The startup TaxDown, which offers a tax management service (the income tax return, for example) in Spain and Latin America, closed this Wednesday an investment round of 5 million euros whose strategic objective is to continue the growth of the platform by hiring personnel.

The company has detailed in a press release that it has reinforced its presence in the shareholding of funds such as Base10, JME Ventures or Abac Nest, while 4Founders Capital and the public National Innovation Company (Enisa) have also joined.

TaxDown has estimated that, since its birth in 2019, its platform has managed more than 750 million euros in taxes for its two million users and has helped them save more than 100 million in total.

For his part, in the words of the co-founder and CEO of the entity, Enrique García, the objective for the current year is to reach three million users and continue strengthening its presence in Latin America.

Therefore, this new round of financing, as García explained, will help them “continue improving the product and continue growing both in Spain and Mexico and help all taxpayers to ensure that their income tax presentation is well done” through the combination of technology and human team.

On the investors’ side, 4Founders Capital partner Javier Pérez Tenessa (who also founded eDreams) has argued that they were “impressed” by the growth and added value of TaxDown.

In this sense, he highlighted that “by leveraging new technologies and particularly Artificial Intelligence, the management team has developed an innovative, efficient product, with a clear differential proposal for its clients.”

In this line of expansion, the company, which now targets Mexico and hopes to continue expanding to other Latin American countries, has also announced new products such as ‘Instant Refund’ (an instant refund service for the amount that has been returned in tax return) or a new line of business for companies.

Specifically, this new line consists of a GaaS (Government as a Service) solution that acts as a bridge between corporations and the public administration and with which they aim to facilitate processes such as opening bank accounts and obtaining insurance more quickly. and safe.

Continuing with the news, TaxDown has highlighted that, with the aim of improving the experience of its clients, from the end of March to the end of April there is a physical space on Agustín de Betancourt street (Nuevos Ministerios area) so that taxpayers can submit your tax return with personal assistance.