Twofold Capital-Led Consortium Acquires South African Digital Tax Platform TaxTim

Co-founder Evan Robinson to remain, focusing on product innovation as the company enters its next growth phase.

TaxTim, a leading digital tax assistant in South Africa, has been acquired by a private consortium. The group, spearheaded by Twofold Capital and including the technology firm Octoco, has finalized the deal. The acquisition provides a successful exit for TaxTim's non-operational shareholders while allowing co-founder Evan Robinson to remain with the company and continue leading its product strategy.

This new partnership is expected to drive significant product improvements and enable the company to expand into new service areas. Ed du Plessis, a Director at Twofold Capital, highlighted the potential for growth.

"TaxTim has a proven brand and a dedicated user base. We see a significant opportunity to enhance the platform and move into related services, especially with the Octoco team's expertise," he said. "With AI advancements, we can make the tax experience even more personalized and accessible."

Founded in 2011, TaxTim has helped hundreds of thousands of South Africans file their taxes, processing over R700 million in refunds. The platform is known for its user-friendly, step-by-step process that simplifies tax filing by integrating with SARS eFiling.

Evan Robinson, now Head of Product, expressed his excitement for the future. "I'm looking forward to seeing how the business will grow with this new capital and expertise," he said. "We can now build on our original mission of making taxes easy for everyone in South Africa."

TaxTim has established strong credibility through partnerships with major financial service providers like Momentum, FNB eBucks, and Capitec Live Better. This acquisition is the latest move by Twofold Capital to combine strategic investment with operational knowledge to accelerate the growth of promising businesses.