Tax return filing management platform Taxfix has received a €2m seed investment round from Redalpine and Creandum.
Berlin-based Taxfix uses smart algorithms to simplify tax and speed up refund processes, helping to cut times by 12-times and making it up to 10-times cheaper than existing solutions. The platform uses its technology to guide a user through a questionnaire to help calculate the outstanding refund, automatically compile the tax return and a one-click option to process the form to tax authorities.
This offering has a fully automated communications system with users and is easily integrated with different countries to help with future internationalisation of the business.
The capital will be used to help the company continue its business reach expansion efforts, according to FinSMEs.
Other investments currently in Redalpine’s portfolio include online investing platform Cashboard, which the firm backed in its seed round in 2015 and personal finance management platform N26, with the firm recently participating in its $40m Series B.
Last month China-based corporate finance and tax management company Yunzhangfang.com closed a $14m investment from Hillhouse Capital Group.Â
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