Index Ventures et al. back $65m series-C for Taxfix

The company began speaking with investors about the latest round before the start of the coronavirus crisis, meaning there was little adverse impact on the round, according to a report from Handelsblatt.

Taxfix plans to use the fresh capital to develop its platform further and anticipates its use will increase as more people in Germany file their tax returns remotely during the coronavirus lockdown, according to a statement.

The round is the fifth largest round in the DACH region this year, according to Unquote Data, and the largest in Germany since the coronavirus crisis began to slow the rate of venture capital investment.

Previous financing
Creandum and Redalpine led a €2m seed funding round for Taxfix in October 2017. Both investors also backed to a $13m series-A in August 2018, joined by new investor Valar.

Redalpine led a $30m round for Taxfix in April 2019, deploying equity via Redalpine Captal III. Also participating were Creandum and Valar, the latter investing via Valar Global Fund IV.

Company
Taxfix's software platform provides an app that allows users to file tax declarations. The company claims its software reduces the hours needed to file a tax declaration to just 22 minutes, using an online AI-backed interview process to determine a user's tax situation and the tax refund they are entitled to.

Founded in 2016, Taxfix is headquartered in Berlin and has 200 employees. The company also has an office in Madrid. Its revenues have tripled in the past 12 months, according to a statement.

People
Taxfix – Mathis Büchi (co-founder, CEO); Lino Teutenberg (co-founder).
Index Ventures – Neil Rimer (partner).

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• Topics
• Expansion
• DACH
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• Germany