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 offering.

Taxfix has raised $220 million in a Series D funding round. Teachers' Venture Growth led the round, and existing investors Index Ventures, Valar Ventures, Creandum and Redalpine also participated. As part of the funding round, Avid Larizadeh Duggan, the Managing Director from Teachers' Venture Growth, joins the Taxfix board. As part of the funding round, the startup's valuation rose to more than $1 billion. As a result, Taxfix now joins the ranks of German unicorns - along with companies like Gorillas, Grover, Personio and Tier.

"With this funding, we will continue to drive rapid international growth and the expansion of our product offering to include additional financial services," says Taxfix CEO Martin Ott. The new product offering also includes a free service that will enable tax refunds in one business day and a service for senior citizens. The startup is also looking 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 their tax returns using a catalog of questions and then transmits them to the tax office via the Elster interface. The service costs 39.99 euros. Customers are then reimbursed for any overpaid taxes. According to the company, Taxfix has already resulted in refunds totaling one billion euros.