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.