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Qashops acquired by Vente Privee. Kibo Ventures invests in Paack. HolaLuz reaches 133,000 customers.

July 7, 2019 • Issue #115

Fruzzel Group will launch Karabanga, a new platform connecting worldwide advertisers and publishers. With their proprietary technology, even better results can be achieved in CPM, CPC, CPL, CPA and CPi campaign management. Focus on performance and optimising media investment. Follow Fruzzel on Linkedin or contact Michiel Smit directly via email or Linkedin for more information.

Startup funding news 💸

  • Barcelona-based Red Points announced a $12 million investment from Eight Roads Ventures. The company had recently raised an additional $12 million from Northzone and Mangrove. This new deal includes new equity and acquiring stock from existing Red Points shareholders. The company expects to use the cash to also launch in Asian markets
  • Elma Care launches eHealth consultation app with €1 million injector boost from Antai
  • On-demand motorbike startup Yugo raised €402,000 on The Crowd Angel
  • Proptech startup Lemonkey raised €283,000 through equity crowdfunding
  • eSports monetization startup Streamloots lands in Silicon Valley with €200,000 investment from Adam Draper
  • Ecommerce company La Casa de la Aldea raised €166,000 through equity crowdfunding

Startup exits 🎊

  • Spanish advertising company Mitula got acquired by Japan’s Lifull for €120 million. This is the largest exit in Spain so far in 2018. Mitula floated on the Australian Stock Exchange and had revenues of €33 million in 2017

Investor & accelerator news 🚀

  • BBVA’s independent VC arm, Propel Venture Partners, announced a new investment into UK online mortgage brokerage Trussle
  • Bewater Funds is a platform to buy and sell shares from Spanish private tech companies. The platform finally saw the light this week after months of negotiations with regulators, and it’s being led by Ramón Blanco, François Derbaix and Unai Ansejo
  • Conector Galicia accelerator holds open call for startups in digital transformation
  • Kippel01 interviewed Antonio Gonzalez Barros, co-founder and CEO of Grupo Intercom, one of the iconic sources of entrepreneurship and startup talent in Spain
  • Startupxplore signed a partnership with BME (Bolsas y Mercados Españoles) and Big Bang Angels to help startups list on the Entorno Pre-Mercado as an initial step towards the MAB

Startup news 💡

  • Pere Valles, former CEO of Scytl, has joined travel startup Exoticca as CEO
  • After a few troublesome years, Softonic got back to profitability in 2017, posting a €3.1 million profit
  • Portuguese challenger bank Banco BNI Europa is ploughing up to €15 million into Spanish auto-financing loans via online specialist Lendrock
  • Gerard Olive has joined the board of Keepler. The startup announced an investment from Deutsche Telekom Capital Partners in March 2018
  • Finnovating published a list of 98 Spanish insurtech companies that rely in some shape or form on blockchain technology

Big company news 🏦

  • Amazon Spain’s managing director, François Nuyts, announced last week that he’s stepping down from his position. Apparently, the decision is not related to the company’s current legal issues in Spain related to its factory workers
  • Uber to pop up a service in Spain’s Costa del Sol in time for summer
  • Zalando Spain’s head, Giuseppe Tamola, is also stepping down
  • Deliveroo to start offering free insurance to its riders in Spain

Tech and policy 💂🏼

  • Spanish congress officially passed legislation to limit the number of VTC licenses in the market. La Informacion looked at how this decision might affect the local transportation market. Cabify’s Spanish director, Mariano Silveyra, was interviewed by El Español on the topic. He said that taxi’s revenues have not decreased in the past few years as a consequence of Cabify and Uber.
  • A few weeks ago we reported on the Spanish government intention to finance its pension system with additional taxes on some of the world’s largest tech giants. This week several associations publicly opposed the idea, claiming it would stop the development of Spain’s digital ecosystem
  • Albert Rivera (Ciudadanos) wants to promote a startup program in Spain similar to Start-Up Chile
  • The Spanish Defense Ministry to heavily bet on drone technologies in the next few years

Interesting reads 🤓

  • Is it possible for the Spanish authorities to request the shut down of popular forums such as Forocoches or Xataka looks at the issue in the context of the ‘La Manada’ case
  • El Pais interviewed Andres Torrubia to talk about Artificial Intelligence

Podcasts of the week 🎧

  • K Fund interviewed Luigi Mallardo, former VP of sales at Whisbi
  • MQS interviewed Cristina Bertrand, former CEO of 11870
  • Itnig interviewed Jaume Mayor and Nacho Cofré, CEO and CTO of Parkimeter