MasMovil, Wallapop and idealista exit news. Privalia’s financials. Lots of startup news.
October 28, 2019 • Issue #188
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Startup funding news 💸
Spanish neobank Bnext just went live on Crowdcube. The company has raised more than £950,000 in less than an hour. If you want to have a chance to participate in the company’s future, you can do so by investing here.
- Barcelona-based freelancing recruitment startup Outvise raised€1.2 million to accelerate its growth
- Malaga-based travel startup Nicehop raised funding from Cupido Capital
M&A activity 🎊
- According to El Confidencial, MasMovil could be considering buying Vodafone's Spanish business for €6 billion
- Executives and employees of Wallapop received a €13 million compensation package as part of the company's sale of its US division to Letgo/Naspers. Wallapop's revenues grew to €13.6 million in 2018, up 20% from the previous year and could reach profitability soon
- According to El Confidencial, Apax could be considering selling Madrid-based idealista for as much as €800 million
- Squarespace announced the acquisition of New York-based social media authoring startup Unfold, co-founded by Spaniard Alfonso Cobo
Investor & accelerator news 🚀
- The only IPO in Spain this year will be Balboa Ventures, a fund-of-funds launched by Arcano Partners to invest in Silicon Valley and US-based Venture Capital firms
- Santander InnoVentures led expansion round for American digital mortgage lending platform Roostify. The firm was also in the news this week after it was announced that Santander injected€27 million of additional capital into InnoVentures
- Banco Santander México, CONTPAQi and others invested $250 million pesos in Innohub, a company builder for B2B fintechs
- Madrid-based Corporate Venture Capital firm Cemex Ventures invested in California startup X3 Builders
- According to Ascri, Spanish startups raised a combined €534 million from VC firms in the first 9 months of 2019, +42% year-on-year
Startup news 💡
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- Barcelona-based last mile logistics company Method Logistics expects to reach€18 million in sales this year
- Barcelona-based ecommerce site Privalia disclosed financials for 2018: revenues of €656 million (+20% year-on-year) and profit of €26.3 million (+50% YoY)
- El Rerente interviewed Jorge Oliveros, CEO of Madrid-based marketplace Jobin. Oliveros says in the interview that the company is currently doing €2 million in monthly GMV and growing 7X compared to 2018
- Barcelona-based housing marketplace Badi announced two senior hires from Google and Booking.com
- Glovo signed a partnership with French neobank Qonto. As a result, orders paid with a Qonto card will get a 50% discount
- How Barcelona startup Onna is helping companies unlock their data. The company recently raised $11 million from Dawn Capital and has 55 employees
- According to El Referente, Madrid-based Rebellion Pay is the first neobank to offer a Spanish IBAN to customers
- Barcelona-based proptech startup Housfy to create a spin off to provide mortgages
- Madrid-based roboadvisor Indexa Capital launched a life insurance product
- Barcelona-based brand intelligence technology leader Red Points opens Salt Lake City office to support rapid U.S. growth
- Barcelona-based fintech startup Pagantis says that it has loaned more than €500 million in the past 8 years
- Asturias-based startup Virtway helps companies build 3D virtual events. The company has raised more than €4 million to date and expects to close this year with €800,000 in sales
- TonicApp is a Portuguese health startup that just participated in TheVentureCity's growth program. The firm wrote about the company's experience here
- Startup profiles: Coinscrap (fintech), Hireflix (HR), Cobee (HR), Dixper (gaming)
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Big company news 🏦
- HBO increased prices in Spain to €8,99 per month
- Denizen, the global account fintech created by BBVA in 2018, announced that it will close in December, citing the inability to scale the business enough to compete in the current environment + Immune Technology Institute is a new education program in Madrid, backed by corporates and multinational executives + Telefonica and Atresmedia created a joint venture to compete against Netflix, HBO. La Informacion looked at the details of the partnership + Alsa's "secret" booming business in Spain: VTC licenses + El Mundo set to become Spain's first large newspaper to install a paywall
Tech and policy 💂🏼♂️
- Madrid's city government could take away e-scooter licenses from operators if they don't adhere to local regulations
Interesting reads 🤓
- Advertising spending in Spain decreased by 6.3% in the first 9 months of 2019. Press and TV ads showed the worse declines, while Internet and radio the bigger uplifts
- According to various studies, Spain has one of the lower rates of remote working in Europe
- Philippe Gelis (Kantox) wrote: 'MDPs have “commoditised” corporate FX and crushed profit margins. It’s time to leverage new automation technology to recapture value'
- Felix Lopez (Google) wrote:'The role of an engineering manager: one to ones'
- Daniel Primo interviewed Pablo Postigo, CEO of Frontity
- K Fund interviewed Guillermo Vicandi, CEO of Bnext
- Itnig interviewed Eduard Cabanas and Eduard Ros, CFOs of Ulabox and Glovo, respectively
- Lunes Inspiradores interviewed Mireia Badia, CEO of Grow.ly
- En.digital interviewed Pol Rodriguez, CEO of FacturaDirecta
- StartupGrind BCN interviewed Elisenda Bou, co-founder of Vilynx