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Strands acquired. ENISA’s future. Lots of startup news.

April 6, 2020 • Issue #211

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Startup funding news 💸

  • Fintech startup Saurus Capital raised $600,000
  • Madrid-based security startup Kymatio raised €500,000
  • Murcia-based startup WeFish raised $150,000

M&A activity 🎊

  • Credit management solutions provider CRIF agreed to acquire Spanish fintech company Strands for an undisclosed amount

Investor & accelerator news 🚀

  • La Razon interviewed Jose Bayon, ENISA's CEO. He talks about the current situation, about ENISA perhaps acquiring equity in startups (not just loans) in the future and other topics. Both ENISA and CDTI have paused new investments and loans
  • All Iron Ventures participated in Preply's $10 million round. Preply is an American online tutoring marketplace
  • Iker Marcaide's Zubi Labs announced Zubi Capital, a new program to provide cash to SMBs and businesses that have been heavily affected
  • Law firm Metricson has come up with a new type of revenue-share financing mechanism for startups

Startup news 💡

  • As a result of today's economic and health situation, Glovo plans to perform an ERTE affecting 30% of its staff, or 270 employees. The company also announced that its executives will lower their salaries between 75% and 90% for 3 months
  • Health and telemedicine company Atrys Health posted financials for 2019: revenues of almost €15 million and EBITDA of more than €5 million
  • Restaurants are being heavily affected by the shutdown of the economy, and the same happens with tech companies within the industry. El Tenedor has come up with prepaid gift cards so that consumers can provide cash to restaurants, akin to a prepaid booking
  • Fintech startup Belvo launched on Hacker News and wrote about the company's origins and their current open banking API product
  • Tomas Santoro wrote an article explaining why they publish so much content on their blog, and why they're so transparent. 50% of SumaCRM's clients have come from the blog
  • Flanks, a Barcelona-based fintech startup providing financial data solutions, announced the hiring of Alvaro Morales, former CEO of Banco Santander International
  • Blockchain startup Aragon published an article detailing the company's recent brand refresh
  • Barcelona-based startup BCN3D has built more than 400 masks to protect health workers from covid-19
  • David Carrero (Stackscale), Eduardo Fernandez (Shuttlecloud) and others launched an initiative to buy and bring ventilators to Spain. The initiative raised €300,000 via crowdfunding to finance the project
  • Kantox donates money to hospitals and health workers fighting virus on the frontline
  • A series of articles have been published about the needs startups might have in the current situation and how the government could help. Here are a few featuring: Startup Valencia, various VCs and entrepreneurs
  • Startup profiles: Hack A Boss, Plain

Big company news 🏦

  • La Informacion talked to various Amazon workers in Spain who continue to work at the company's various distribution centres
  • Netflix had to decrease by 25% the quality of its streams in Europe due to network congestion. Apparently, the only country where that didn't happen was Spain. El Confidencial explains why Spain's network was able to cope with the situation
  • Google published a tool to look at people's mobility in different countries around the world in the current covid-19 situation, using mobile data. Here's what's happened in Spain

Tech and policy 💂🏼‍♂️

  • The Spanish government, as well as others in Europe, approved last week a law that gives the government power to veto certain company acquisitions and investments. This could affect both startup rounds (those larger than €1 million involving non-European investors that end up acquiring more than 10% of a company) or acquisitions. La Informacion studied how investors and companies might be able to circumvent this

Interesting reads 🤓

  • Samuel Gil (JME) published an interesting article about burn rates in times of crisis
  • Felix Lopez (Google) published a new post in his series about the role of engineering managers: 'Managing low performance'
  • Avi Meir (CEO of TravelPerk) published 'You will travel after COVID-19 - but it won’t be the same'
  • Ramon Blanco (Indexa Capital, Bewater Funds) published 'Is now the best time to invest in private companies?'
  • Fintech startup Billin published two useful articles listing public and private financial resources current available for both Spanish SMBs and freelancers

Podcasts 🎧

  • K Fund interviewed Miguel Carranza, co-founder and CTO of RevenueCat
  • Lunes Inspiradores interviewed Josep Coll, co-founder of Red Points
  • Itnig interviewed Jordi Altimira of Lanzame Capital
  • SeedRocket interviewed Ramon Blanco and Sergio Perez
  • Tomas Serna interviewed Jose Manuel Varela (Arthur Andersen, Banco Santander)
  • interviewed Juan Sandes and Carlos Zubialde about logistics in the times of covid-19