TaxDown, a Madrid-based FinTech startup specialised in digital taxation, has secured €4 million in financing from BBVA Spark to accelerate its growth, develop new AI-based solutions and expand its tech team.
This financing benefits from the support of the European Union – NextGenerationEU and the European Investment Fund, with Spain supporting the programme through the InvestEU State compartment.
“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.
Founded in 2019 by Enrique García, Álvaro Falcones and Joaquín Fernández, TaxDown is a FinTech specialised in digital taxation. It claims to combine its in-house technology with artificial intelligence and expert advice to help individuals plan, optimise and file their taxes simply and securely. It is an authorised partner of the Spanish Tax Agency and a member of the Asociación Española de Asesores Fiscales (Spanish Association of Tax Advisors, AEDAF).
According to the company, the AI at the core of its business model enables it to automate processes, personalise tax advice and multiply the efficiency of human experts. Through its platform, users can file their tax returns, identify applicable deductions, receive personalised advice, manage additional fiscal procedures, and consult with experts on any questions.
The company operates in Spain and Mexico, serving over four million users and more than 500 companies as a technological partner. It claims to have managed over €1.5 billion in taxes.
In 2025, TaxDown reported that its year-over-year growth in income from sales surpassed 100%, reaching profitability. In 2025, TaxDown raised €4 million in fresh funding led by Bonsai Partners. In 2024, it raised €5 million, and in 2022, it secured €5.5 million
BBVA Spark is the bank for high-growth innovative companies and venture capital funds. It allows all clients to meet their financing needs through a single platform, offering everything from basic products like collections, payments, payroll, and cards to structured financing options such as venture debt and asset-backed lending. These are tailored for companies that are more developed or already have venture capital investors on their cap tables.
“At BBVA Spark, we invest in companies that not only digitise traditional sectors, they redefine them. We met TaxDown at 4YFN and since then, we have closely followed their progress. They are changing the way millions of people handle their taxes, combining artificial intelligence, operational efficiency and a radically user-centric experience. With this financing, we are fostering a new stage of growth to consolidate their leadership in Europe and Latin America,” said Miguel Ángel Alcalá, Head of BBVA Spark in Europe.
Beyond this financial transaction, BBVA and TaxDown share a longstanding relationship. Through this partnership, BBVA customers have been able to file their tax returns via bank channels since 2023. Additionally, in collaboration with TaxDown, an account opening feature using Cl@ve PIN (a Spanish digital identification system allowing users to access public administration services) was introduced, reducing the time required to complete the process by half.
Read the orginal article: https://www.eu-startups.com/2026/03/madrid-based-taxdown-secures-e4-million-from-bbva-spark-to-scale-ai-driven-digital-tax-platform/
