London-headquartered TaxScouts has been acquired by German peer Taxfix Group.
Taxfix Group is described as Europe’s leading financial platform for digital tax filing and is now operating in four of the largest European financial markets: Germany, the UK, Spain and Italy.
TaxScouts also has offices in Madrid, Spain and Tallinn, Estonia.
The terms of the transaction have not been disclosed.
With over 12 million people required to file a self assessment tax return every year, it says the UK presents significant growth potential, with research suggesting almost a half of filers struggle with the process.
Since its founding in 2017, TaxScouts has established a significant presence in the UK and Spain with the support of over 150 tax accountants.
“The acquisition of TaxScouts marks a significant step in our European expansion,” said Martin Ott, CEO at Taxfix.
“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.”
TaxScouts’ 40-strong team will join forces with Taxfix, with CEO Malcolm Cowley continuing to spearhead the firm within the wider 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.
Cowley added: “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.”
Taxfix Group has been on a sustainable growth trajectory, bolstered by the successful acquisition of Steuerbot in 2023. To date, Taxfix has assisted over five million customers, securing more than €3.5 billion in refunds for European tax filers.