Taxfix raises $220 million and rises to unicorn status

Taxfix intends to use the money from the financing round to grow and expand its product range.

Taxfix has raised 220 million US dollars in a Series D financing round. Teachers' Venture Growth led the round, with existing investors Index Ventures, Valar Ventures, Creandum and Redalpine also participating. As part of the funding round, Avid Larizadeh Duggan, Managing Director of Teachers' Venture Growth, joins the Taxfix board. As part of the financing round, the start-up's valuation rose to over one billion US dollars. This means that Taxfix is now one of the German unicorns - together with companies such as Gorillas, Grover, Personio and Tier.

"With this funding, we will continue to drive rapid international growth and expand our product offering to include additional financial services," says Taxfix CEO Martin Ott. The new product range also includes a free service that enables tax refunds in one working day and a service for senior citizens. The start-up also wants to hire 100 more employees.

Founded in 2016 by Mathis Büchi and Lino Teuteberg, the start-up is now also active in Italy and Spain. With its app, the Berlin-based company helps its customers with a questionnaire for their tax return and then transmits it to the tax office via the Elster interface. The service costs 39.99 euros. Customers then receive a refund for any overpaid taxes. According to the company, Taxfix has already refunded a total of one billion euros.