Entrepreneurship is experiencing significant growth in the U.S., with a 50% increase in new business applications since 2019, highlighting a vibrant startup ecosystem.
There is a looming shortage of accountants as nearly 75% of CPAs are expected to retire in the next decade, combined with a declining interest in the field.
David Phillips, founder of Fondo, sees a business opportunity in addressing the accounting needs of startups, combining AI and human expertise to offer automated solutions.
Fondo has achieved notable success, helping customers save over $75 million in taxes and recently raising a $7 million seed round to further expand its services.
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