Madrid-based startup TaxDown has raised €4 million in a new funding round led by Bonsai Partners to advance its AI-driven tax platform and reshape how individuals manage their taxes. Already surpassing €10 million in revenue, TaxDown plans to leverage the new capital to expand its team, sharpen its technology, and continue elevating the user experience.
Founded in 2019 by Enrique García, Álvaro Falcones, and Joaquín Fernández, TaxDown has revolutionized the way millions across Spain and Latin America file their taxes. The platform uses advanced AI to automatically interpret tax regulations and apply the right deductions, allowing users to complete their returns within minutes. Behind the tech is a network of over 200 tax advisors ensuring each filing is accurate and fully optimized.
What sets TaxDown apart is its deliberate, sustainable growth strategy. While many startups chase massive funding rounds, TaxDown has stayed committed to building solid foundations, efficient operations, and technology-first solutions.
AI at the Core of TaxDown’s Future
With the fresh funding, TaxDown is doubling down on AI innovation. The company plans to launch new features that automate even more of the tax process, including virtual advisory tools that will offer users real-time, personalized guidance. Their ultimate vision: a paperless, seamless, and personalized tax experience for everyone.
To date, TaxDown has simulated more than 2 million personal income tax returns and leads the Spanish and Mexican markets by filing volume. With over 30,000 user reviews and a stellar 4.7-star rating on Google, the platform has built a loyal and growing user base. Internally, AI is empowering TaxDown’s advisors to be up to 200 times more efficient, handling tasks like data filtering, response drafting, and instant updates on tax law changes.
The latest round was led by Bonsai Partners, one of Spain’s most seasoned venture capital firms with investments in success stories like Idealista, Wallapop, and Glovo. Existing investors including Base10, JME Ventures, 4Founders, Atresmedia, and Mediaset also reaffirmed their confidence in TaxDown’s long-term vision.
