BBVA Spark, the banking arm for high-growth innovative companies, has granted €4m in financing to TaxDown, a FinTech specialising in digital taxation, to accelerate its growth and expand its artificial intelligence capabilities.
The financing will fund the development of new AI-based solutions and the expansion of TaxDown’s technological team.
The deal benefits from the support of the European Union’s NextGenerationEU programme and the European Investment Fund, with Spain backing it through the InvestEU State compartment.
TaxDown was founded in 2019 by Enrique García, Álvaro Falcones and Joaquín Fernández. The platform combines proprietary technology with artificial intelligence and expert advice to help individuals plan, optimise and file their taxes.
It has attracted over four million users and more than 500 companies have engaged its services as a technology partner. The company is active in Spain and Mexico, where it has established itself as one of the leading platforms in its segment.
It is also an official partner of the Spanish Tax Agency and a member of the Asociación Española de Asesores Fiscales (AEDAF). In 2024, one in four customers who used TaxDown saved an average of €300 on their tax return, and the company has managed over €1.5bn in taxes to date.
In 2025, TaxDown’s year-on-year income growth from sales surpassed 100%, as the company reached profitability and cemented its status as one of the most efficient tech scale-ups in the European FinTech sector. Through its platform, users can file tax returns, identify applicable deductions, receive personalised advice, manage additional fiscal procedures and consult with experts.
TaxDown CEO and co-founder Enrique García said, “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.”
BBVA Spark head of BBVA Spark in Europe Miguel Ángel Alcalá said, “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.”
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