Madrid-based fintech TaxDown has secured €4 million in financing from BBVA Spark to accelerate growth and expand its artificial intelligence capabilities across its digital tax platform.
BBVA Spark, the banking arm focused on high-growth startups and venture-backed technology companies, provided funding to support TaxDown’s product development, technology hiring, and the expansion of AI-driven features designed to simplify tax management for individuals.
Founded in 2019 by Enrique García, Álvaro Falcones, and Joaquín Fernández, TaxDown combines proprietary technology, artificial intelligence, and expert advisory services to help users plan, optimize, and file their taxes more efficiently. The platform allows individuals to identify eligible deductions, receive personalized tax advice, complete tax returns, and consult tax professionals through a single digital interface.
The company has grown rapidly in recent years and now serves more than 4 million users while partnering with over 500 companies as a technological provider. TaxDown currently operates in Spain and Mexico, where it has become one of the leading digital tax platforms in its category.
According to the company, artificial intelligence plays a central role in its platform, automating complex tax processes while improving the efficiency of human tax experts. The technology enables users to receive tailored recommendations and faster support when managing tax-related procedures.
TaxDown reported that its sales revenue grew by more than 100 percent year over year in 2025, reaching profitability and positioning the company among the more efficient technology scale-ups in the European fintech sector.
The new financing will support further product innovation and expansion while reinforcing TaxDown’s position in the digital taxation market across Europe and Latin America. The funding also benefits from support tied to European Union initiatives including NextGenerationEU and the European Investment Fund through the InvestEU program.
BBVA and TaxDown have collaborated previously, enabling BBVA customers since 2023 to file tax returns directly through the bank’s channels. The partnership also introduced account opening through Spain’s Cl@ve PIN system, which reduced onboarding time by half.
KEY QUOTES
“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.”
Enrique García, CEO And Co-Founder Of TaxDown
“At BBVA Spark, we invest in companies that not only digitize 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.”
Miguel Ángel Alcalá, Head Of BBVA Spark In Europe
