SavvyWise Closes $1.56 Million Crowdfunding Raise, Backed By Accountants

Perth-based tax research platform, SavvyWise, has closed its OnMarket equity crowdfunding campaign, securing $1,558,006 from 469 investors. The raise is the largest AI technology equity crowdfunding raise of the 2025–26 financial year, and the seventh-largest equity crowdfunding raise in Australia over the same period.

Accountants accounted for 50% of the total capital raised, and 39% of all investors were accountants themselves. A platform for accountants, backed by accountants, suggests strong product-market fit.

SavvyWise launched in September 2025 and has since grown to more than 2,500 users across over 200 firms, with 113 of those organisations paid subscribers. The platform runs on ring-fenced AI trained exclusively on verified Australian tax law, minimising the hallucination risk that makes generic AI tools a liability in compliance settings.

“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,” said co-founder Drew Pflaum. “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.”

The campaign closed during a notable week for the sector. The Australian Accounting Awards were held in Sydney last Friday, with SavvyWise as a Platinum sponsor and having also served as Principal Sponsor of the Accounting Conference and Expo earlier that day.

At the ceremony, Kylie Thompson, Managing Director of Sorrento Strategic Accounting and winner of the Public Accountant of the Year award, addressed the audience from the stage about the pressures facing the profession. Thompson, who is a WA Divisional Councillor for CPA Australia, told the room she had no idea how she had made it through the year without burning out. She pointed to the role AI will play in giving accountants their time back. Multiple award winners echoed the sentiment, acknowledging they were unsure how they would manage the volume and complexity of the year ahead.

That helps to explain why so many accountants chose to invest rather than simply subscribe to the product. Sorrento Strategic Accounting has been a subscriber since SavvyWise first launched paid subscriptions, and last month formalised a Strategic Alliance with the company to develop AI Accounting Agents for the profession — an initiative central to SavvyWise’s plans for the new capital.

SavvyWise plans to use the funds to accelerate R&D on Australian tax-specific AI models, expanding its expert commentary offering, and developing AI Accounting Agents.