Adsum
Founded 2019 · 28 employees on LinkedIn · 7 known investors
Adsum builds AI-enabled tax technology and financial products for businesses, accountants, and finance professionals. Its OpenTax platform consolidates VAT, PAYE, Corporation Tax, and Self Assessment data from HMRC into a single dashboard, giving accountancy firms portfolio-wide visibility of client tax positions, filings, and liabilities in the UK.
Also known as Adsum Works
Founders & leadership
Adsum was founded in 2019 by Justina Tartilaite.
Investors · 7
Also in the syndicate · 3
Company profile
researched Aug 2026Adsum is a London-based provider of cashflow solutions built around UK tax receivables. The company calculates and advances funding against amounts businesses are owed by HMRC, including VAT refunds, Creative Industries tax credits and R&D tax credits. Its in-house technology auto-calculates VAT, R&D and creative industries tax credits and refunds, which the company states removes the need for tax consultant work.
Once a receivable is calculated, Adsum provides a credit line that customers can draw against, which is subsequently repaid out of the customer's tax credits and refunds. According to the company, capital can be provided in as little as twenty-four hours.
Founding story
Adsum was founded in 2020 by Justina Tartilaite and Freddie Digby. Ben Rodgers and Shreeya Arora joined the founders soon afterwards to build out the technical and product teams respectively.
Business model
Adsum advances capital against UK tax receivables, providing customers with a drawable credit line that is repaid from the tax credits and refunds those customers receive. Funding capacity is supported by credit facilities established with institutional credit investors alongside equity capital.
Latest developments
In May 2022 the company announced $5M in funding led by Episode 1 and Digital Horizon, following credit facilities arranged with institutional credit investors in late 2021.
▸Full profile — technology, go-to-market, geography, history
Technology
The company operates an in-house technological solution that automatically calculates VAT, R&D and creative industries tax credits and refunds, and underpins the speed of its advances.
Go-to-market
UK businesses with tax receivables due from HMRC, including companies claiming VAT refunds, R&D tax credits and Creative Industries tax credits.
Geography
Headquartered in London, United Kingdom, with a focus on UK tax receivables.
History
Founded in 2020, Adsum established credit facilities with institutional credit investors at the end of 2021 and announced a $5M equity round in May 2022 led by Episode 1 and Digital Horizon, with participation from D2 and angel investors from London and New York.
Compiled by commissioned research from 4 cited public sources — announcements, filings, and press listed under research sources below.
Timeline · 2
launches, deals, and filingsThe London-based tax receivables financing company raised $5M in a round led by Episode 1 and Digital Horizon, with participation from D2 and angel investors from London and New York.
$5M source ↗
Ahead of its equity round, Adsum set up credit facilities with institutional credit investors at the end of 2021, in addition to the $5M raised.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 4
primary sources listed
- Adsum Raises $5M in Fundingfinsmes.com · web
4 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Adsum do?
- UK company that calculates and advances funding against business tax receivables such as VAT and R&D tax credits.
- Who founded Adsum?
- Adsum was founded by Justina Tartilaite in 2019.
- Who are Adsum's investors?
- Adsum's investors include Digital Horizon, Digital Horizon VC, Double Down, Episode1.