Spanish startup Cordown Million has collected millions of dollars from bonsai partners to develop their AI-powered platform and how people manage their taxes. The company already earns more than € 10 million in revenue, plans to increase its team, to increase its technology and to continue the user experience.
Established in 2019 by Enrique Garcia, Elvero Falcons and Joakan Fernandez, how millions of people in Spain and Latin America have changed their taxdown by file their tax return. Its technology automatically analyzes the current rules for applying all relevant discounts, allowing users to complete their returns in just a few minutes. There is a team of over 200 tax advisers on the back of the platform, helping each return is correct and favorable.
What makes the taxdown a stand is a promise to increase in sustainable and measured ways. At a time when many startups chase the round of large funds, the taxdown has adopted a separate approach-focuses on creating powerful foundations, skilled operations and technology-driven effects.
“We don’t believe the mega-rounds are synonymous of success,” D EnriqueCEO and co-founder. “Our model proves that it is possible to scale up skill, to work AI for people and to be profitable – no need to increase hundreds of million people.”
AI in the center of the platform
With this new investment, the taxdown is doubled in AI. The company has planned to roll out new features that make the tax process more automated and introduces virtual advisory equipment to guide users’ way. Goals: A paperless, personalized and unmanageable tax experience.
So far, the taxdown has imitated more than 2 million personal income tax returns and has led the market for volume files in both Spain and Mexico. More than 30,000 user reviews and a 4.7-star rating on Google, the platform has gained the trust of a broader user base. Internally, its AI systems help tax consultants to work with 200 times more efficiently-automatic tasks such as filtering, drafting reaction and updating teams with real-time changes in tax law.
“Artificial intelligence lets us grow faster without adding us complexity.” Garcia added. “We are processing a few million data points with a level of personalization that would have been impossible too long ago – providing real savings and emotional tranquility to our users.”
Bonsai Partners, one of the experienced VC companies in Spain, led the round, a track record that includes Idealista, Walpop and Glovo. Existing investors have also re -confirmed their support for Base 10, JME Ventures, 4 Founders, Atracemidia and Mediasset, supporting the long -term view of the taxdown.
[publish_date
