TaxDown, a Madrid-based FinTech startup specialised in digital taxation, has secured €4 million in financing from BBVA Spark to speed up its development, develop new AI-based options and increase its tech group.
This financing advantages from the assist of the European Union – NextGenerationEU and the European Funding Fund, with Spain supporting the programme by means of the InvestEU State compartment.
“Having BBVA Spark as a monetary companion means an ideal deal to us. This financing will allow us to proceed investing in synthetic intelligence, bettering our product and simplifying the monetary lives of hundreds of thousands of individuals. We wish managing taxes to cease being sophisticated and develop into an automatic, clear and accessible expertise,” mentioned Enrique García, CEO and co-founder of TaxDown.
Based in 2019 by Enrique García, Álvaro Falcones and Joaquín Fernández, TaxDown is a FinTech specialised in digital taxation. It claims to mix its in-house know-how with synthetic intelligence and skilled recommendation to assist people plan, optimise and file their taxes merely and securely. It’s an authorised companion of the Spanish Tax Company and a member of the Asociación Española de Asesores Fiscales (Spanish Affiliation of Tax Advisors, AEDAF).
In accordance with the corporate, the AI on the core of its enterprise mannequin permits it to automate processes, personalise tax recommendation and multiply the effectivity of human specialists. By means of its platform, customers can file their tax returns, determine relevant deductions, obtain personalised recommendation, handle extra fiscal procedures, and seek the advice of with specialists on any questions.
The corporate operates in Spain and Mexico, serving over 4 million customers and greater than 500 firms as a technological companion. It claims to have managed over €1.5 billion in taxes.
In 2025, TaxDown reported that its year-over-year development in earnings from gross sales surpassed 100%, reaching profitability. In 2025, TaxDown raised €4 million in recent funding led by Bonsai Companions. In 2024, it raised €5 million, and in 2022, it secured €5.5 million
BBVA Spark is the financial institution for high-growth progressive firms and enterprise capital funds. It permits all shoppers to fulfill their financing wants by means of a single platform, providing every thing from primary merchandise like collections, funds, payroll, and playing cards to structured financing choices resembling enterprise debt and asset-backed lending. These are tailor-made for firms which might be extra developed or have already got enterprise capital buyers on their cap tables.
“At BBVA Spark, we put money into firms that not solely digitise conventional sectors, they redefine them. We met TaxDown at 4YFN and since then, now we have intently adopted their progress. They’re altering the best way hundreds of thousands of individuals deal with their taxes, combining synthetic intelligence, operational effectivity and a radically user-centric expertise. With this financing, we’re fostering a brand new stage of development to consolidate their management in Europe and Latin America,” mentioned Miguel Ángel Alcalá, Head of BBVA Spark in Europe.
Past this monetary transaction, BBVA and TaxDown share a longstanding relationship. By means of this partnership, BBVA clients have been capable of file their tax returns by way of financial institution channels since 2023. Moreover, in collaboration with TaxDown, an account opening function utilizing Cl@ve PIN (a Spanish digital identification system permitting customers to entry public administration providers) was launched, lowering the time required to finish the method by half.
