Taxfix, Europe’s most popular mobile tax software, has raised US $220 million in Series D funding. With over US $1 billion, this news raises the Berlin-based fintech to unicorn status. Teachers’ Venture Growth (TVG), was part of the Ontario Teachers’ Pension Plan Board (Ontario Teachers’), led the funding round, including current investors Index Ventures, Valar Ventures, Creandum, and Redalpine.
Taxfix has also created a new category of mobile tax filing in the last five years by removing the stress of the process and making it accessible and straightforward for everyone to file their taxes using the Taxfix app.
What the founder has to say:
Taxfix -CEO Martin Ott said:
“With TVG, who is a long-term partner who shares our goal, we are tremendously proud to take the next step in our quest to help individuals overcome their fear of complex tax and financial difficulties. With this financing, we’ll be able to continue our rapid worldwide expansion and expand our product offering to include new financial services. We moved into Spain, another significant European market, in addition to doubling revenue in the first quarter of this year. I’m thrilled that our team is continuing to expand because this historic achievement would not have been possible without the devotion and motivation of our dedicated colleagues.”
What the investors have to say:
Avid Larizadeh Duggan- The Managing Director, EMEA, of TVG:
“We were soon won over by Taxfix, the staff, and the company’s and products’ ambition. Ontario Teachers, like Taxfix, are mission-driven and dedicated to ensuring that individuals have a secure and stable future. It’s thrilling and motivating to meet a team with big goals and shared ideals that create a product that will help millions of people improve their financial situation. We’re excited to collaborate with Martin and Taxfix to help them realize their vision of making it simple, affordable, and stress-free for everyone to pay taxes and manage their money.”
More about Taxfix:
Taxfix’s growth from a successful company to a prominent industry leader is cemented with this additional funding: In October of last year, the company reached a milestone of over one billion euros in tax refunds returned to Taxfix users in addition to reliable income data. Taxfix continues to engage in expansion, adding over 100 new workers in the first quarter of 2022, bringing the total team size to over 500.
Along with the funding round, Taxfix is unveiling a new, unique addition to its product portfolio: Taxfix users will now be able to receive half of their tax refund via the free service “Instant Refund” within one business day of filing their tax return. Taxfix has also just launched a particular version of its service for retirees. With these actions, the organization breaks down further barriers for its clients, allowing even more people to reach financial security. The current funding round, sponsored by TVG, is another step forward in Taxfix’s quest to accomplish this ambition.
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