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TravelPerk raised $60m. Cabify's $2b acquisition offer. Glovo and Carrefour partnership. Spotahome €6m in revenues in 2018.

August 23, 2019 • Issue #173

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Startup funding news 💸

  • Business travel startup, TravelPerk, announced it’s more than doubled the $44 million Series C round from 9 months ago, taking a further $60 million from its existing investors. Avi Meir, CEO, wrote about the financing
  • Madrid-based fintech startup Finizens raised €3.3 million. The name of the investors was not disclosed
  • Dentaltix raised €500,000 from Cabiedes & Partners and Bewater Funds
  • Acqustic raised €150,000 from Bbooster Ventures

M&A activity 🎊

  • According to La Informacion, Cabify rejected a $2 billion acquisition offer in 2018, because the deal was mostly in stock instead of cash
  • Vente Privee, owner of Privalia, sold Privalia Mexico to Grupo Axo

Investor & accelerator news 🚀

  • ASCRI published data for the first half of 2019 in the venture industry: 242 investments that combined for €357 million
  • Inveready invested in Belgium startup AudioValley
  • Interesting Twitter thread by Pepe Borrell about “direct investments” in Spain, from an equity crowdfunding point of view
  • Private equity firm Alantra hired Ana Segurado (formerly of Telefonica) to lead its technology investments. Alantra also acquired a 35% stake in Sabadell’s early stage fund Asabys Health
  • Propel Ventures, BBVA’s de-facto venture arm, said that it’s invested in three new companies recently, without disclosing their names

Startup news 💡

  • Barcelona’s startups push forward despite political challenges - interesting read on the evolution of Barcelona’s startup ecosystem
  • Glovo and Carrefour signed a significant agreement that will see Glovo deliver Carrefour’s products in 30 minutes or less in Spain, France, Italy and Argentina. In an interview in Portugal, co-founder Sacha Michaud also talked about Glovo’s expansion plans in Portugal
  • Proptech company Spotahome posted revenues of €6 million in 2018 (70% year-on-year)
  • HR startup Woffu disclosed revenue numbers for the first six months of 2019: €130,000 in MRR, a 300% year-on-year increase. The company has more than 4,000 clients and 40 employees
  • Basque fashion startup Chicisimo launched an in-store outfit recommender, that will allow consumers to match the clothes in their closet with garments they are about to buy
  • Marketing startup Marketgoo published ola, their new design system
  • Mr Jeff to continue its Spanish expansion with more clothe washing centres
  • Paris-based BlaBlaCar announced the official launch of its bus division BlaBlaBus. Due to regulation, in Spain the service will be limited to international trips between France, Italy and Spain
  • El Pais profiled Raquel Urtasun, head of research at Uber’s Advanced Technologies Group, its Toronto-based autonomous car research arm
  • Sherpa, the Spanish startup developing an AI assistant, announced that it has hired Tom Gruber, one of the creators of Siri, as Strategic Advisor
  • Ebury, a London-based fintech startup co-founded by Spaniards, reached an agreeement with Unicaja to facilitate foreign exchange to the bank’s clients
  • Deliveroo to become one of La Liga’s sponsors in the upcoming 2019/2020 season
  • Startup profiles: Goin, Tecnalia, Trucksters, Brand Your Shoes, Freightol, Wetaca

Big company news 🏦

  • Telefonica’s boss Alvarez-Pallete wrote an op-ed to say that workes have the right to disconnect from work after their normal hours
  • El Corte Ingles says it’s working on an app that will change the way brands and consumers interact between them
  • Spain’s CNMC estimates that Netflix and HBO have more than 6 million subscribers combined
  • Amazon says it will create 600 jobs this year in Spain

Tech and policy 💂🏼

  • ADigital held a press conference to propose a new labour contract that would give riders of platforms like Glovo, Deliveroo and UberEats better working conditions and protection without losing flexibility
  • The Spanish government is working on a set of measures to promote electric vehicles in Spain. The plans are being criticized by different players

Interesting reads 🤓

  • Martin Varsavsky (Prelude, MVB Fund): ‘Why Madrid and Spain are much better than San Francisco
  • Javier Santana (Tinybird): ‘Continuous integration
  • Dockless is a new and interesting newsletter about mobility and transportation, written by Manu Zafra

Podcasts of the week 🎧

  • Xataka published a podcast about developer productivity and the 10X engineer
  • Itnig interviewed Christian Rodriguez of ByHours
  • SeedRocket interviewed Nico Bour, co-founder of Uvinum
  • Rewisormag interviewed Mar Cabra
  • K Fund interviewed Borja Santos, managing director of Stripe in Spain and Portugal