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Taxfix has completed a Series A round, raising $13 million for its expansion to international markets.

Led by N26 and TransferWise investor Valar Ventures, and supported by existing investors Creandum and Redalpine, the funding will allow Taxfix to bring its 20-minute tax return app to other countries, and to invest heavily in machine learning.

Taxfix CEO and co-founder Mathis Büchi says, “We are thrilled that Valar Ventures is leading our Series A. Valar has a clear understanding and track record of how technology and user experience are disrupting financial industries. With our tax-engine technology, we redefine the process of tax filing and enable every employee to file their taxes as easily as if they had a personal tax accountant.”

Backed by Peter Thiel, Valar Ventures focuses mainly on technology startups such as neo-bank N26, TransferWise, and accounting software Xero, that transform classical financial industries.

“Taxfix not only aims at making tax declaration easy and transparent” adds James Fitzgerald, General Partner of Valar. “The Taxfix app completely re-invents the process of tax declaration and improves the way people file their taxes in a revolutionary manner. We are seeing rising demand for digital FinTech products and services in the European market and we are very excited to build a long-term partnership with Taxfix and participate in its growth.”

Taking part in the round alongside Valar Ventures are European VC Creandum (Spotify, iZettle, Klarna..) and Redalpine (N26, Zenjob, Bexio…). The project has also received substantial public financial support from the business development bank of Berlin (IBB) and the European Regional Development Fund, which promotes R&D and innovation.

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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