The 40 employees of TaxScouts, including CEO Malcolm Cowley, who will continue to oversee the company under Taxfix, and founders Kaupo Korv and Daniel Karger, who will stay in their roles as CPO and CTO, respectively, will be acquired by the Berlin-based organization as part of the deal.

The TaxScouts platform was officially launched in 2018 and provides a network of over 150 qualified accountants as well as a variety of bookkeeping and advice tools to those who are obliged to submit a self assessment tax return, including landlords, investors, single traders, and expats.

Octopus Ventures, SpeedInvest, and Seedcamp are among the investors who have contributed £9.2 million to the startup, which says it has helped five million clients thus far. It continues to be present in the markets of Estonia and Spain as well.

In addition to running tax expert services and a mobile tax filing app throughout Germany, Spain, and Italy, Taxfix claims that this most recent acquisition will "unlock significant growth opportunities across Europe" and accelerate its growth in the UK, a market with "significant growth potential."

The acquisition is "a significant step in our European expansion," according to Taxfix CEO Martin Ott. The two businesses want to "break down barriers and empower users to take control of their finances, starting with their tax return."

He continues, "combining our teams' strengths will enable us to better address the diverse needs of all taxpayers throughout Europe and assist even more people."

The deal's financial details have not been made public.