ExpressSteuer
Bringing real convenience to the €50B german income tax market and solves a major pain point of every second german taxpayer.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| investor investor investor | €0.0 | round | |
* | €25.0m | Series A | |
| Total Funding | 000k | ||
| EUR | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 2168 % | 264 % | 188 % | 16 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | - | (332 %) | (362 %) | - | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article, Dealroom estimates
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ExpressSteuer GmbH, operating in the German tax technology market, provides a digital platform designed to simplify the tax return process for individuals. Established in 2019, the Hamburg-based company was founded by a team including Maximilian Lambsdorff, Dennis Konrad, Konstantin Loebner, Mehdi Afridi, and Andreas Santoro. The foundational concept dates back to 2015 with the creation of Millennial Solutions UG by Loebner and Afridi, which later evolved into ExpressSteuer. The founders identified a significant market opportunity, noting that millions of German workers do not file tax returns, thereby forgoing substantial refunds.
The company targets the working and middle classes, a demographic it believes is underserved by the fintech industry. Its business model centers on user convenience. Clients use an AI-powered platform to answer a series of simple questions, a process that takes only a few minutes, without needing physical documents initially. The platform then calculates the expected refund and connects the user with a tax advisor who handles the submission and all communication with the tax authorities. Revenue is generated on a success-fee basis, where the company retains a 20% commission from the client's tax refund.
The company experienced rapid growth, securing a notable Series A funding round of approximately €25 million ($27 million) in April 2022, led by Insight Partners with participation from Project A. This funding was intended to fuel international expansion and the development of adjacent fintech products under the brand ExpressGroup. Prior to this, the startup had raised around €4.3 million from various business angels. However, despite its promising start and substantial funding, ExpressSteuer filed for insolvency in December 2023. The company, along with its related entities, subsequently ceased operations, and the ExpressGroup brand was liquidated in March 2024.
Keywords: tax return, fintech, digital tax service, tax preparation, German market, AI-powered, tax refund, commission-based, tax advisory, insolvency