SA Fintech TaxTim Acquired By Twofold Capital Consortium To Expand AI-Powered Tax Services

South African fintech veteran TaxTim, known for simplifying tax returns, has been acquired by a private consortium led by Twofold Capital for an undisclosed sum. The deal gives a successful exit to early investors and a partial exit to cofounder Evan Robinson, who will remain as Head of Product.

The consortium also includes Stellenbosch-based tech group Octoco, which will provide technical expertise to revamp the platform. Under new ownership, TaxTim plans to expand its core services, roll out AI-powered features, and explore adjacent offerings.

“TaxTim has built a trusted brand, a loyal user base, and a track record of solving real customer problems,” said Ed du Plessis, director at Twofold Capital. “With advances in AI, there’s a real opportunity to make the tax experience even more personalised, automated, and accessible.”

Founded in 2011, TaxTim has helped hundreds of thousands of South Africans file taxes, processing more than ZAR 700 M (USD 38 M) in refunds through direct integration with the SARS eFiling system. With new backers and fresh capital, the company is entering a new chapter after over a decade as one of South Africa’s earliest fintech success stories.