Madrid-based fintech TaxDown has secured 4 million euros in fresh funding as it ramps up its AI-powered tax filing platform. The investment comes from Bonsai Partners and will fuel the company’s plans to expand its team, upgrade its technology, and sharpen its user experience.
Founded in 2019 by Enrique García, Álvaro Falcones, and Joaquín Fernández, TaxDown is changing how individuals approach their taxes. The platform uses artificial intelligence to analyze current tax laws and apply relevant deductions automatically. The result is a streamlined process that allows users to complete their tax returns in just a few minutes.
With a team of over 200 tax professionals backing the platform, TaxDown ensures each return is both accurate and optimized. The company has already simulated more than 2 million personal income tax returns and has become a market leader in both Spain and Mexico. Its growing popularity is evident in its 4.7-star rating on Google and more than 30000 user reviews.
Unlike many startups chasing massive funding rounds, TaxDown is focused on sustainable growth. Co-founder and CEO Enrique García believes in building solid operations over hype. He explains that the company’s model is proof that it is possible to scale efficiently while staying profitable. By using AI smartly and managing resources well, TaxDown continues to grow without the need for excessive capital.
With the new round of funding, the startup is doubling down on AI development. Upcoming features include virtual advisors that will provide more guidance throughout the tax filing process. The goal is to offer a tax experience that is paperless personalized and completely seamless.
Behind the scenes TaxDown is using AI not just to improve the customer interface but also to supercharge its internal operations. The platform helps advisors work up to 200 times more efficiently by automating tasks such as filtering data drafting responses and updating information based on the latest tax regulations. This allows the team to focus on delivering high-quality service while the tech takes care of repetitive processes.
This funding round was led by Bonsai Partners one of the most experienced venture firms in Spain with a portfolio that includes major names like Idealista Wallapop and Glovo. Previous investors including Base10 JME Ventures 4Founders Atresmedia and Mediaset have also reaffirmed their commitment to TaxDown’s long-term vision.
The company is already generating over 10 million euros in revenue and with this new injection of capital aims to deepen its footprint in Spain and expand further into Latin America. With a strong focus on user satisfaction and continuous innovation TaxDown is well-positioned to redefine the future of tax services in these markets.
By merging smart automation with expert human oversight TaxDown is building a future where taxes are less stressful more transparent and much more efficient. As more people seek better ways to handle their finances TaxDown’s model offers a compelling alternative that’s fast fair and tech-savvy.
