Benchmark International successfully facilitated the acquisition of Human Robot (Pty) Ltd t/a TaxTim by a consortium led by Twofold Capital (Pty) Ltd

Benchmark International successfully facilitated the acquisition of Human Robot (Pty) Ltd t/a TaxTim by a consortium led by Twofold Capital (Pty) Ltd

Benchmark International is proud to announce the successful sale of Human Robot (Pty) Ltd t/a TaxTim to a private consortium led by Twofold Capital (Pty) Ltd. The consortium, which includes Stellenbosch-based technology group Octoco, provided a successful exit for Human Robot (Pty) Ltd t/a TaxTim’s non-operational shareholders and a partial exit for co-founder Evan Robinson, who will remain involved in the business and continue to lead product strategy. This transaction establishes a robust platform for Human Robot (Pty) Ltd t/a TaxTim’s next chapter, enabling the company to pursue sustainable expansion and deliver lasting success.

Twofold Capital is a private equity investment and advisory business focused on building, growing, and investing in enduring businesses for the long term. They leverage experience, networks, and capital to actively develop and enhance SMEs in Southern Africa.

Ed du Plessis, Director of Twofold Capital, said, “TaxTim has built a trusted brand, a loyal user base, and a track record of solving real customer problems in a market where simplicity and trust matter most. We see significant potential to enhance the core product and expand into adjacent services, which is why we’re especially excited to have the Octoco team on board. With advances in AI, there’s a real opportunity to make the tax experience even more personalised, automated, and accessible.”

Human Robot (Pty) Ltd t/a TaxTim is a pioneering force in South Africa's tax services sector. Established to streamline the daunting tax filing process, the company uses a conversational chat interface underpinned by robust, cloud-based technology to facilitate an effortless tax return experience. This digital service introduces "Tim," a virtual tax assistant that ensures users, irrespective of their financial acumen, can navigate their tax submissions with ease to optimise refunds. The company's rise to prominence, from seed funding by Google to a leading online tax service platform, is marked by a trajectory of consistent innovation and user-focused design, all guided by a team with deep institutional knowledge.

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Evan Robinson, co-founder of Human Robot (Pty) Ltd t/a TaxTim, commented on the acquisition: “I’m excited to see how the business will grow with this new injection of energy, expertise, and capital. It’s an honour to continue our original mission, making tax easy and accessible for all South Africans. I’m confident that with the support of Twofold and Octoco, we can build on what we’ve started and take TaxTim to the next level.”

Carol Atkinson, on behalf of MMI Holdings, a shareholder of TaxTim, added "Twofold was a natural selection for the next stage in TaxTim’s journey. They share the vision of making tax easier for clients and with their fresh enthusiasm and strong partnerships, Twofold is well-positioned to take TaxTim into its next phase of growth. It has been a privilege to support TaxTim’s evolution, and we are excited to see the business thrive under Twofold’s leadership.

Zelda de Kock, Transaction Senior Associate at Benchmark International, added: "From the very first meeting, the energy and synergy between the parties were undeniable - I knew this could mark the beginning of an exciting journey. Throughout the transaction, there was a consistent spirit of mutual respect and a shared commitment to achieving the best possible outcome for both sides. It has been a privilege to facilitate this process, and I look forward to seeing the strong platform created here, continue to grow and thrive.”

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