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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 💡

  • Fintonic announced a partnership with Mastercard to develop financial services aimed specifically at its users. Fintonic expects to reach break even in 2020
  • 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
  • interviewed Victor Juarez, CEO of Mi Tienda de Arte