Top 15 Tax Preparation Investors in Europe
Top 15 Tax Preparation Investors in Europe
The tax preparation industry in Europe is a dynamic sector that helps individuals and businesses navigate their tax obligations. Companies range from traditional accounting firms to modern tech startups that leverage automation and user-friendly platforms to simplify tax filing. Offering services like tax return preparation, advisory, and compliance management, these companies aim to reduce the complexities of taxation. As the sector evolves, digital solutions are becoming increasingly prominent, pushing firms toward tech adoption. Environmental awareness is also growing, with an emphasis on sustainable practices influencing corporate strategies. Overall, the industry is poised for significant innovation.
The following investors represent a blend of venture capital, private equity, and corporate entities, primarily based in London, with a few notable exceptions sprinkled across Europe. Founded between 1776 and 2015, these firms vary from large conglomerates to focused funds, with deal counts in 2024 showcasing strong interest in the tax preparation sector. With investments committed to high-growth potential companies, they engage with both established players and fresh challengers in the industry, furthering their strategic objectives while supporting innovation in tax technology and services.
Top 15 Tax Preparation Investors in Europe
1. Visma
- Website: visma.com
- Type: Corporate
- Headquarters: Oslo, Oslo, Norway
- Founded year: 1996
- Headcount: 10001+
- Number of deals in 2024: 16
- LinkedIn: visma
Visma is a corporate investor based in Oslo, Norway, founded in 1996. It is a leading software company that specializes in providing cloud-based accounting, payroll, invoicing, and HR solutions primarily for small and medium businesses, as well as public sector organizations. Visma has a strong presence in Europe and Latin America, operating through a network of entrepreneurial companies that contribute to its innovative software offerings. In recent years, Visma has made significant acquisitions to bolster its position in the tax preparation industry, including:1. **Teledec** - Acquired on March 20, 2024, Teledec specializes in tax filing services for businesses and professionals in France, enhancing Visma's offerings in the French market.2. **Quaderno** - Acquired on September 21, 2023, Quaderno is an automatic tax compliance company based in Las Palmas de Gran Canaria, marking Visma's strategic expansion in the Spanish software market.3. **Declarando** - Acquired a stake in this Spanish startup focused on tax solutions, further indicating Visma's interest in the tax preparation sector.These transactions reflect Visma's strategy to strengthen its capabilities in tax compliance and preparation, making it a relevant investor in this space.
2. Wolters Kluwer
- Website: wolterskluwer.com
- Type: Corporate
- Headquarters: Alphen Aan Den Rijn, South Holland, Netherlands
- Founded year: 1836
- Headcount: 10001+
- Number of deals in 2024: 4
- LinkedIn: wolters-kluwer
Wolters Kluwer N.V. is a prominent information services company based in Alphen Aan Den Rijn, South Holland, Netherlands, founded in 1836. The company specializes in providing software solutions and services across various professional sectors, including healthcare, legal, tax, accounting, finance, and compliance. Wolters Kluwer supports professionals by offering tools that enhance productivity and ensure compliance with regulatory requirements. Notably, the company has made significant acquisitions in the tax preparation space, including the acquisition of MFAS, a Dutch provider of tax content solutions, in October 2023, aimed at enhancing their offerings in the legal and tax professional market. Additionally, in May 2013, they acquired Prosoft Tecnologia S.A., a leading tax and accounting software provider in Brazil, further solidifying their position in the tax preparation market. These strategic moves demonstrate Wolters Kluwer's commitment to expanding its influence and capabilities within the tax preparation industry.
3. Index Ventures
- Website: indexventures.com
- Type: Venture Capital
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 1996
- Headcount: 51-200
- Number of deals in 2024: 67
- LinkedIn: index-ventures
Index Ventures is a venture capital firm founded in 1996, based in London, England. The firm invests in innovative startups across various sectors, including technology and healthcare, providing capital and strategic support to entrepreneurs. Notably, Index Ventures has been actively involved in the tax preparation industry through its investments in Taxfix, a company that raised $220 million in a Series D funding round and $65 million in a Series C round, both with Index Ventures as a participant. This startup aims to simplify the tax filing process for individuals, highlighting Index Ventures' focus on impactful financial technology. Additionally, Index Ventures has invested in Pilot, an accounting company that raised significant funding across multiple rounds, further showcasing their engagement in the financial services sector. Their approach emphasizes building long-term partnerships with founders to drive success, particularly in areas that include tax preparation and accounting services.
4. Seedcamp
- Website: seedcamp.com
- Type: Venture Capital
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 2007
- Headcount: 11-50
- Number of deals in 2024: 40
- LinkedIn: seedcamp_2
Seedcamp is a venture capital firm based in London, England, founded in 2007. It specializes in investing in early-stage startups across Europe, providing financial backing and support to founders in areas such as product-market fit, sales, and access to a vast network of investors. Seedcamp has a strong focus on technology-driven companies looking to innovate and grow. Notably, they have invested in several companies within the tax preparation sector, including SimpleTax, which raised $240,236 in a seed round in December 2012, and TaxScouts, which raised $1,554,720 in a seed round in January 2019. Additionally, they participated in the funding round for Loc.tax, a collaborative tax management platform for multinational companies, showcasing their commitment to supporting innovations in tax management and preparation.
5. Speedinvest
- Website: speedinvest.com
- Type: Venture Capital
- Headquarters: Vienna, Vienna, Austria
- Founded year: 2011
- Headcount: 51-200
- Number of deals in 2024: 45
- LinkedIn: speedinvest
Speedinvest is a venture capital firm based in Vienna, Austria, founded in 2011. The firm specializes in funding early-stage tech startups across Europe, providing both capital and hands-on support to help these companies scale and navigate growth challenges. Speedinvest's investment focus spans various technology sectors, including Deep Tech, Fintech, and SaaS. Notably, they have been involved in significant transactions within the tax preparation context, such as their investments in TaxScouts, which raised funds in both Seed and Series A rounds. This involvement highlights Speedinvest's commitment to supporting innovative solutions in the tax preparation industry, alongside their broader investment strategy in technology startups.
6. Crowdcube
- Website: crowdcube.com
- Type: Corporate
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 2010
- Headcount: 51-200
- Number of deals in 2024: 3
- LinkedIn: crowdcube-limited
Crowdcube is a crowdfunding platform based in London, England, founded in 2010. It enables businesses, particularly startups and SMEs, to raise capital through equity investments by connecting them with potential investors. The platform emphasizes diversity and inclusion within its workforce while offering investment management services. Notably, Crowdcube has facilitated significant funding for companies in the tax preparation sector, including TaxScouts, which raised $3,568,055 in January 2022, and Nomisma, which raised $631,951 in June 2022. These transactions highlight Crowdcube's role in supporting businesses that provide tax-related services, further establishing its relevance in the tax preparation industry.
7. Apex Group Ltd (UK & Ireland)
- Website: apexgroup.com
- Type: Private Equity
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 2003
- Headcount: 10001+
- Number of deals in 2024: 6
- LinkedIn: apex-fund-services-ireland-ltd-
Apex Group Ltd (UK & Ireland) is a prominent private equity investor based in London, England, founded in 2003. The firm provides a comprehensive range of financial services, including fund administration, regulatory compliance, and digital banking solutions, catering to asset managers, corporates, family offices, and financial institutions. In recent years, Apex Group has made strategic acquisitions to bolster its service offerings in the tax preparation sector. Notably, in July 2023, they acquired AXESS Accounting Office, a Japan-based firm that provides corporate services, including tax advisory, to over 300 clients. Additionally, in April 2022, they acquired a majority shareholding in FTS, a tax services firm focused on the Alternative Investment and Family Office sectors, further enhancing their presence in the tax advisory market. These acquisitions reflect Apex Group's commitment to expanding its capabilities in tax preparation and advisory services, making it a relevant player in this industry.
8. The Access Group
- Website: theaccessgroup.com
- Type: Corporate
- Headquarters: Loughborough, England, United Kingdom (UK)
- Founded year: 1991
- Headcount: 5001-10000
- Number of deals in 2024: 12
- LinkedIn: accessgroup
The Access Group is a corporate investor based in Loughborough, England, founded in 1991. It is a business software company that provides a range of IT solutions, including care management software, recruitment CRM systems, and payroll systems, serving over 100,000 organizations across various sectors. In recent years, The Access Group has made significant acquisitions to strengthen its position in the accounting technology sector. Notably, in February 2024, they acquired ChangeGPS, an Australian compliance and advisory software company, to enhance their offerings for accounting firms. This acquisition aligns with their strategy to bolster their presence in the tax preparation industry. Additionally, their acquisition of Reckon in May 2022 for $100 million further emphasizes their commitment to expanding their capabilities in accounting and tax preparation solutions. These transactions highlight The Access Group's focus on providing innovative software solutions that support tax preparation and compliance for accounting professionals.
9. Ey
- Website: ey.com
- Type: Corporate
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 1989
- Headcount: 10001+
- Number of deals in 2024: 3
- LinkedIn: ernstandyoung
EY (Ernst & Young) is a leading professional services firm founded in 1989, headquartered in London, England. With over 10,000 employees, EY provides a comprehensive range of services, including assurance, tax, consulting, and advisory. The firm has been actively involved in various acquisitions to strengthen its market position and enhance its service offerings. Notably, EY's acquisition of Innovalue Management in 2016 and Gensquared in 2022 reflects its commitment to expanding its capabilities in data analytics and consulting, which are crucial for effective tax preparation and advisory services. Additionally, their acquisition of Arthur Andersen's German units in 2002 significantly bolstered their audit and accounting services, further solidifying their expertise in tax-related matters. Through these strategic moves, EY continues to support businesses in navigating complex tax challenges and achieving sustainable growth.
10. TMF Group
- Website: tmf-group.com
- Type: Corporate
- Headquarters: Amsterdam, North Holland, Netherlands
- Founded year: 1988
- Headcount: 10001+
- Number of deals in 2024: 5
- LinkedIn: tmf-group
TMF Group B.V., founded in 1988 and based in Amsterdam, is a leading professional services firm that provides essential administrative services, including accounting, tax, HR administration, and global payroll services. With a workforce of over 10,000 employees, TMF Group serves a diverse clientele, including corporates and financial institutions, helping them navigate complex regulations and maintain compliance across multiple jurisdictions. In recent years, TMF Group has significantly expanded its tax preparation capabilities through strategic acquisitions. Notable transactions include the acquisition of Avanzia Taxand Limited in August 2023, aimed at enhancing their tax services in Malta and southern Europe, and the acquisition of Contexpert in December 2023, a Romanian firm specializing in accounting, audit, tax, and payroll services. Additionally, their acquisition of Auren S.C. in August 2024 further strengthens their tax and HR services in the Latin American market. These acquisitions reflect TMF Group's commitment to enhancing its tax preparation services globally.
11. Cinven
- Website: cinven.com
- Type: Private Equity
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 1977
- Headcount: 201-500
- Number of deals in 2024: 6
- LinkedIn: cinven
Cinven Limited is a private equity firm based in London, England, founded in 1977. The firm specializes in investment management and focuses on acquiring and transforming businesses across various sectors, including healthcare, consumer, and technology. Cinven partners with management teams to implement growth strategies and enhance operational efficiency, catering primarily to institutional investors seeking substantial returns on their investments. In the tax preparation context, Cinven has made notable acquisitions, including TaxACT, a US tax software business acquired for approximately $720 million in November 2022, aimed at establishing a comprehensive tax solutions provider. Additionally, in February 2021, Cinven invested in Drake Software, a leading tax preparation software provider, further emphasizing their commitment to the tax preparation industry. These strategic investments highlight Cinven's role as a significant player in the tax preparation market.
12. DST Global
- Website: dst-global.com
- Type: Venture Capital
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 2009
- Headcount: 11-50
- Number of deals in 2024: 24
- LinkedIn: dst_2
DST Global is a venture capital investment firm based in London, England, founded in 2009 by Yuri Milner. The firm specializes in internet investments and aims to identify and invest in some of the fastest-growing and most valuable internet companies globally. In recent years, DST Global has been involved in several significant transactions, including a notable investment in Pennylane, a French accounting startup that raised $43 million in Series C funding in February 2024, achieving unicorn status with a valuation exceeding $1 billion. This investment highlights DST Global's interest in the financial services sector, particularly in companies that provide accounting and financial management solutions, which are essential for tax preparation. Other investments include Wealthsimple, a financial services platform, and Brinta, indicating a broader interest in fintech and related sectors.
13. Sage
- Website: sage.com
- Type: Corporate
- Headquarters: Newcastle Upon Tyne, England, United Kingdom (UK)
- Founded year: 1991
- Headcount: 10001+
- Number of deals in 2024: 8
- LinkedIn: sage-software
Sage Group plc is a technology company based in Newcastle Upon Tyne, England, specializing in enterprise software solutions tailored for small and medium-sized businesses. Founded in 1991, Sage has a global presence and focuses on ERP and business management tools. In recent years, Sage has actively invested in the accounting and tax preparation sector, exemplified by its acquisition of GoProposal, which enhances its offerings for accounting firms, and Futrli, a platform that aids businesses in managing cash flows. Additionally, Sage participated in funding rounds for companies like Bench, a bookkeeping service, and Countingup, which provides banking and accounting solutions for small businesses. These strategic moves highlight Sage's dedication to improving financial management and tax preparation services for its clients.
14. Inflexion
- Website: inflexion.com
- Type: Private Equity
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 1999
- Headcount: 51-200
- Number of deals in 2024: 10
- LinkedIn: inflexion-private-equity
Inflexion Private Equity Partners LLP is a private equity firm based in London, England, founded in 1999. The firm specializes in investment management and growth strategies for businesses across various sectors, including Consumer, Healthcare, and Technology. Inflexion has been actively involved in the tax preparation industry through its recent transactions, notably acquiring a minority stake in Baker Tilly Netherlands, a firm with a significant turnover in the accounting sector, which is expected to leverage Inflexion's expertise for growth and innovation. Additionally, their investments in TC Group and Auxadi, both of which provide consultancy services that may encompass tax-related advice, further highlight their engagement in the tax preparation context. Inflexion's strategic approach aims to partner with companies to help them achieve their growth ambitions through capital investment and guidance.
15. Eurazeo
- Website: eurazeo.com
- Type: Private Equity
- Headquarters: Paris, Île-De-France, France
- Founded year: 1969
- Headcount: 201-500
- Number of deals in 2024: 40
- LinkedIn: eurazeo
Eurazeo is a prominent investment management firm based in Paris, specializing in private equity, private debt, and real assets. Founded in 1969, the firm has established a significant presence in the investment management landscape across Europe. Eurazeo focuses on tailored investment strategies aimed at fostering growth and expansion in various sectors, including technology and healthcare. Notably, Eurazeo has made strategic investments in companies relevant to the tax preparation industry, such as Fintrax Group Holdings, which provides VAT refund services, and ChainTrust, a developer of automated accounting solutions. These investments highlight Eurazeo's commitment to sectors that intersect with tax preparation, showcasing their versatility and strategic approach to investment.
Tax Preparation Insights: Key Investors in Europe
| Investor | Headquarter | Size | Founded | Deals 2024 |
|---|---|---|---|---|
| Visma | Oslo, Oslo, Norway | 10001+ | 1996 | 16 |
| Wolters Kluwer | Alphen Aan Den Rijn, South Holland, Netherlands | 10001+ | 1836 | 4 |
| Index Ventures | London, England, United Kingdom (UK) | 51-200 | 1996 | 67 |
| Seedcamp | London, England, United Kingdom (UK) | 11-50 | 2007 | 40 |
| Speedinvest | Vienna, Vienna, Austria | 51-200 | 2011 | 45 |
| Crowdcube | London, England, United Kingdom (UK) | 51-200 | 2010 | 3 |
| Apex Group Ltd (UK & Ireland) | London, England, United Kingdom (UK) | 10001+ | 2003 | 6 |
| The Access Group | Loughborough, England, United Kingdom (UK) | 5001-10000 | 1991 | 12 |
| Ey | London, England, United Kingdom (UK) | 10001+ | 1989 | 3 |
| TMF Group | Amsterdam, North Holland, Netherlands | 10001+ | 1988 | 5 |
| Cinven | London, England, United Kingdom (UK) | 201-500 | 1977 | 6 |
| DST Global | London, England, United Kingdom (UK) | 11-50 | 2009 | 24 |
| Sage | Newcastle Upon Tyne, England, United Kingdom (UK) | 10001+ | 1991 | 8 |
| Inflexion | London, England, United Kingdom (UK) | 51-200 | 1999 | 10 |
| Eurazeo | Paris, Île-De-France, France | 201-500 | 1969 | 40 |
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