South Africa: Consortium takes stake in TaxTim
Twofold Capital has led a consortium to acquire a controlling stake in TaxTim.
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Cape Town-headquartered Twofold Capital has led a consortium to acquire a controlling stake in TaxTim, a South African digital tax assistant.
"Since launching in 2011, TaxTim has helped hundreds of thousands of South Africans navigate tax season with confidence. Along the way, it has built strong partnerships with institutions including Momentum, FNB eBucks, Old Mutual Rewards, Sanlam Reality, and most recently, Capitec Live Better,” Twofold said in a statement.
"This investment marks the start of a new chapter for TaxTim, one focused on product innovation, broader financial wellness integration and continued scale. We’re also excited to have Octoco, a Stellenbosch-based technology group, as a key partner and investor in the consortium."
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