Meet Found. All-in-one business banking, bookkeeping, and tax tools for self-employment.
Now more than ever, the way people work is evolving. Increased adoption of tech-enabled marketplaces, platforms, and business-management tools have paved the way for new, creative ways to jump-start self-employed businesses. And while the COVID-19 pandemic accelerated this trend in 2020, the shift to self-employment is nothing new.
Today, 60 million Americans (over a third of the US workforce) are self-employed, meaning they earn income independent from a traditional employer. By 2028, it is estimated that more than half of the total US workforce will freelance full or part-time.
From architects to artists, creators to coders, and stylists to therapists—the self-employed span every career category. Those who work for themselves benefit from the emerging trends that have made it more accessible to operate on their own terms. On the flip side, unfortunately, most freelancers have yet to see meaningful innovation to help with the cumbersome management of their self-employed finances and administrative tasks take up a frustratingly large portion of their time.
The burdens of self-employment
While self employment has great benefits, it also comes with expensive, time-consuming, and stressful financial burdens.
When you earn income through an employer, you get a spendable paycheck deposited directly into your bank account on payday. Your employer handles tax withholdings and tax payments, so you don’t ever have to worry about having a large surprise tax bill at the end of the year.
When you earn income independently, however, you are responsible for calculating how much you owe in taxes every time you get paid, setting aside funds so you have enough to cover your upcoming tax bill, and making quarterly tax payments to avoid fines.
It doesn’t stop there. Self-employed people have a more complicated tax return to file and need to keep diligent records for all income and business expenses, too. Without traditional paystubs, self-employed individuals must meticulously track and maintain financial statements for proof of income.
Put simply, the life of a self-employed person includes many hours spent filling out forms, navigating complicated tax requirements, and stressing over deadlines. We often hear that while people love being able to work for themselves, the administrative tasks are an unexpected and unwelcome part of being self- employed and can take hundreds of hours a year. To help solve the problem and free up their time, some turn to expensive bookkeepers and CPAs to help them navigate the messy requirements - often paying upwards of $4,000 a year.
While record numbers of people pursue self-employment, self-employed bookkeeping & taxes remain as difficult as ever.
We built Found because we believe self-employed individuals deserve a better tool set. Our goal is to save self-employed people time and money, giving them energy back to do what they truly love: run their business.
Found is the only business bank account that handles self-employed bookkeeping and taxes. With Found, income and expenses are tracked automatically, and tax reports are generated in real time. There is no need for external bookkeeping software, or to track expenses in spreadsheets. Found automatically generates critical documentation, including the Schedule C report, with tracked income and expense data, making staying on top of taxes easy.
Our customers love that with Found all of their business information is in one place, and they don’t have to worry about having clean records for bookkeeping or knowing what they’ll owe in taxes.
Best All-in-One Banking
This is one of the best Banking apps that I’ve come across for your business. The ability to save and pay your taxes as well as keeping track and having an up to date Profits & Loss form already set to go makes this the best all-in-one business banking apps around.
This app is amazing, it has solved my tax worries... no more spreadsheets, not knowing want I owe, surprise tax bills etc...highly recommend!
It’s a 10/10 for me
I just started with Found and I couldn’t be more happier with my business banking solution that they provide. Very easy and simple to sign up and I also really like the automatic tax and savings program. It’s a 10/10 for me
We are excited to announce that we’ve raised a Series A round of $12.75 million led by Sequoia Capital, bringing our total funding to $15.2 million. We’re thrilled to have Alfred Lin and Josephine Chen from Sequoia join the team. We will use these new resources to bolster our efforts to help self-employed people successfully navigate the challenges of working independently - starting with business banking, expense tracking, and saving for taxes.
We started Found because we believe in the power of self-employed people and we have never felt more confident in that vision. We would not be here without the early support and ingenuity of our first customers and partners. We’ve listened and learned from the self-employed community and built Found with them in mind every step of the way. As we embark on this next chapter, Found remains committed to helping self-employed people thrive.