South Africa’s TaxTim Acquired by Twofold Capital-Led Consortium
TLDR
- South African digital tax assistant TaxTim has been acquired by a private consortium led by private equity firm Twofold Capital
- TaxTim integrates with the South African Revenue Service (SARS) to help individuals and businesses complete tax returns
- The platform has facilitated filings worth more than ZAR700 million ($40 million) in tax refunds and also provides educational content to help taxpayers understand their obligations
South African digital tax assistant TaxTim has been acquired by a private consortium led by private equity firm Twofold Capital, alongside Stellenbosch-based technology group Octoco. The financial terms were not disclosed.
Founded in 2011, TaxTim integrates with the South African Revenue Service (SARS) to help individuals and businesses complete tax returns. Using plain-language prompts, it guides users through income and expense reporting before preparing and submitting returns. The platform has facilitated filings worth more than ZAR700 million ($40 million) in tax refunds and also provides educational content to help taxpayers understand their obligations.
The acquisition delivers an exit for non-operational shareholders and a partial exit for co-founder Evan Robinson, who will remain involved in product strategy.
Twofold Capital director Ed du Plessis said TaxTim’s trusted brand and user base position it for growth, with opportunities to enhance its core platform and expand into adjacent services using AI-driven automation.
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Key Takeaways
The acquisition of TaxTim reflects rising investor interest in South Africa’s fintech and digital services market, particularly in tools that simplify compliance in complex regulatory environments. With tax filing remaining a major challenge for individuals and small businesses, platforms like TaxTim offer scalable solutions that blend automation, accessibility, and trust. By bringing in Twofold Capital’s investment expertise and Octoco’s technology capabilities, the new owners aim to expand TaxTim’s offerings beyond tax filing into adjacent services such as personal finance management and small-business compliance. Advances in AI will likely play a central role, enabling more personalized and automated experiences. For South Africa’s startup ecosystem, the deal represents a notable exit in a market where liquidity events remain scarce. For consumers, it signals that digital-first tax services will continue to evolve, potentially reshaping how millions of South Africans interact with the tax system in the years ahead.
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