Berlin’s Taxfix acquires London-based TaxScouts to enter UK market

Berlin-based Taxfix, a financial tax platform for tax filing, announced on Tuesday, July 2, that it has reached an agreement to acquire London-based TaxScouts, a company specialising in accountant-assisted digital tax filing.

With this acquisition, the Berlin-based firm enters the UK market and aims to cement its position in European financial technology, offering a range of tax filing services in four of the biggest European markets: Germany, the UK, Spain, and Italy.

However, the terms of the transaction will not be disclosed. 

The acquisition accelerates the German company’s international strategy and growth opportunities across Europe.

Since its inception in 2017, TaxScouts has established a significant presence in the UK and Spain with the support of over 150 tax accountants.

With TaxScouts’ expertise in tax accountant support alongside Taxfix’s proven self-service tax filing and expanding tax expert services, the combined Taxfix Group will provide even better customer experiences and help more people file their taxes. 

Post-acquisition, TaxScouts’ 40-people strong team will join forces with Taxfix.

Malcolm Cowley, CEO of TaxScouts, will continue to spearhead TaxScouts at Taxfix Group.

Kaupo Korv and Daniel Karger, founders of TaxScouts, will continue to serve as CPO and CTO at TaxScouts and work closely with the German company’s leadership team. 

TaxScouts: Tax and accounting platform

Led by Malcolm Cowley, TaxScouts is a tax and accounting platform with a network of over 150 accredited accountants. The platform provides expert tax advice and tax filing solutions.

Founded by former employees of fintech unicorns Wise and MarketInvoice, TaxScouts has raised £9.2M in funding and is supported by investors, including Octopus Ventures, SpeedInvest, Seedcamp, and a community-led CrowdCube Campaign.

The company operates from offices in London, Madrid and Tallinn.

Malcolm Cowley, CEO at TaxScouts, says, “We are thrilled to join the Taxfix family. Delivering exceptional service to our customers remains at the heart of what we do, and this partnership allows us to leverage Taxfix’s innovative approach and extensive resources to enhance our services in the UK and Spain.”

“Our teams are a great fit, sharing a common mission to simplify tax filing and alleviate the associated stress for everyone. Enhanced by the scale and strength of Taxfix, we can achieve this goal on a larger scale together, making a significant impact across Europe and beyond,” adds Cowley.

Taxfix: Financial tax platform

Founded in 2016, Taxfix is a financial tax platform for tax filing – with over 6 million app downloads in Germany, Italy, and Spain.

The company claims to be on a sustainable growth trajectory, bolstered by the successful acquisition of Steuerbot in 2023.

To date, Taxfix has assisted over 5 million customers and secured more than €3.5 billion in refunds for European tax filers.

The company is supported by well-known investors such as Index Ventures, Valar Ventures, Creandum, Redalpine, and Teachers’ Venture Growth (TVG).

Martin Ott, CEO at Taxfix says, “The acquisition of TaxScouts marks a significant step in our European expansion. Tax filing can be a daunting and painful process for so many people across Europe, and with TaxScouts, we share the same mission: to break down barriers and empower users to take control of their finances, starting with their tax returns. I am personally very excited to officially welcome our new TaxScouts colleagues to the Taxfix Group. Combining the strengths of our teams will allow us to better address the diverse needs of all taxpayers across Europe and help even more people.”