Taxes are rarely described as simple. For most people, they feel confusing, slow, and full of small rules that are easy to miss. That friction is exactly what Spanish fintech TaxDown set out to solve. And now the company has secured new financing to push that mission further.

BBVA’s startup-focused unit, BBVA Spark, has granted TaxDown €4 million in financing to support its growth and expand its artificial intelligence capabilities.

A tax platform built around automation and advice

TaxDown was founded in 2019 by Enrique García, Álvaro Falcones, and Joaquín Fernández. The company focuses on digital taxation and combines its own technology, artificial intelligence, and expert tax support.

The goal is straightforward: help individuals manage taxes more easily. Through the platform, users can file tax returns, identify eligible deductions, receive tailored advice, and handle other fiscal procedures from a single interface. The system uses AI to automate complex steps and assist human tax experts in delivering more efficient support.

The approach has gained traction. TaxDown reports more than four million users and over 500 companies using its services as a technology partner. The company operates primarily in Spain and Mexico, where digital tax tools are becoming increasingly relevant as financial services continue to move online.

Why BBVA Spark is financing this growth

The €4 million financing will support several priorities for TaxDown. The company plans to expand its engineering and technology team while continuing to develop new AI-driven features. These improvements are aimed at further automating tax processes and making guidance more personalized for users.

The financing is also supported by European initiatives, including the NextGenerationEU program and the European Investment Fund, with additional backing through Spain’s InvestEU state compartment.

For BBVA Spark, the deal fits its focus on supporting high-growth technology companies. The unit provides financial services tailored to startups and venture-backed companies, ranging from basic banking products to more structured financing solutions.

A fintech that reached scale and profitability

TaxDown’s growth over the past few years is notable. In 2025, the company reported year-over-year revenue growth exceeding 100 percent and reached profitability.

Its platform has also processed more than €1.5 billion in taxes, becoming one of the most widely used private tools for personal tax returns in Spain.

The partnership between BBVA and TaxDown is not entirely new. Since 2023, BBVA customers have been able to file tax returns through the bank’s channels using TaxDown’s technology. The new financing signals a next step in that relationship as the fintech expands its AI capabilities and geographic footprint.

Key takeaways for fintech startups

A few practical lessons stand out from this development.

• Building a product around a specific operational pain point can unlock strong user adoption. Taxes are complicated, and solving that complexity creates real demand.
  
  
• Artificial intelligence becomes far more useful when paired with human expertise and clear workflows, rather than used as a standalone tool.
  
  
• Growth backed by profitability and operational efficiency can open the door to structured financing such as venture debt or bank-backed funding.
  
  
• Strategic partnerships with banks can create distribution channels and product integrations that accelerate adoption.

If you are building a fintech startup and want help shaping your strategy, positioning, or growth roadmap, reach out to us.