BBVA Spark Grants Four Million Euro Financing To TaxDown For AI Expansion

BBVA Spark has finalized a €4 million financing agreement with TaxDown to accelerate the fintech’s expansion across Europe and Latin America. The capital injection specifically targets the development of new artificial intelligence solutions and the growth of the company’s technical team. This operation receives significant institutional backing from the European Investment Fund and the European Union via the NextGenerationEU program.

Founded in 2019, TaxDown has revolutionized digital taxation in Spain and Mexico by combining proprietary technology with expert advice. The platform has successfully managed over €1.5 billion in taxes for more than four million users to date. By identifying overlooked deductions, the service saved approximately a quarter of its 2024 customers an average of €300 each.

The financing arrives after a landmark year for the startup, which achieved profitability in 2025 while doubling its sales income. This financial health makes TaxDown a standout performer in a fintech landscape often characterized by high burn rates. The company now operates as an official partner of the Spanish Tax Agency and a member of the Spanish Association of Tax Advisors.

This latest deal strengthens a long-standing collaboration between the two entities that dates back to the 4YFN conference. Since 2023, BBVA customers have been able to file tax returns directly through bank channels thanks to TaxDown’s integrated engine. These digital synergies have already halved the time required for certain account opening processes through Cl@ve PIN integrations.

Artificial intelligence sits at the heart of TaxDown’s roadmap to automate and personalize the fiscal lives of millions. CEO Enrique García emphasized that the funds will transform tax management from a complicated chore into an automated, transparent experience. This strategy aims to multiply human expert efficiency rather than replace it, ensuring high-quality advice at scale.

Miguel Ángel Alcalá, head of BBVA Spark in Europe, noted that the bank seeks to redefine traditional sectors through these investments. By bridging the gap between commercial banking and venture capital, Spark provides essential growth capital for mature scale-ups. This partnership ensures that TaxDown can consolidate its leadership in the competitive European and Latin American markets.