TaxDown raised €2.4 million from FJ Labs and existing investors from Spain.

Spain United States 12 March 2021

TaxDown, a Madrid, Spain-based startup operating a software platform making it easy for people to do tax administration and management, announced that it secured a €2.4 million ($2.9M) seed funding round.

The money was raised from new and existing investors, including FJ LabsAbac Nest and angels from Spain James Argalas, Baldomero Falcones, Juan Urdiales and Felipe Navío.

Proceeds will be used as the company eyes to enlarge its operation scope throughout Spain and other European countries.

TaxDown, founded in 2018 by Enrique García Moreno (CEO), Álvaro Falcones and Joaquín Fernández, developed a digital tool for tax advice and management, facilitating the understanding of tax rights and obligations, as well as a professional analysis of the taxpayer's tax situation. It does that by building smart software on top of an API provided by the Spanishh tax authorities, and which knows how to interpret users personal and financial data thusly providing guidance throughout the tax management process.

The company says that it managed more than €29M in taxes for users to date while having processed calculations for more than 42,000 tax returns in 2020.

TaxDown previously raised almost $1 million, with a last round of €700k ($755k) announced in 2020.

Total investments received (USD): 3.85M