can increase approval rates by about 10% and reduce processing costs compared with traditional cross-border card transactions.
- Outpost reports that its tools are already used by merchants operating across Europe, North America, Latin America, and Asia, including subscription platforms, software companies, and cross-border e-commerce businesses that accept payments in dozens of markets and more than 100 countries.
Details of the deal
- The Series A round was led by Ribbit Capital, with support from existing investor Better Tomorrow Ventures and angel investors including executives from Revolut, Uber, Affirm, Airwallex, and Checkout.com.
“Outpost’s rapid growth is a testament to the world-class team they have assembled and their ability to absolve merchants of operational complexity. While other players are building incremental tools, Outpost has attacked the problem with a full stack model that other providers simply can’t match. We are incredibly excited to continue supporting Outpost as they coordinate the economic, administrative and regulatory rails that redefine global trade," claims Nihar Bobba, Partner at Better Tomorrow Ventures.
- Outpost plans to use the new funding to accelerate product development, expand its coverage into more global jurisdictions, and increase headcount as demand for cross-border commerce infrastructure grows. The company aims to further develop its AI-powered platform while scaling operations to support more merchants selling across Europe, North America, Latin America, and Asia.
