Banco Santander acquires majority of Ebury for £350m. Cabify expands in Barcelona. Lots of fintech news.
November 11, 2019 • Issue #190
Google for Startups Residency: lleva tu startup al siguiente nivel
Última oportunidad para aplicar a la cuarta edición del programa de Google for Startups Residency, diseñado para ayudar a startups en fase de crecimiento a acelerar sus proyectos, ofreciéndoles los mejores productos, conexiones, metodologías y buenas prácticas de Google.
Cada startup seleccionada recibe durante 6 meses asesoramiento personalizado, formación y espacio de trabajo en Google for Startups Campus Madrid, así como las herramientas y conexiones necesarias para construir su negocio. Además, Google pone a su disposición la red de mentores y partners en más de 135 países para apoyar a las startups con ambiciones globales, así como los más de 20 mentores residentes en Campus.
Encuentra toda la información en la web y aplica ahora: campus.co/madridresidency
Startup funding news 💸
- US-based but Spanish-founded biotech startup Bigfinite raised $15 million from
- Barcelona-based Validated ID raised €2 million for digital identity products, led by Randstad Innovation Fund, Caixa Capital, and previous investor Cuatrecasas Ventures
- Madrid-based fintech startup Devengo raised €1.2 million from various business angels
- Barcelona-based digital fitness company Volava raised €750,000 from Inveready
- Madrid-based fintech startup Micappital raised €750,000
- Barcelona-based Medtech startup Able Human Motion raised €700,000 from BStartup Health
- Barcelona-based Worldcoo raised €565,000 led by Ship2B
- According to El Referente, Spanish startups raised a combined €32 million in October
M&A activity 🎊
- Banco Santander acquired 50.1% of London-based fintech startup Ebury for £350 million. Although based in the UK, Ebury is founded by Spaniards and has engineering offices in both Madrid and Malaga. Xataka wrote about the company, which provides exchange and currency services for SMEs, here. Santander has an option to buy the remaining stake in the company
- More news about HolaLuz's IPO on the MAB: 4% stock option plan for founders and employees, as well as six potential companies HolaLuz could acquire to increase market share and expand geographically
Investor & accelerator news 🚀
- Last week Seaya Ventures disclosed its investment in Latam dark kitchen startup Muy
- Barcelona-based pledge fund Lanzame announced a €2 million fund to continue to back its portfolio companies in Series A rounds
- I published an overview of the the evolution of the Spanish VC ecosystem — 2019 edition
Startup news 💡
Google Campus Madrid launched a new edition of its Google for Startups Residency program. The program lasts 6 months and it's a great opportunity for early stage startups looking to receive mentorship, help and office space in Madrid to continue growing. More info on the program and applications here
- Cabify to double down in Barcelona and surrounding areas. The company has increased its fleet by more than 2.5X in the past six months and has also lowered prices
- Glovo announced last week that it's going to open an engineering office in Poland as a result of the acquisition of Pizza Portal
- Madrid-based bootstrapped startup Witei made public its revenue numbers: the real estate startup expects to reach €936,000 in revenues this year (+37% year-on-year) with only 15 employees
- La Informacion wrote a profile of Devengo, a new Madrid-based fintech startup by Fernando Cabello (Aplazame) and Alberto Molpeceres (Besepa) that provides payroll advances to employees
- Fintech startup Indexa Capital announced 'Tu paga' a new feature that allows clients to receive monthly payments from their investments in the platform
- Txampa of Santafixie published a series of templates to track ecommerce performance with Google Data Studio
- Logistics startup Citibox to open its first international office in Paris
- A Coruña-based startup Docuten and SAP signed a partnership to serve corporates
- La Informacion says that Sonae (investor) has left Ulabox's board
- London-based startup Karhoo will provide first and last mile transport for Renfe’s new one-stop shop transport app launching in November
- Carlos Rodriguez 'Ocelote', CEO and founder of eSports team G2 said in an interview with El Pais that he believes there's an investment bubble in eSports
- Startup profiles: Vesto, Gamestry, Loonfy
BDEO 's mission is the digital transformation of the insurance sector through visual intelligence. Their product is based on artificial intelligence, blockchain, and geolocalized video calls through a powerful combination that is changing the way the insurance companies interact with their users.
BDEO has been listed in “The Insurtech100” ranking as one of the 100 more innovative insurtech companies worldwide and has also been awarded as the “Most disruptive product" and “The best Insurtech” at South Summit 2019.
The company is looking for a highly motivated, over-achieving hunter to drive sales opportunities from identification to closing in a dynamic and international environment. Fore fore details, check this link.
Big company news 🏦
- Everis, Prisa and other Spanish corporates got hacked last week
- Indra disclosed financials for the first nine months of 2019: profit was up 18,5% to €65 million and revenues of €2.2 billion
- Bizum to allow consumers to shop in ecommerce stores. Bizum says it currently has 5.3 million active users
- Amazon to open a temporary retail store in Madrid for Black Friday
- El Pais wrote a profile of GoHub, the open innovation arm of Valencia-based corporate Aguas de Valencia
- Telefonica and French technological school '42' started its first program in Madrid
- Nokia Spain increased its revenues but decreased its profits
Tech and policy 💂🏼♂️
- El Pais looked at the existing legal chaos in Spain affecting e-scooters and e-bikes
Interesting reads 🤓
- El Referente published a list of Spanish journalists that write about technology and startups
- Xataka visited a factory in Salamanca that builds nuclear fuel bars that are exported throughout Europe
- Carlos Conti (Inveready): 'What is venture debt?'
- Itnig interviewed Eloi Gomez of Jeff
- K Fund interviewed Pablo Ventura and Iñaki Arrola