Financials of HolaLuz, Cooltra, Freepik and ENISA. UX/UI salaries in Spain.
February 3, 2020 • Issue #202
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Startup funding news 💸
- Barcelona-based energy startup Enertika raised €12 million in a round led by Susi Partners. The company expects revenues of €20 million in 2020
- Madrid-based eSports platform eGoGames raised €3 million
- Barcelona-based health startup MediQuo raised €2 million. MediQuo is a portfolio company of Target Global, one of the few international VC firms with an office in Spain
- Equity crowdfunding platform The Crowd Angel raised €1.3 million to continue to invest in companies
- Barcelona-based shoe maker Tropicfeel achieved its equity crowdfunding goal of €738,000 in less than three hours. The company claims to have reached sales of more than €7.1 million
M&A activity 🎊
- eDreams Odigeo announced the acquisition of US hotel booking platform Waylo. Terms of the deal were not disclosed
Investor & accelerator news 🚀
- Euskadi and Navarra approved fiscal legislation that will reduce the amount of taxes to be paid by fund managers in the case of successful outcomes
- Eldiario looked at the activity of ENISA and how many of its loans provided to startups are paid back
- CaixaBank and global accelerator Plug and Play signed an agreement to develop and accelerate fintech startups
Startup news 💡
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- Cinco Dias published an interesting profile of Frenetic, a Madrid-based developer of magnetic software solutions. According to the article, the company is in conversations with Tesla and other car manufacturers to design part of their electronic chargers
- Image marketplace Freepik could reach €30 million in sales this year. The company founded in 2010 continues to grow out of its Malaga headquarters with no funding from investors
- HolaLuz disclosed its 2019 financials: sales of €208 million, loss of €800,000, 212,000 clients and 188 employees
- Motorbike sharing platform Cooltra increased its revenues by 50% in 2019, to €39 million
- The former cofounder and CEO of P2P lending startup Comunitae is being accused of fraud by its investors. The company had to shut down in 2018
- Jeff expects to hire 500 employees this year to continue with its aggressive expansion plans throughout Latam and Asia
- Badi announced Badi Homes, a service to rent and manage homes from property management companies and socimis
- Startup news: Trazable, Fundeen, Finect
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Big company news 🏦
- Huawei to launch its own ecommerce store in Spain in February
- 2018 was not a good year for Emov, the car sharing platform of PSA. The company increased its loss to €2.6 million and revenues didn't grow much
- Spotify paid €89,000 in taxes in Spain last year. Spotify Spain only manages ad revenue in the country, not subscriptions
- Holvi, the Finnish BBVA-owned digital banking specialist for self-employed business owners, announced it is expanding into its third core market – the United Kingdom
Tech and policy 💂🏼♂️
- A few months ago, escooter company Lime received 44 fines of €750 from the Ayuntamiento de Valencia due to the release of its escooter vehicles in the city. A judge has now dismissed those fines
Interesting reads 🤓
- UI From Mars posted the results of its 2019 survey about UX/UI salaries in Spain
- According to a report from Finnovating, Spain has one of the highest numbers of fintech startups in Europe. However, those companies are, on average, smaller than its European counterparts and raise less capital
- Also related to the topic above, NASDAQ published "What's driving Spain's rise as a fintech hub"
- Xataka talked to five Spanish Artificial Intelligence experts about the current state of AI and algorithmia
- O Faro is a new project by No Legal Tech with the support of Diego Mariño to teach entrepreneurs the basics of legal and fiscal frameworks
- Simon Muñoz (Director of Product Management at Flywire) published "Mental models for Product Managers: the logarithmic growth curve"
Podcasts 🎧
- Lunes Inspiradores interviewed Eva and Maria Martin of Tiendeo
- Itnig interviewed Francesc Font of Nubelo
- K Fund interviewed Pablo Ventura, one of the fund's partners
- Minimalism interviewed Ismael Garcia, former CMO of Ticketea
- En.digital interviewed Victor Juarez, CEO of Mi Tienda de Arte