TaxDown, a Madrid-based startup, has recently concluded a significant funding round, securing €5m to propel its growth.
The investment round was led by prominent funds including Base10 and JME Ventures, both known for their strategic investments across the United States and Latin America, according to a report from EU Startups. This round also welcomed participation from Abac Nest and the debut involvement of 4Founders Capital, a firm led by notable industry veterans including Javier Pérez Tenessa, the former CEO of eDreams.
Since its inception in 2019, TaxDown has rapidly emerged as the leading platform for tax filing in Spain, boasting the highest number of tax returns processed annually. The company has successfully managed over €750m in taxes for its two million users, saving them in excess of €100m. TaxDown’s platform is designed to simplify and streamline tax procedures, making it the go-to solution for taxpayers seeking reliable and efficient tax filing services.
The newly acquired funds are earmarked for further development and expansion of TaxDown’s capabilities, particularly to enhance its technological offering and expand its market reach in both Spain and Mexico. The focus is on continuing to leverage advanced technology to improve user experience and expand its customer base, aiming to increase its users to three million.
TaxDown CEO Enrique García emphasised the impact of the investment, stating, “Our goal this year is to reach 3 million users and continue to strengthen our presence in Latin America. Consequently, we will use this new round of financing to continue improving the product and carry on our growth in both Spain and Mexico, helping all taxpayers to file a correctly presented tax return, thanks to the best mix of technology and a human team.”
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