TaxTim, South Africa’s leading digital tax assistant, has been acquired by a private consortium led by Twofold Capital. The consortium, which includes Stellenbosch-based technology group Octoco, provided a successful exit for TaxTim’s non-operational shareholders and a partial exit for co-founder Evan Robinson, who will remain involved in the business and continue to lead product strategy.
The acquisition paves the way for significant product enhancement and expansion into new services, backed by deep technological expertise.
“TaxTim has built a trusted brand, a loyal user base, and a track record of solving real customer problems in a market where simplicity and trust matter most,” Ed du Plessis, Director of Twofold Capital, said.
“We see significant potential to enhance the core product and expand into adjacent services, which is why we’re especially excited to have the Octoco team on board. With advances in AI, there’s a real opportunity to make the tax experience even more personalised, automated, and accessible.”
Since its founding in 2011, TaxTim has become a household name, helping hundreds of thousands of South Africans file confidently every year and processing over R700 million in tax refunds to date. The platform simplifies tax filing by integrating with SARS eFiling and guiding users through a plain-language, step-by-step process.
Evan Robinson, technical co-founder and now Head of Product at TaxTim, echoed the enthusiasm for the platform’s future.
“I’m excited to see how the business will grow with this new injection of energy, expertise, and capital. It’s an honour to continue our original mission — making tax easy and accessible for all South Africans. I’m confident that with the support of Twofold and Octoco, we can build on what we’ve started and take TaxTim to the next level.”
The business’s strong credibility is demonstrated by its long-standing partnerships with major financial services brands including Momentum, FNB eBucks, Sanlam Reality, Old Mutual Rewards, and, as of last week, Capitec Live Better. This acquisition marks the latest investment by Twofold Capital, combining long-term capital with operational expertise to accelerate the growth of high-potential businesses like TaxTim.
