Taxfix Group enters UK market by acquiring TaxScouts

Cementing its position as European market leader in digital tax filing (Press Release of July 2, 2024)

Taxfix Group enters UK market by acquiring TaxScouts, cementing its position as European market leader in digital tax filing

  • Taxfix accelerates expansion, now operating in four of the largest European financial markets: Germany, the UK, Spain, and Italy.
  • TaxScouts’ geographical reach and market segments complement Taxfix’s proven services.

Berlin/London, 2nd of July 2024 – Taxfix Group (“Taxfix”), Europe's leading financial platform for digital tax filing, has entered into a definitive agreement to acquire TaxScouts (“TaxScouts”), the market leader in accountant-assisted digital tax filing. TaxScouts is headquartered in London, UK, with offices in Madrid, Spain and Tallinn, Estonia. With this strategic move, Taxfix enters the UK market and cements its position as a leading force in European financial technology, offering a range of tax filing services in four of the biggest European markets: Germany, UK, Spain and Italy. The terms of the transaction will not be disclosed. 

The acquisition accelerates Taxfix’s international strategy and will unlock significant growth opportunities across Europe. With over 12 million people required to file a self assessment tax return every year, the UK presents significant growth potential, especially with 46% of filers struggling with the process*. Since its founding in 2017, TaxScouts has established a significant presence in the UK and Spain, achieving high customer satisfaction (4.8/5 on TrustPilot) 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. 

Martin Ott, CEO at Taxfix: "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 return. 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.”

Malcolm Cowley, CEO at TaxScouts: "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.”

TaxScouts’ 40-people strong team will join forces with Taxfix, fostering collaboration, innovation, and knowledge sharing across markets. Malcolm Cowley, CEO at 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 Taxfix leadership team. 

Taxfix Group has been on a sustainable growth trajectory, bolstered by the successful acquisition of Steuerbot in 2023. To date, Taxfix has assisted over 5 million customers, securing more than €3.5 billion in refunds for European tax filers, continuously improving its services to better cater to customer needs, and expanding the product portfolio with its “Expert-Service”.

About TaxScouts

TaxScouts is a tax and accounting platform on a mission to take the stress, in-convenience & cost out of doing taxes for millions of taxpayers by combining innovative technology solutions with a vetted network of highly experienced accountants. With a network of over 150 accredited accountants, TaxScouts provides expert tax advice and tax filing solutions.

Founded in 2017 by former employees of fintech unicorns Wise and MarketInvoice, TaxScouts has raised £9.2 million in funding and is supported by prominent investors, including Octopus Ventures, SpeedInvest, Seedcamp, and a community-led CrowdCube Campaign. The company operates from offices in London, Madrid and Tallinn.

About Taxfix

Taxfix Group is Europe’s leading financial platform for tax filing, with over 5 million submitted tax returns across Germany, Italy and Spain. Taxfix’s mission is to fix finances for all, ensuring everyone can navigate their finances with confidence. The platform with its brands, Taxfix, Steuerbot and now TaxScouts (active in the UK and Spain), offers a broad range of innovative tax filing solutions tailored to diverse user needs and preferences. From the simple self-filing service app and browser solutions to the expert-service, a guided service where certified tax advisors handle the entire tax return process, Taxfix Group provides easy-to-use tax filing solutions.

The group comprises over 400 professionals, including tax experts, developers, and IT security experts, and has facilitated more than 3.5 billion euros in tax refunds for its customers. Founded in 2016, Taxfix Group is backed by renowned investors such as Index Ventures, Valar Ventures, Creandum, Redalpine and Teachers’ Venture Growth (TVG).