Berlin-based tax startup wundertax has raised €4 million in a Series A round led by PROfounders Capital and Capnamic Ventures and plans to expand internationally in 2018.
Wundertax’s service helps people file for tax refunds in a less complicated way. It is largely automated to serve people that aren’t too familiar with filing taxes and seeking refunds and who cannot afford to hire a tax consultant or accountant. It first started out by targeting students and has since diversified into other areas of the workforce. The startup launched the site germantaxes.de to help expats working in Germany to make sense of the German tax system.
It said that €40 million in tax refunds have been made through its services over the last two years.
“We want to make the subject of taxation accessible to everyone and allow every taxpayer the chance to claim a maximum tax refund with minimal effort, without prior specialist knowledge,” said CEO David Czaniecki.
Wundertax is planning to internationalise in the future with the aid of its new investors.
“The subject of taxation is becoming almost impossible to grasp, especially for young people. And here wundertax has done outstanding pioneering work in a very short time,” commented Sean Seton-Rogers, managing partner of PROfounders Capital. “Not only in Germany, but also in many other countries, there are tax systems waiting to be revolutionized. So we are pleased to be able to support wundertax’s new market initiatives.”