South African digital tax assistant TaxTim has been acquired by a private consortium led by Twofold Capital for an undisclosed amount. The transaction delivers an exit for early backers and a partial liquidity event for technical co-founder Evan Robinson, who stays on as Head of Product. The new owners say the priority is to expand core services while infusing the platform with AI to simplify and personalise tax compliance.
Deal Overview
Twofold Capital is leading the buyer group, joined by Stellenbosch-based technology outfit Octoco, which will contribute engineering depth to modernise the stack. Under the consortium, TaxTim plans to strengthen its product foundation, improve performance, and accelerate feature delivery. The deal positions the company to push beyond tax filing into adjacent services aligned with consumer financial workflows.
Strategic Rationale
Twofold argues TaxTim combines a recognisable brand with a base of engaged users who value clarity and reliability in a regulated workflow. The firm sees room to automate more of the journey, reduce friction, and tailor guidance using advances in machine learning. Its thesis is that smarter orchestration across data, rules, and user intent can lift completion rates and outcomes while keeping costs in check.
Leadership and Roles
Robinson will continue to direct product strategy after selling part of his stake, providing continuity on vision and execution. He frames the next phase as a chance to build faster with fresh capital and experienced partners while staying anchored to the company’s original mission. His remit includes prioritising roadmap bets, sharpening usability, and ensuring compliance remains non-negotiable.
Product and Technology Roadmap
Management is targeting AI-assisted preparation, better anomaly detection, and context-aware help that adapts to each filer’s profile. Octoco’s engineering support is expected to accelerate a platform revamp, including data pipelines, integrations, and modular components that ship more safely and frequently. The near-term goal is to shorten time-to-file, improve accuracy, and surface actionable next steps across the tax calendar.
Track Record and Operations
Founded in 2011, TaxTim has guided hundreds of thousands of South Africans through returns using a conversational, plain-language flow. The service plugs directly into SARS eFiling, translating user inputs into compliant submissions and tracking progress end-to-end. To date, the platform has facilitated more than R700 million in refunds, roughly USD 38 million, underscoring real usage at national scale.
Partnerships and Distribution
TaxTim’s distribution has been strengthened by long-standing partnerships with major financial services programs, including Momentum, FNB eBucks, Sanlam Reality, and Old Mutual Rewards. The company recently added Capitec Live Better, extending reach into one of the country’s largest retail banking franchises. These channels lower acquisition costs and embed tax help where customers already manage money and rewards.
Market Context
South Africa’s tax environment is complex for mass-market filers, with evolving rules, documentation burdens, and seasonal pressure. Digital adoption has accelerated, but many users still need guided experiences that put accuracy and transparency first. The combination of regulated integrations, explainable automation, and strong identity controls is becoming table stakes for scale players in this space.
Consortium Profile
Twofold Capital pairs patient capital with hands-on operational support aimed at unlocking step-changes in product velocity and commercial traction. Octoco brings a track record in software delivery from its base in Stellenbosch, adding senior engineering capacity to a high-stakes workflow. Together they intend to professionalise processes, modernise infrastructure, and build a platform engineered for reliability and growth.
With new ownership and resources, TaxTim is entering a scale-up phase focused on faster shipping, smarter assistance, and broader service coverage. The company will be judged on execution, particularly the quality of its AI features, the resilience of its SARS integrations, and the consistency of outcomes for users. Financial terms remain private, but the strategic direction is clear: make tax easier, safer, and more accessible for millions.