Madrid-Based TaxDown Raises €4M From BBVA Spark To Expand AI-Powered Tax Platform

The financing is supported by the European Union’s NextGenerationEU programme and the European Investment Fund, with Spain contributing through the InvestEU State compartment.

TaxDown, founded in 2019 by Enrique García, Álvaro Falcones, and Joaquín Fernández, is a fintech specializing in digital taxation. The company combines proprietary technology, artificial intelligence, and expert advice to help individuals plan, optimize and file their taxes simply and securely. TaxDown is an authorized partner of the Spanish Tax Agency and a member of the Asociación Española de Asesores Fiscales (AEDAF).

Its AI-driven platform automates processes, personalizes tax advice, and enhances the efficiency of human experts. Users can file returns, identify deductions, receive guidance, manage additional fiscal procedures, and consult with tax specialists through a single platform.

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Operating in Spain and Mexico, TaxDown serves over four million users and more than 500 companies as a technology partner, managing over €1.5 billion in taxes.

In 2025 TaxDown achieved over 100% year-over-year growth in income from sales and reached profitability. The company raised €4 million in funding led by Bonsai Partners in 2025, following previous rounds of €5 million in 2024 and €5.5 million in 2022.

BBVA Spark, the bank for high-growth innovative companies and venture capital funds, provides financing and banking services through a single platform, including venture debt, asset-backed lending, and traditional products like payroll, payments, and cards.

TaxDown and BBVA share a longstanding partnership. Since 2023, BBVA customers can file tax returns via bank channels, and a joint initiative introduced account opening using Cl@ve PIN, Spain’s digital identification system, cutting processing time by half.

“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. We want managing taxes to stop being complicated and become an automated, transparent and accessible experience,” said Enrique García, CEO and co-founder of TaxDown.