TaxDown, a Madrid-based fintech startup specializing in digital taxation, has announced that it has secured €4 million in financing from BBVA Spark.This funding aims to accelerate TaxDown's growth, enhance its technology team, and develop new AI-powered tax solutions.
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eu-startups.comstartuprise.co.ukFounded in 2019 by Enrique García, Álvaro Falcones, and Joaquín Fernández, TaxDown aims to simplify the tax filing process for individuals and businesses by combining proprietary technology with artificial intelligence and expert advice.
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bbva.comThe company serves over four million users and more than 500 companies, managing over €1.5 billion in taxes.
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eu-startups.comthenextweb.comThe recent financing is backed by the European Union's NextGenerationEU recovery fund and the European Investment Fund, with additional support from Spain through the InvestEU program.
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eu-startups.com"Having BBVA Spark as a financial partner means a great deal to us.This financing will enable us to continue investing in artificial intelligence, improving our product and simplifying the financial lives of millions of people," stated Enrique García, CEO and co-founder of TaxDown.
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bbva.comTaxDown's platform allows users to file their tax returns, identify applicable deductions, receive personalized advice, and consult with experts on any questions.
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bbva.comeu-startups.comThe integration of AI is at the core of its business model, automating processes and enhancing the efficiency of human experts.
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eu-startups.comthenextweb.comThis approach has proven successful, as the company reported over 100% year-over-year growth in income from sales in 2025, marking its journey toward profitability.
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thenextweb.comstartuprise.co.ukBBVA Spark, the dedicated unit for high-growth companies within the Spanish banking giant, has a long-standing relationship with TaxDown.This partnership has allowed BBVA customers to file their tax returns via bank channels since 2023.
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bbva.comeu-startups.comAdditionally, the collaboration introduced an account opening feature using Cl@ve PIN, reducing the time needed to complete the process by half.
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eu-startups.com"At BBVA Spark, we invest in companies that not only digitize traditional sectors but also redefine them," said Miguel Ángel Alcalá, Head of BBVA Spark in Europe.He emphasized that TaxDown is changing the way millions of people handle their taxes through a user-centric experience.
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bbva.comthenextweb.comTaxDown has secured substantial funding in recent years, including €5 million in 2024 and €5.5 million in 2022.
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eu-startups.comstartuprise.co.ukThis latest round of financing will be utilized to expand its technology team and further develop AI-based features for its platform, although specific details about these features have not yet been disclosed.
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thenextweb.comstartuprise.co.ukWith its sights set on expanding into Latin America, where it launched operations in Mexico in 2022, TaxDown is poised to tackle the complexities of tax systems in the region.
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thenextweb.comThe funding from BBVA Spark is expected to support its international ambitions and solidify its position as a leader in digital taxation in both Europe and Latin America.
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eu-startups.comstartuprise.co.ukAs TaxDown continues to grow and innovate, its focus on combining technology with expert advice positions it well to meet the evolving needs of taxpayers in an increasingly digital landscape.
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thenextweb.comfintechfutures.comThe company's strategic capital approach, favoring structured debt over equity, reflects a deliberate effort to finance growth while minimizing dilution.
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thenextweb.comIn conclusion, TaxDown's €4 million financing from BBVA Spark marks a significant step in its mission to revolutionize tax management for individuals and businesses alike, leveraging technology to create a more efficient and accessible tax filing experience.
