ExpressGroup: € 25 million from Project A and Insight Partners
Hamburg/ New York/ Berlin — Hamburg-based FinTech company ExpressGroup, founded in 2019, has raised a Series A financing with a total volume of € 25 million. This was led by Project A Ventures and Insight Partners.
Using an AI-powered backend system, ExpressGroup enables platform providers such as accounting firms, tax advisors and lawyers to process tax files within minutes. The system combines machine learning and automation capabilities with manual labor to ensure easier, faster and more accurate processing of income tax returns. The first product, ExpressTax, offers users the ability to submit the required data within 10 minutes and, on the other hand, provides process intelligence and automation for tax professionals. In less than 12 months, they have thus increased to a total volume of receivables of € 45 million.
Following on from its promising growth in Germany, ExpressGroup is now turning its focus to the larger EU tax market. The additional funds will be spent on the company’s international expansion and the launch of further products in additional FinTech areas.
About Project A Ventures
Project A (photo: management team, © Project A) is one of the leading venture capital firms in Europe with offices in Berlin and London.In addition to approximately $600 million in assets under management, Project A supports its portfolio companies with a team of more than 100 experts in software and product development, business intelligence, branding, design, marketing, sales and recruiting. Project A was founded in 2012 and has since supported more than 100 startups.
The portfolio includes companies such as Trade Republic, WorldRemit, sennder, KRY, Spryker, Catawiki and Voi.
ExpressGroup wants to redesign fintech products for the working and middle class, starting with taxes. The goal is for everyone to be able to reclaim overpaid taxes from the tax office — regardless of income, language barriers or knowledge of the tax system. The company was founded in 2019 by Maximilian Lambsdorff, Dennis Konrad, Konstantin Loebner, Mehdi Afridi and Andreas Santoro. ExpressGroup’s first product, “ExpressTax”, has been on the market since 2021 and has already helped thousands of customers who have never filed a tax return before to do so within minutes.
Advisor Project A Ventures:
Dr. Frederik Gärtner (Lead, Corporate/Transactions), Partner , Tobias Lovett (Corporate/Transactions), Senior Associate , Matthias Kresser (Finance), Associated Partner , Dr. Benedikt Flöter (IP/IT), Associated Partner, Anna Eickmeier (Data Protection), Senior Associate, Dr. Niklas Ulrich (Regulatory), Associate, Stefan Richter (Tax), Partner, Lukas Schmitt (Tax), Associate
Advisors to Insight Partners: Willkie Farr & Gallagher LLP
The Willkie team was led by the partners Miriam Steets and Dr. Axel Wahl (both Corporate/M&A, Frankfurt) and included partners Matthew Haddad (Corporate M&A, New York) and Dr. Jens- Olrik Murach (Antitrust, Brussels), counsel Wulf Kring (Tax, Frankfurt) and associates Dr. Tobias Gerigk and Nils Bock (both Corporate/M&A, Frankfurt).