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Flywire raises $100m at close to a $1b valuation. Inveready to close its new €40m fund. Netflix to open 1st production center in Madrid

July 7, 2019 • Issue #125

Keatz es una compañía de restaurantes virtuales 100% enfocada al envío a domicilio. Con más de diez marcas diferentes, algunas de ellas ya están disponibles en Madrid y Barcelona a través de todas las plataformas. Durante esta semana te ofrecemos el 20% de descuento, sólo en Just Eat, para nuestros restaurantes: Gringo Burritos (Código: GRINGO20), Convoy Burger (CONVOY20), Moody Monkey (MOODY20) y Green Gurus (GREEN20).

Startup funding news 💸

  • Valencia-born and Boston-based Flywire raised $100 million from Temasek, Bain Capital Ventures and Fidelity’s F-Prime Capital. The fintech company helps universities, hospitals and businesses accept foreign-currency payments Barcelona-based motosharing startup, Silence, closed a funding round of €8.6 million to develop and launch two new electric scooter models
  • Wine ecommerce startup Viniexport raised €2 million from Inveready Madrid’s Finanbest raised over €400,000 on Crowdcube

Startup exits 🎊

  • ProA and Kutxa are trying to sell consulting firm Ibermatica for up to €50 million

Investor & accelerator news 🚀

  • According to Kippel01, Inveready is in the final stages of closing its 8th fund, of €40 million The Venture City invested in Latam startup Fluvip
  • Cemex Ventures invested in US-based industry startup Concrete Sensors Malaga tech startups will be eligible for 500 Startups accelerator
  • El Pais interviewed Carlos Blanco (Conector, Encomenda)

Startup news 💡

  • La Informacion disclosed the financial performance of real estate startup Spotahome’s in 2017: €3.5 million in net revenue and a loss of €8 million. The company recently raised $40 million from Kleiner Perkins The same newspaper had access to Cabify’s financials. The company’s Spanish subsidiary had revenues of €73 million in 2017
  • La Voz de Galicia published an interesting profile of Galician hardware startup Marine Instruments, including an interview with its CEO Gabriel Gomez. The company posted €45 million in sales last year and is a worldwide leader in its field Ecommerce company Hawkers to open its first retail store in Portugal
  • El Pais wrote about one of Madrid’s newest coworking spaces, Loom House, which used to exclusively house the ‘Real Fabrica de Tapices’ and now also counts with several startups as members Barcelona Startup News interviewed Mattia Franco, CEO of Xceed: 'The party startup that deserves to be taken seriously’
  • Startup profiles: Famaex (marketplace for corporate services), Waynabox (travel), Graphext (SaaS), Mission Box (food tech)

Big company news 🏦

  • Netflix launches its first European production hub in Madrid Deliveroo’s CEO in Spain, Diana Morato, said that the company has no plans to change the working conditions of its riders and move them from freelancer contracts to proper full time or part time employees
  • Also Deliveroo is about to open its platform in Spain to restaurants who have their own delivery force, thus competing against Just Eat and other food tech companies Telefonica sold 10% of Telxius, its infrastructure subsidiary, to Inditex’s Amancio Ortega for €378 million. Also this week, Telefonica’s CEO Alvarez-Pallete said that he’s not in a rush to sell other businesses
  • Spain’s telco giants believe that lowering prices should stop, and are not too happy with competition from MasMovil According to El Español, a conglomerate of traditional taxi companies as well as Uber and Cabify are trying to block competitors such as Emov, Car2go or Wible from operating in Madrid’s city centre
  • Wible is the latest company to join the carsharing sector in Madrid. The initiative is backed by Repsol and Kia Enric Llopart (Tribal Worldwide, BBVA Wallet) to become the new digital director of FC Barcelona
  • Food chain and retail company Nostrum continues with its plans to launch an ICO this year. The company would like to receive up to €60 million in the deal

Tech and policy 💂🏼

  • David Cierco Jimenez is the new director of government agency

Interesting reads 🤓

  • Both Cabify and Uber decided to stop operations in Barcelona this week as a consequence of protests from various taxi companies. The latter are currently on strike to protest against the government’s decision to put on hold Barcelona’s local government legislation that would limit the number of VTC licenses in the city Bilbao, Madrid and Valencia are trying to lure tech conference Websummit out of Lisbon
  • Luis Garicano (Ciudadanos): ’How could artificial intelligence impact jobs?’ Caroline Lagergren (ExpandToSpai): ’The need for speed sets the tone for the Spanish business climate - exciting times for startups to come to Spain

Podcasts of the week 🎧