Bnext raised $25m. 21Buttons to change biz model and reduce team. Google and Facebook salaries in Spain.
October 7, 2019 • Issue #185
HUAWEI presented last week at South Summit their ambitious $1 billion incentive program for app developers and companies that join its Mobile Services Ecosystem, helping them bring their apps and services to the next level of engagement and growth.
In this year's event, HUAWEI showed commitment to bringing the most innovative solutions to people's digital lives, as well as the investment in advanced technologies such as AI, the digital industry and local developers.
From now on, every company, startup or developer that joins Huawei's Mobile Ecosystem might get funds to help with development, user growth and marketing. Start now by registering in Huawei Developer Alliance.
Startup funding news 💸
- According to La Informacion, Spotahome could be in funding conversations with Softbank
- Madrid-based fintech startup Bnext raised $25 million from DN Capital, Redalpine and Speedinvest. Bnext only operates in Spain for now and claims to have 300,000 active users
- Santiago de Compostela-based indoor positioning startup Situm raised €3 million from Swanlaab, Proseguro and Amadeus
- Music platform Acqustic raised €650,000 from Toushka Capital, Lanai Partners and BBooster Ventures
- Barcelona-based Box2Box raised €300,000 from Encomenda Smart Capital and others
M&A activity 🎊
- SumaCRM continues with its M&A process. This time Tomas Santoro wrote about the due diligence process
Investor & accelerator news 🚀
- People & Planet is a new Barcelona-based fund that aims to invest €20 million in companies with a social impact
- Bewater Funds disclosed several numbers related to its first year of investment activity
- TheVentureCity, the Madrid and Miami-based VC firm, is partnering with Nalej as a strategic ally to boost their international scaling plan
Startup news 💡
Autumn is upon us, which means that London VC firm Atomico is working on a new version of its great State of European Tech report. The firm is looking to receive more responses from Spanish founders, investors and the community at large. Here's the survey.
- Fashion startup 21Buttons to lay off tens of employees as the company prepares to change its business model. 21Buttons had 170 employees before layoffs
- According to La Informacion, Cabify is trying to control its expenses in order to successfully IPO next year
- Brazilian startup Creditas announced the opening of a tech development centre in Valencia. Creditas is founded by Spaniard Sergio Furo and is one of Brazil's biggest fintech companies, with more than 1,000 employees and $314 million in funding from Softbank and other investors
- Car ecommerce startup Clicars says that it has reached profitability and €75 million in gross sales
- Fintonic disclosed several interesting numbers in an article this week: 800,000 users, €500 million in loans generated on its platform, loss of €7.6 million, €160 million valuation and more
- Streamloots, Epica, Influencity, Bdeo and Jubel were chosen as winners of South Summit 2019
- Sifted profiled Spanish startup Jeanologia, a technology company that helps produce a third of all the world’s denim
- How Tinybird chooses the technology to build its product on
- Valencia-based wireless tracking communications startup WiTrack to continue its international expansion with offices in USA, UK and Mexico
- El Referente launched its fourth annual investment guide for startups
Huawei Mobile Services is on a mission to serve every user of Huawei and Honor devices to strive in a mobile life with our premium services such as AppGallery, Video, Cloud, Themes, Assistant etc.
Huawei Mobile Services is a home to dreamers and life players who are dedicated to creating digital innovations, working with great industry partners to bridge our users to modern mobile life with efficient solutions. Our services have been deployed in over 170 countries, pushing an ultimate and premium smart living experience forward to benefit each user, every family and every organization. As the era of the fully connected world has arrived, we continue evolving to provide superior user experience and fulfill our commitment to bring the world closer.
Are you ready for the new Mobile Services age? Apply to Huawei's open positions in Madrid (Spain).
Big company news 🏦
Huawei presented its Mobile Services Ecosystem and an open call for companies and developers to join its $1 billion incentive program
- What Google, Facebook, Apple, Microsoft and Twitter pay to their employees in Spain. Google and Facebook pay the highest average salaries of all
- Mango's retail sales decreased 5% compared to last year. The silver lining in the company's latest financial results were online sales, which increased 30% year-on-year, up to €445 million
- HP announced last week that it will lay off between 7,000 and 9,000 employees in the next couple of years. HP employs 2,500 people in Spain but according to El Español sources, the division should not be affected by the cuts since it's very profitable
- Spanish telcos have laid off more than 10,000 employees in the past five years
Tech and policy 💂🏼♂️
- According to a study, Spanish food delivery companies are saving up to €39 million in labour costs by using the current model based on freelancers
Interesting reads 🤓
- Spaniards consume less piracy content than ever before
- Samuel Gil (JME): 'Blitzscaling, tech multiples and more'
- Jaime Novoa (K Fund, Dealflow): 'Thoughts on Spanish bootstrapped companies from a VC perspective'