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 group, improve its expertise, and proceed refining the person expertise.
Based in 2019 by Enrique García, Álvaro Falcones, and Joaquín Fernández, TaxDown has modified how thousands and thousands of individuals in Spain and Latin America file their tax returns. Its expertise mechanically analyses present laws to use all related deductions, letting customers full their returns in just some minutes. Behind the platform is a group 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 manner. At a time when many startups chase massive funding rounds, TaxDown has taken a distinct strategy—specializing in constructing sturdy foundations, environment friendly operations, and tech-driven affect.
“We don’t consider 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—with no need to boost a whole bunch of thousands and thousands.”
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 way in which. The aim: a paperless, personalised, and seamless tax expertise.
To date, TaxDown has simulated over 2 million private earnings 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 ranking on Google, the platform has earned the belief of a large person base. Internally, its AI programs assist tax advisors work as much as 200 instances extra effectively—automating duties like knowledge filtering, drafting responses, and maintaining 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 thousands and thousands of information factors with a stage of personalisation that will 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 every of Spain’s most skilled VC corporations, with a monitor file that features Idealista, Wallapop, and Glovo. Current buyers Base10, JME Ventures, 4Founders, Atresmedia, and Mediaset have additionally reaffirmed their help, backing TaxDown’s long-term imaginative and prescient.