We developed a holistic approach for withholding tax recovery by rethinking all involved processes from the ground up. We are striving to find a common abstract layer for the withholding tax refund process that works in any country with any language via a web-based platform, while aiming for both private and institutional investors.
Country of incorporation: Germany, Luxembourg, Switzerland
Year of incorporation: 2020


Thomas Rappold, Co-Founder and CEO [email protected] | Julian Nalenz, Co-Founder and CTO [email protected] | Yves Elomo, Technical Managing Director [email protected]

Elevator Pitch

Divizend’s software helps institutional investors and financial services providers to reclaim their foreign dividend withholding tax by automating the process in an intuitive, streamlined, fully digital way to be more price-competitive and to better leverage international markets.

Our software helps private and institutional investors to reclaim their taxes by automating the refund process of foreign withholding tax on dividends in a novel, user-friendly and price-competitive way. Additionally, according to our claim “Find, Act, Maximize”, we are building an open wealth ecosystem with our own marketplace, securities API and database.

Problem Solved

Every time an investor receives dividends on a cross-border basis, they are taxed twice: with domestic income tax and foreign withholding tax. While the latter can be refunded on the basis of so-called “Double Taxation Agreements” between two states, unfortunately these refund opportunities are widely missed out. This is due to the fact that the respective procedures are very complex, require special tax knowledge, rely on paper-based reclaim forms and there is overall no standardization in these processes, which makes every country a unique case. This leads to investors either ignoring their opportunities and taking cuts in their dividend returns which they legally don’t have to, or them hiring an expensive tax consultant, who will still do every step of the reclaim manually and therefore charge a comparatively high fee due to his involved working-hours.

Solution / Technology

Divizend is the leading international wealth-tax FinTech platform for the fastest way to reclaim foreign dividend withholding taxes. Our software helps investors to reclaim their taxes by automating the withholding tax refund process. Divizend is the first FinTech worldwide to work on digitizing such a service in a novel, user-friendly and price-competitive way. With our holistic approach verbalized by the claim “Find, Act, Maximize”, Divizend‘s platform will be the central place for investors striving for high dividend earnings, as they will find only the most relevant insights, research, analytics and tax services there.

Market Size

About $90-100 billion of the $1.5 trillion worldwide annual dividends are withheld via foreign taxes each year; from this amount, approximately $18 billion, i.e. 20%, stay unreclaimed every year, mostly by private investors. Divizend intends to get a significant share in this market by becoming the market leader in B2C and B2B withholding tax refunding. In Luxembourg alone the unreclaimed amount is more than $1 bln yearly, according to a joint survey by ABBL/KPMG in 2022, approximately 40% of Luxembourg private banks do not offer a reclaim service to their customers.

Divizend intends to get a significant share in this market by becoming the market leader in B2C and B2B withholding tax refunding.

Relevant Links


Luxembourg - The epicenter of the Tokenization Era Whitepaper
White Paper

Luxembourg : The Epicenter Of The Tokenization Era Whitepaper

White paper Discover our white paper on integrating blockchain technology into the realm of securities. We explore how distributed ledger technology (DLT) addresses the limitations of traditional systems, enhancing transparency, […]
Read More