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Fintonic bank. TravelPerk goes green. idealista valued at more than €900m.

March 9, 2020 • Issue #207

La competición de Cita Emprende, que tendrá lugar el 29 de abril en Donostia, ofrece una oportunidad inmejorable a startups a la búsqueda de levantar una ronda de financiación y/o encontrar un socio industrial.

En este contexto, deberán convencer al jurado de que están desarrollando un modelo de negocio robusto, escalable e invertible.

Las 8 startups seleccionadas podrán hacerlo en uno de los mejores escaparates posibles, ante un importante número de inversores cualificados y directivos de pymes interesados en conocer proyectos en los cuales invertir o con los que suscribir acuerdos win-win de desarrollo de negocio.

Consulta las bases de participación y los atractivos premios a repartir aquí.

Startup funding news 💸

  • According to El Referente, Spanish startups raised a combined €19 million in February 2020
  • Barcelona-based medtech startup Aortyx raised €650,000
  • Barcelona-based food tech startup Mr Noow raised €235,000 on Crowdcube

M&A activity 🎊

  • A few weeks ago I mentioned that PE fund Apax could try to take idealista public. Last week it was disclosed that Apax is now valuing idealista in its books at more than €900 million, almost 5X the amount it valued it five years ago
  • Banco Santander agreed to acquire 50,1% of Ebury a few months ago, the deal is pending regulatory approval. In the meantime, Banco Santander made last week its first payment by acquiring 6,4% of the fintech startup for €45 million, valuing Ebury at €700 million
  • MasMovil acquired low-cost pay as you go MVNO Lycamobile for €372 million. Lycamobile had €140 million in sales and EBITDA of €45 million

Investor & accelerator news 🚀

  • Fundación Bankinter published 'Observatorio del Ecosistema de Startups' a new useful tool to keep track of data related to the Spanish startup ecosystem
  • Altamar has become one of the larger fund management firms outside of the US to focus on Venture Capital investments, with more than €1 billion in assets under management

Startup news 💡

  • 'El florecimiento de la Andalucía tecnológica': El Mundo wrote about the technology scene in Andalucia, mostly concentrated in Sevilla and Malaga, that has produced several relevant startups in the past few years
  • La Informacion says that Scytl will compete with Indra to become the main provider in the Catalan elections to be celebrated this year
  • Ecommerce startup TradeInn to open a new distribution centre with the goal of reaching €245 million in sales in 2020
  • Barcelona-based travel management startup TravelPerk launched GreenPerk, a new product to not just track, but address, the carbon output from business travel flights
  • Fintonic plans to expand its financial services, including a bank account and debit card
  • Wallbox, the Catalan producer of electric chargers for the home and businesses, plans to open a new development centre in Barcelona with capacity to sell 500,000 chargers per year. Wallbox surpassed €9 million in sales last year
  • Cabify launched in Zaragoza, with 20 cars available for now
  • Electronic invoicing and signature company Docuten to open its first international office, in London
  • Startup profiles: Fuell, 2gether

CITA Emprende es el evento de match-making para la generación de negocio entre pymes y startups en clave de innovación abierta. Tendrá lugar el 29 de abril en San Sebastián y las startups interesadas en participar en este formato pueden aplicar aquí.

En esta tercera edición se consolida la colaboración del Bind 4.0, programa vasco de aceleración startups #Industry40 con corporates, además de asegurar la participación de numerosas startups y un número significativo de corporates de otros ecosistemas avanzados del país.

El núcleo del encuentro son las citas speed dating, curadas por la organización, entre startups, pymes/corporates y los fondos de inversión, para facilitar operaciones y acercamiento entre los diferentes actores del sector.

Big company news 🏦

  • Banco Santander's PagoFX is due to go live in the spring, taking on TransferWise and other startups tackling foreign exchange fees

Tech and policy 💂🏼‍♂️

  • Lots of uncertainty continues to surround the Spanish Google Tax. The government acknowledged last week that it doesn't know how many local businesses will be affected by it

Interesting reads 🤓

  • Myriam Barnes (K Fund) wrote 'The seed startup ecosystem in Spain: An analysis of K Fund’s Dealflow using Graphext'
  • Samuel Gil (JME) wrote 'Money is emotional, investing is rational'
  • Felix Lopez (Google) wrote 'Ownership, what's ownership?'
  • Arcabo Blue Bull wrote 'How to assess Artificial Intelligence startups'
  • Caroline Lagergren (Expand to Spain) wrote 'Spanish women-led startups get access to more VC cash'

Podcasts 🎧

  • Jesus Alonso interviewed François Derbaix, co-founder of Indexa Capital
  • Data Interviews interviewed Victoriano Izquierdo and Almudena Sanz of Graphext
  • K Fund interviewed Felipe Talavera, VP of Engineering of Flywire
  • En.digital interviewed Victor Correal of GuideDoc
  • Itnig interviewed Juan Pablo Tejela of Metricool
  • Lunes Inspiradores interviewed Sebastien Marion of Kasaz

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