TaxDown was set up in 2019 with the aim of creating a technological platform that allows taxpayers to submit their tax returns from their computers and mobile devices, maximising savings and making the process as flexible and as simple as possible.
Behind the startup are Enrique García, Joaquín Fernández and Álvaro Falcones who recently committed to creating a platform that applies an intelligent algorithm to analysing each user’s own tax situation. In just 15 minutes, the user can have their declaration ready and presented through the platform. What’s more, TaxDown charges a fee of €25 if a rebate is obtained for the contributor and only if the rebate received is more than the €25 cost of the service. In the event that the user does not make a saving, or makes a saving of less than said amount the service is completely free, which is a great advantage for the user who pays nothing but still benefits from the tax advice offered via the tool.
For the launch of TaxDown, the founding partners made an initial investment of 60 thousand euros, which they allocated to recruitment and product development. Furthermore, they managed to raise 200 thousand euros from friends and family in an investment round, with the aim of increasing the spend on marketing and capture.
With the objective of scaling the product, the company is seeking its consolidation next year as the leading provider of tax planning for Spanish taxpayers. Once this is achieved, TaxDown will focus on international expansion, with the focus on Europe and Latin America.