German fintech ExpressGroup lands €25m Series A
German fintech ExpressGroup, which wants to create more “tax justice” in the country, has landed a €25 million Series A funding round led by Insight Partners and Project A Ventures.
ExpressGroup aims to democratise financial services for Germany’s working class, “regardless of income, language barriers, or knowledge of the financial system”, says CEO Maximilian Lambsdorff.
The company, formerly ExpressSteuer, has also changed its name to reflect that going forward it will not just focus on its tax return product, “but also on other fintech verticals and international expansion”.
ExpressGroup was founded in 2019 by Lambsdorff, Dennis Konrad, Konstantin Loebner, Mehdi Afridi and Andreas Santoro and launched its tax simplifying platform in 2021.
Announcing the Series A on LinkedIn, Lambsdorff says that after a difficult year, the company eventually turned a profit in January and February of 2022.
Lambsdorff attributes the growth of the firm’s tax return product to three factors: removing friction, giving users cash and only making money if the user makes money.
“In the coming years, we will focus on building products in the fintech sector – always based on these three variables,” he adds.