Taxfix closes US$220M Series D

Taxfix, a mobile tax software, has joined Europe’s unicorn club as VC money pours into fintech businesses.

Teachers’ Venture Growth, the VC and growth equity section of the Ontario Teachers’ Pension Plan, led the $220 million Series D round, which valued the company at over $1 billion. Index Ventures, Valar Ventures, Creandum, and Redalpine were among the investors in the round.

According to PitchBook data, European venture investments in fintech had a good start to the year following a record 2021, with Q1 marking one of the sector’s finest quarters to date. In the first three months of the year, 286 deals raised €7.9 billion (about $8.3 billion) for businesses in the field.

Taxfix’s Series D funding follows a wave of VC mega-deals in the region this year, defined as rounds of $100 million or more. Checkout.com, a payments specialist based in London, raised $1 billion in January, more than doubling its valuation to $40 billion from its Series C a year prior.

Qonto, a French challenger bank, raised €486 million in a Series D round, and Scalapay, an Italian buy now, pay later firm, raised $497 million. Taxfix, based in Berlin, allows customers to submit tax returns through an app or the web, and it is presently available in Germany, Italy, and Spain.