BBVA Spark Completes €4 Million Financing Deal with TaxDown to Boost its Growth and Strengthen its AI-Powered Solutions
BBVA Spark has granted €4 million in financing to TaxDown, a fintech specialized in digital taxation in Spain with a presence in Latin America. The operation will accelerate the company’s growth, the development of new AI-based solutions and the expansion of its technological team. This financing benefits from the support of the European Union – NextGenerationEU and the European Investment Fund, with with Spain supporting the program through the InvestEU State compartment.
Founded in 2019 by Enrique García, Álvaro Falcones and Joaquín Fernández, TaxDown is a fintech specialized in digital taxation that combines its in-house technology with artificial intelligence and expert advice to help individuals plan, optimize and file their taxes simply and securely. TaxDown has over four million users and more than 500 companies have used their services as a technological partner. The company operates in Spain and Mexico, where it has established itself as one of the leading platforms in its segment.
“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.
In 2025, TaxDown’s year-over-year growth in income from sales surpassed 100 percent, reaching profitability and establishing the company as one of the most efficient tech scale-ups in the European fintech sector. Furthermore, artificial intelligence is at the heart of TaxDown’s business model, enabling it to automate processes, personalize tax advice and multiply the efficiency of human experts. Through its platform, users can file their tax returns, identify applicable deductions, receive personalized advice, manage additional fiscal procedures and consult with experts on any questions.
“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,” said Miguel Ángel Alcalá, Head of BBVA Spark in Europe.
Beyond this financing transaction, BBVA and TaxDown have a long-standing relationship. Thanks to this collaboration, BBVA customers have been able to file their tax returns through bank channels since 2023. In partnership with TaxDown, the ability to open an account using Cl@ve PIN was also introduced, halving the time needed to complete the process.
BBVA Spark, financing for high growth startups and tech companies
BBVA Spark is the bank for high growth innovative companies and venture capital funds. BBVA Spark enables all its clients to cover their financing needs in a single place – from basic products, such as collections/payments, payroll and cards, to structured financing products, such as venture debt and asset-backed lending, adapted to companies that are more advanced in their development or that already have venture capital investors on their cap table.
Since its launch in 2019, TaxDown has positioned itself as a leader in digital taxation. It has become the platform that processes the most personal tax returns in Spain, surpassing any other private tool or traditional advisory service. With an active presence in Spain and Mexico, the company has managed over €1.5 billion in taxes. In addition, it is an official partner of the Spanish Tax Agency and a member of the Asociación Española de Asesores Fiscales (Spanish Association of Tax Advisors, AEDAF). One out of every four customers who used TaxDown in 2024 saved an average of €300 on their tax return.