Digital tax assistant TaxTim has been acquired by a private consortium led by Twofold Capital. While the terms of the deal were not disclosed, the acquisition provides a successful exit for non-operational shareholders and a partial exit for co-founder Evan Robinson, who will stay on to lead product strategy.
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Since its launch in 2011, TaxTim has helped hundreds of thousands of South Africans file their tax returns and processed over R700 million in tax refunds. The platform is integrated with the South African Revenue Service (SARS) and uses a simple, step-by-step process with plain-language questions to guide users. In addition to its filing service, TaxTim also offers free tax education content.
According to Twofold Capital director Ed du Plessis, the consortium sees significant potential to enhance TaxTim’s core product and expand into new services. The team is particularly excited about leveraging advances in AI to make the tax experience even more personalized, automated, and accessible for users.
The acquisition also brings a new partnership with Stellenbosch-based technology group Octoco, which will help drive future development. TaxTim has a history of successful partnerships with major financial services brands, including FNB, Sanlam, and Old Mutual.
