The fintech company, which specialises in digital taxation in Spain and operates in Latin America, will use the funding to support its growth, develop new AI-based solutions, and expand its technology team.
Madrid-based TaxDown has secured €4 million in financing from BBVA Spark. The funding is supported by the European Union’s NextGenerationEU program and the European Investment Fund (EIF), with additional backing from Spain through the State Compartment of the InvestEU program.
Founded in 2019 by Enrique García, Álvaro Falcones, and Joaquín Fernández, TaxDown is a fintech company focused on digital taxation. The platform combines proprietary technology, artificial intelligence, and expert support to help individuals plan, optimise, and file their taxes in a simple and secure way.
Artificial intelligence plays a central role in the company’s business model, enabling process automation, personalised tax guidance, and greater efficiency for human experts. Through its platform, users can file tax returns, identify eligible deductions, receive personalised recommendations, manage additional tax procedures, and access expert advice.
Commenting on the investment, Enrique García, CEO and co-founder of TaxDown, said:
Having BBVA Spark as a financial partner is a very important step for us. This funding will allow us to continue investing in artificial intelligence, improve our product, and keep simplifying the financial lives of millions of people. We want managing taxes to stop being complex and become an automated, transparent, and accessible experience.
TaxDown operates in Spain and Mexico, has more than 4 million users, and over 500 companies use its services as a technology partner.
The new financing will support the company’s growth, the development of new AI-based solutions, and the expansion of its technology team.