Cabify could sell its Glovo shares. idealista and the CNMC. Google Tax.
February 24, 2020 • Issue #205
Digital55 es una empresa especializada en desarrollo de software y plataformas digitales innovadoras. Trabajamos con una cultura de desarrollo ágil y un enfoque lean en el diseño de productos digitales. Desde hace más de diez años colaboramos con grandes empresas y startups en fase avanzadas de crecimiento.
Nuestros técnicos también refuerzan el área de tecnología de las startups más avanzadas que necesitan evolucionar su producto rápidamente. Hacemos posible lo que parecía imposible.
Startup funding news 💸
- Cabify could be looking to sell its 5 to 6% stake in Glovo for around €50 million. According to La Informacion, if the deal is completed it would mean that Cabify is able to bypass raising additional funds for now
- Madrid-based fintech startup Sego Finance raised €1.5 million from GVC Gaesco and others
- Tim Draper puts $1 million into the Aragon blockchain project to create digital courts. Draper Associates is buying into the Aragon network’s ANT token to the tune of $1 million
- Madrid-based ecommerce eyewear startup Miller & Marc raised €750,000
- Madrid-based health tech startup Melio raised €600,000 from Beaumont Capital and business angels
- Startups looking for funding: Booh!
M&A activity 🎊
- Food delivery startup ApetEat acquired Barcelona-based competing business FELIX. The deal helps the former expand in Catalunya
- David Bonilla of Manfred wrote a lengthy post about why he chose to sell his company to Sngular
Investor & accelerator news 🚀
- Nina Capital is a new Barcelona-based €15 million seed stage fund to invest in health tech companies
- FOND-ICO Global announced the name of the funds that will be awarded up to €202 million. Among the funds, there are several technology-focused firms: K Fund (😊), Seaya, Ysios Capital Partners, Ged Capital Development, Demium and Business Booster
- Bitphy and Airning are the two latest startups to participate in TheVentureCity's accelerator program
Startup news 💡
- Spanish competition authority CNMC announced last week that it's investigating idealista and several other real estate portals because it believes that the algorithms developed by these companies are pushing housing prices up. idealista denies this and says that they haven't received any formal communication from the CNMC
- Expansion wrote about the case of Codigames, the Valencia-based gaming startup that had a killer 2019, with €44 million in sales and €20 million in EBITDA
- El Confidencial profiled Funidelia, a Huesca-based ecommerce company selling costumes. The company reached sales of €30 million last year
- TechCrunch profiled Belvo, a Barcelona and Mexico-based fintech startup that has developed a series of APIs to connect developers and businesses with Latin American financial institutions. Belvo is currently participating in Y Combinator's winter batch
- According to Expansion, Verse has become the first European startup to allow free money transfers between European banks
- El Pais looked at Wallapop's recent activity. The company says that last year it reached €20 million in gross sales
- Glovo announces new wine, beer and spirits delivery thanks to partnership with Pernod Ricard
- Startup profiles: StockCrowd, Nannyfy
Digital55 es una consultora nativa digital que colabora con empresas en proceso de transformación digital.
Reforzamos los departamentos de tecnología con personal especializado en desarrollo web y móvil. Aplicamos las mejores prácticas en el desarrollo de plataformas digitales innovadoras, utilizando metodologías ágiles de desarrollo, con un control de calidad muy estricto y un enfoque de creación de producto lean de menos a más.
Tech and policy 💂🏼♂️
- The Spanish government approved the so-called Google Tax that will impose additional taxes on foreign tech businesses operating in Spain
- The Spanish government approved the creation of a sandbox to help fintech startups test and launch their products and services in Spain. The sandbox will go into effect once its voted in the Spanish parliament
- I've lost count of the number of legal issues Deliveroo and Glovo face in Spain due to their labour relationship with riders. Now the TSJM (Tribunal Superior de Justicia de Madrid) says that Deliveroo should hire 532 riders that are currently freelancers
Interesting reads 🤓
- Carlos Fellonosa of Optimus Price published a Twitter thread about how he approaches candidates that applied to the job positions at his company but were rejected
- Pau Ramon, CTO of Factorial, wrote about 'a handful of engineering principles at Factorial'
- Giovanni Paolo, CMO of goTrendier, published a blog post arguing that 'CAC doesn't always increase'