Spanish startup TaxDown has raised €4 million in contemporary funding from Bonsai Companions to additional develop its AI-powered platform and enhance how individuals handle their taxes. The corporate, already producing over €10 million in income, plans to make use of the capital to develop its staff, improve its expertise, and proceed refining the person expertise.
Based in 2019 by Enrique García, Álvaro Falcones, and Joaquín Fernández, TaxDown has modified how tens of millions of individuals in Spain and Latin America file their tax returns. Its expertise routinely analyses present laws to use all related deductions, letting customers full their returns in just some minutes. Behind the platform is a staff of greater than 200 tax advisors, serving to guarantee every return is correct and optimised.
What makes TaxDown stand out is its dedication to rising in a sustainable and measured means. At a time when many startups chase giant funding rounds, TaxDown has taken a unique strategy—specializing in constructing robust foundations, environment friendly operations, and tech-driven impression.
“We don’t imagine mega-rounds are a synonym for achievement,” stated Enrique García, CEO and co-founder. “Our mannequin proves it’s doable to scale effectively, make AI work for individuals, and keep worthwhile—without having to lift a whole bunch of tens of millions.”
AI on the coronary heart of the platform
With this new funding, TaxDown is doubling down on AI. The corporate plans to roll out new options that additional automate the tax course of and introduce digital advisor instruments to information customers alongside the best way. The purpose: a paperless, personalised, and seamless tax expertise.
Thus far, TaxDown has simulated over 2 million private revenue tax returns and leads the market in submitting quantity in each Spain and Mexico. With greater than 30,000 person evaluations and a 4.7-star score on Google, the platform has earned the belief of a large person base. Internally, its AI techniques assist tax advisors work as much as 200 instances extra effectively—automating duties like knowledge filtering, drafting responses, and conserving groups up to date with real-time adjustments in tax legal guidelines.
“Synthetic intelligence permits us to develop quick with out including complexity,” García added. “We’re processing tens of millions of knowledge factors with a stage of personalisation that may have been inconceivable not way back—delivering actual financial savings and peace of thoughts to our customers.”
The spherical was led by Bonsai Companions, one in all Spain’s most skilled VC corporations, with a monitor report that features Idealista, Wallapop, and Glovo. Current traders Base10, JME Ventures, 4Founders, Atresmedia, and Mediaset have additionally reaffirmed their help, backing TaxDown’s long-term imaginative and prescient.
