TaxDown is a Spanish company that provides online preparation of tax returns. It was founded in Madrid in 2019 by Enrique García, Álvaro Falcones and Joaquín Fernández.
TaxDown operates in Spain and Mexico. It sells its services directly to individuals and also distributes them through banks, insurers and employers.
History TaxDown was founded in 2019. García and Fernández had studied telecommunications engineering together, while García later met Falcones while working in consulting. It initially focused on preparing Spanish personal income-tax returns and helping users identify national and regional deductions.
It raised €2.4 million in 2021 and a further €5.5 million in 2022. The latter round was used to expand the service to self-employed workers and investors and to launch in Mexico.
In 2023, TaxDown raised €5.8 million from investors including Base10 Partners and JME Ventures, as well as the Spanish media groups Atresmedia and Mediaset. Bonsai Partners invested €4 million in 2025.
In 2026, the company received €4 million in financing from BBVA Spark. BBVA said that TaxDown had more than doubled its sales in 2025 and had become profitable during the year.
Services In Spain, TaxDown can retrieve information held by the Spanish Tax Agency and combine data with information entered by the user to prepare a return and check for applicable deductions. The company has initially focused on employees, but later added support for property income, investments and self-employment.
Banks and insurers became an important distribution channel for TaxDown, with partners including EVO Banco, Openbank, Abanca and N26.
Technology TaxDown developed a tax-calculation system called RITA. The system used data from the Spanish Tax Agency and asked users additional questions when needed to prepare a tax return.
By 2023, TaxDown was using machine learning to flag returns for review. Its tax advisers were also using generative AI tools.
Mexico
TaxDown entered Mexico in 2022, its first market outside Spain. Its Mexican service uses information held by the Servicio de Administración Tributaria (SAT) to review income, deductions and invoices.
See also Tax preparation Financial technology Income tax in Spain
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