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- Taxfix
Taxfix Revenue, Valuation, Funding & Investors
Taxfix is valued at $1B as of April 2022, a 15.6x multiple on its last reported $64M revenue.
Last Taxfix valuation
$1B
Series D · Apr 2022
Last Taxfix funding round
$220M
Series D · Apr 2022
Taxfix revenue
$64M
Series D · Apr 2022
Key investors in Taxfix
Creandum
redalpine
Valar Ventures
Index Ventures
Ontario Teachers' Pension Plan
KAAN Ventures
About Taxfix
Taxfix is a Berlin-headquartered platform processing over 6 million tax returns across Germany, France, and Belgium. Brands like Taxfix app for self-filing, Steuerbot for AI guidance, and TaxScouts for advisor-assisted services cover Einkommensteuer and local deductions. Founded in 2017, the group expands with expert networks in multiple countries.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Revenue
$64M (Apr 2022)
Valuation
$1B (Apr 2022)
Taxfix Valuation
Taxfix is currently valued at $1B, based on its Series D in April 2022.
The $220M round was led by Ontario Teachers' Pension Plan, with participation from redalpine, Index Ventures, Creandum, KAAN Ventures and Valar Ventures.
Taxfix valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Apr 2022 | Series D | $1B | 15.6x |
Taxfix Revenue
Taxfix's latest recorded revenue is $64M, as of its Series D in April 2022. At a $1B valuation, that implies a 15.6x revenue multiple.
Taxfix revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Apr 2022 | $64M | $1B | 15.6x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Taxfix Funding History
Taxfix has raised a total of $330M across 5 funding rounds.
Taxfix's first fundraising round was a $2M seed round in September 2017. The most recent completed round was a $220M Series D in April 2022.
Taxfix funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2022 | Series D | Ontario Teachers' Pension Plan (lead); redalpine; Index Ventures; Creandum; KAAN Ventures; Valar Ventures | $220M | $1B | Taxfix, a Berlin-based mobile tax filing app founded in 2016 by Lino Teuteberg and Mathis Büchi, raised $220 million in a Series D funding round on April 28, 2022, led by Teachers’ Venture Growth (TVG), part of the Ontario Teachers’ Pension Plan Board, with participation from existing investors including Index Ventures, Valar Ventures, Creandum, and redalpine (also referred to as Redalpine). The round valued the company at over $1 billion post-money, achieving unicorn status. Taxfix operates as Europe's leading mobile tax app, helping users in Germany, Spain, and Italy collect and manage tax refunds, with over €1 billion in refunds collected from customers to date. The investment was highlighted in Ontario Teachers' announcements as a key venture growth deal, with Avid Larizadeh Duggan, Managing Director of TVG EMEA, joining the Taxfix board. Prior to this round, Taxfix had raised approximately $45 million from investors. The funding supports Taxfix's expansion in the tax management space, leveraging its app-based solution for simplified tax filing amid growing digital financial services demand. The deal aligns with OTPP's broader portfolio activities in 2022, during a year of market volatility where the pension plan achieved a 4% net return. |
| Apr 2020 | Series C | Index Ventures (lead); redalpine; Creandum; Valar Ventures | $65M | - | Taxfix is a Berlin-based mobile tax filing app that simplifies tax declarations for consumers, primarily targeting those who do not regularly file returns. The app allows users to upload payslips and basic details for an automated calculation, charging €34.99 if a tax refund of at least €50 is identified. In April 2020, Taxfix raised $65 million in a funding round led by Index Ventures, with participation from Creandum, Redalpine, and Valar Ventures. At that time, the startup had assisted hundreds of thousands of users in collecting €270 million in tax refunds, mainly in Germany, with expansion plans to France and Italy. The 2020 funding supported growth amid a user base leveraging the app's low-threshold refund model. Taxfix positioned itself against bureaucratic traditional tax filing, focusing on lazy or infrequent filers rather than annual return users. Subsequent developments show Taxfix expanded to Spain and Italy by 2022, achieving millions of app downloads and over $1 billion in total taxes refunded across markets. The company later reported €38.5 million revenue in 2022 and €55.9 million in 2023 (45% growth), targeting high double-digit millions in 2025 while pursuing M&A for pan-European scale in products, segments, and regions. |
| Apr 2019 | Series B | Valar Ventures (lead); redalpine; Creandum | $30M | - | Taxfix is a Berlin-based fintech startup offering a mobile app that simplifies tax return filing in Germany by guiding users through approximately 70 questions, with document scanning for automatic data entry, enabling digital submission to tax offices. The app targets users intimidated by bureaucracy, helping them claim average refunds of €974, and by early 2019 sent thousands of returns weekly, distributing over €5 million in refunds to users each week. In April 2019, Taxfix raised approximately $30 million (or €27 million) in its Series B round, led by Valar Ventures with participation from Creandum and Redalpine, following a €11.6 million Series A in August 2018. Funds were allocated to product development and international expansion to disrupt tax markets beyond Germany. At the time, Taxfix had garnered over 10,000 positive app store reviews and was processing first-time filings for many users, reducing filing time to about 22 minutes. The company competed in the growing tax tech space, similar to Taxjar which raised $60 million earlier that year for e-commerce sales tax automation. Taxfix focused on consumer tax refunds rather than business compliance. |
| Aug 2018 | Series A | Valar Ventures (lead); redalpine; Creandum | $13M | - | Taxfix raised $13 million in its Series A funding round on September 1, 2018, led by Valar Ventures with participation from Creandum and Redalpine. The Berlin-based company develops a mobile platform that uses smart algorithms and machine learning to simplify tax declarations, guide users through questionnaires, automatically compile returns, and submit them to authorities with one click. This approach cuts processing times by 12 times and costs by up to 10 times compared to traditional solutions. Since launching in 2017, Taxfix achieved double-digit week-over-week growth and was submitting nearly 800 tax returns daily, helping users reclaim tens of millions of euros. The funding supports international expansion and further investment in machine learning technology. Valar Ventures highlighted Taxfix's revolutionary approach to tax filing amid rising demand for digital fintech products in Europe. |
| Sep 2017 | Seed | Creandum (lead); redalpine (lead) | $2M | - | - |
Who has invested in Taxfix?
6 investors have backed Taxfix across its funding rounds, including Creandum, redalpine, Valar Ventures, Index Ventures, Ontario Teachers' Pension Plan and KAAN Ventures.
Lead investors include Ontario Teachers' Pension Plan, Index Ventures, Valar Ventures, Creandum and redalpine.
Taxfix Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Sep 2017 | ||
| 5 | Lead | Sep 2017 | ||
| 4 | Lead | Aug 2018 | ||
| 2 | Lead | Apr 2020 | ||
This data is available for Pro users. Sign up to see all 6 Taxfix investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Taxfix
Taxfix has acquired 2 companies to date.
Last acquisition by Taxfix was on July 2nd 2024. Taxfix acquired TaxScouts for undisclosed valuation.
Latest Acquisitions by Taxfix
| Description | TaxScouts is a London-headquartered tax preparation platform founded in 2017 that facilitates online personal income tax filing through certified accountants. The service includes a tax bot for analyzing user situations and recommending deductions to lower tax liabilities for UK residents. | Steuerbot is a Berlin-headquartered fintech firm delivering a mobile application for German personal income tax declarations. The app simplifies the Elster-certified process by collecting details on wages, freelance income, deductions for commuters and home offices, plus attachments like medical bills and charitable donations. Steuerbot handles non-residents and married couples filing jointly, ensuring compliance with Finanzamt requirements. Launched in 2016, the service enables direct electronic submission to tax authorities nationwide. |
| HQ Country | ||
| HQ City | London | Stuttgart |
| Deal Date | 2 Jul 2024 | 27 Feb 2023 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Taxfix acquisitions and their M&A valuation multiples. Start Free Trial | ||
Taxfix Competitors
Taxfix competitors include listed companies like 74Software and Freee, and private ones like KOHO Financial, Vivid, FPL Technologies and Clear.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $100M | - | $961M | - | ||
| Private | - | - | $886M | - | ||
| Private | $58M | - | $1.4B | 24.0x | ||
| Private | $25M | - | $700M | 28.0x | ||
| Publicly listed | $814M | $112M | $1.3B | 1.8x | ||
| Publicly listed | $214M | $6M | $1.5B | 4.8x |
Taxfix Public Comps
Taxfix is still privately-owned, but its public comps include Agibank, Superbank Indonesia, Forbright Bank, Wema Bank, Fujian Boss Software, Judo Bank, PicPay, Green Dot, Bank Jago and 74Software.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.3B | $227M | 0.8x | 0.6x | 4.4x | 5.3x | |||
| $89M | - | 10.8x | - | - | - | |||
| $325M | - | 2.9x | - | - | - | |||
| $312M | - | 2.8x | - | - | - | |||
| $299M | $40M | 2.8x | 2.9x | 21.1x | 21.0x | |||
| $368M | - | 2.2x | 2.1x | - | - | |||
| $1.2B | $205M | 1.0x | 0.5x | 6.0x | 3.8x | |||
| $2.1B | ($12M) | 0.4x | 0.3x | (63.9x) | 4.2x | |||
This data is available for Pro users. Sign up to see all Taxfix competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Taxfix
| When was Taxfix founded? | Taxfix was founded in 2016. |
| Where is Taxfix headquartered? | Taxfix is headquartered in Berlin, Germany. |
| Is Taxfix publicly listed? | No, Taxfix is a private, VC-backed company. |
| What is Taxfix's valuation? | Taxfix was last valued at $1B in its Series D in April 2022. |
| How much funding has Taxfix raised? | Taxfix has raised $330M across 5 funding rounds. |
| What was Taxfix's last funding round? | Taxfix's last funding round was a $220M Series D in April 2022, led by Ontario Teachers' Pension Plan. |
| Who are Taxfix's investors? | Taxfix's investors include redalpine, Creandum, Valar Ventures, Index Ventures, KAAN Ventures and Ontario Teachers' Pension Plan. |
| What is Taxfix's revenue? | Taxfix's latest recorded revenue is $64M (April 2022). |
| What is Taxfix's revenue multiple? | Taxfix's latest valuation implies a 15.6x revenue multiple ($1B valuation on $64M of revenue). |
| Which companies are comparable to Taxfix? | Companies comparable to Taxfix include KOHO Financial, Vivid, FPL Technologies, Clear, 74Software and Freee. |
| How many companies has Taxfix acquired? | Taxfix has acquired 2 companies, including TaxScouts and Steuerbot. |
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