iscover SavvyWise raises $1.56m to accelerate R&D on Australian tax-specific AI models
TechnologyTax AI platform SavvyWise has closed its equity crowdfunding raise with nearly $1.56 million from 469 investors, which it said shows the level of interest that accountants want purpose-built solutions, “not a generic AI tool retrofitted to tax”.
Perth-based platform SavvyWise has closed its equity crowdfunding raise, having secured $1,558,006 from 469 investors. This, the platform said, makes it the largest AI technology raise of the 2025-26 financial year, and the seventh-largest equity crowdfunding raise in Australia this financial year.
Half of the total capital raised came from accountants, while 39 per cent of all investors are accountants themselves, with an average investment of $4,575.
In a statement, Savvywise noted that when the people who understand the problem best put their own money in, that tells you something the market is paying attention to.
Savvywise co-founder Drew Pflaum said: “Accountants are exhausted. The profession is facing a staffing crisis, mounting compliance obligations and a wave of regulatory change including Payday Super, AML/KYC and this year's Budget announcements.”
“The level of investment from accountants in their own sector is a clear signal that they want a solution built specifically for them, not a generic AI tool retrofitted to tax,” he said.
SavvyWise launched last year, and now boasts more than 2,000 users across 200 firms, with 113 paying organisations. The platform uses ring-fenced AI trained exclusively on verified Australian tax law, minimising the hallucination risk that makes generic AI tools a liability in compliance contexts.
The capital raised will be used by the platform to accelerate R&D on Australian tax-specific AI models, expand its expert commentary offering, and develop AI Accounting Agents designed to give accountants meaningful time back.
Savvywise’s focus remains “deliberately narrow”, it said: to solve tax research with AI better than anyone else. A first visible step of that focus is underway, with Volume I of the Small Business CGT Concessions expert commentary book, part of The Practitioner's Library, was unveiled at last week’s Accounting Conference and Expo, produced by Accountants Daily in partnership with Savvywise.
Want to see more stories from trusted news sources?Make Accountants Daily a preferred news source on Google.
Jerome Doraisamy
Jerome Doraisamy is the managing editor of Momentum Media’s professional services suite, encompassing Lawyers Weekly, HR Leader, Accountants Daily, and Accounting Times. He has worked as a journalist and podcast host at Momentum Media since February 2018. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of the Minds Count Foundation.