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A weekend of Liquidation Preferences. Frontity, Polaroo and Tranxfer raised €1m.

April 27, 2020 • Issue #214

This week's newsletter is brought to you by Madrid-based digital product studio Acid Tango.

Acid Tango is looking for innovative ways to contribute to business recovery after Covid-19. This is why they have set in motion Recovery Rocket, a 100% free program for all startups, venture builders and entrepreneurs whose activity has been affected by the pandemic.

To benefit from the Recovery Rocket program, simply: 1. Fill the form 2. Sign their NDA 3. Claim your free week!

They will help you:

- Test your product or business concept with their product design team - Check, validate and improve your technological infrastructure with their full-stack developers - Provide insights on what your next steps should be

Startup funding news 💸

  • Madrid-based Frontity raised €1 million from Automattic and K Fund
  • Barcelona-based Polaroo, developers of software to manage people's utilities subscriptions, raised €1 million led by Chris Bouwer
  • Barcelona-based secure file exchange startup Tranxfer raised €1 million
  • Madrid-based Taxdown raised €700,000 led for its tax return product
  • Barcelona-based personal assistant Meyo raised €600,000
  • Barcelona-based AI and big data analysis startup CounterGrogWise raised €400,000
  • Barcelona-based fulfillment startup Kubbo raised €266,000

Investor & accelerator news 🚀

  • An article published by Ramon Blanco (Bewater Funds, Indexa Capital) about and anti dilution clauses sparked an interesting weekend debate on Twitter between different Spanish VCs and business angels. I think Samuel Gil of JME published the best response (and tweets) about the topic, explaining why 1x-non participating liquidation preferences are not malicious in nature and why they exist. Jesus Monleon of SeedRocket 4Founders published another interesting post, highlighting a case in which liquidation preference and investor misalignment ended up stopping an exit from happening
  • Expansion talked to various investors and startups about raising capital in the current crisis. Not easy, not impossible. Carmen Alfonso (Samaipata), Samuel Gil (JME Ventures), Jordi Vidal (Kibo Ventures) and Pablo Ventura (K Fund) participated in a webinar about the very same topic
  • Myriam Barnes of K Fund published 'There aren’t sector-specific startup hubs in Europe. Here’s the data'

Startup news 💡

  • Car subscription service Bipi said in an article that traffic to its website has grown by 200% in the past few weeks and that through its lifetime it has reached more than 75,000 customers
  • Tinybird launched Data Operations Log, a feature that will help companies gain total visibility over any operation run against any of their data sources
  • Location intelligence startup CARTO announced a new integration with, Uber’s open source geospatial data visualization tool
  • Asier Marques, engineering manager at Packlink, wrote about the company's onboarding process
  • Carlos Rodriguez-Maribona (former COO of Minube) of Product Hackers wrote about why it makes sense for some startups to have interim managers for some roles or company areas
  • Communications agency RG Together, which specializes in promoting startups, announced a new initiative that provides 50% discounts to startups willing to communicate covid-19-related projects, amongst others
  • Caroline Lagergren (Expand To Spain) wrote 'Are Covid-19 and Spanish fashion startups changing your wardrobe forever?'
  • Startup profiles: Bigle Legal, Nailted, Nubentos, Citibeats

Big company news 🏦

  • CaixaBank becomes the first Spanish bank to develop risk classification model using quantum computing

Interesting reads 🤓

  • Bartolome Salas published a very interesting deck with strategic and tactical advice for startups to navigate the current environment
  • Felix Lopez of Eventbrite published another article about the role of Engineering Managers, this time about feedback
  • Alex Rodriguez of Marsbased published a recap of the past 6 years at the company: 'No office, no investors, no worries - six years of learnings'
  • Xavier Laballós, co-founder of Growth Hacking Course, sent me an email last week to let me know about a new initiative they launched: 7diasdegrowth. A Whatsapp-based daily challenge for growth professionals that exploded to 733,000 impressions (all organic) and 7,500 people participants

Podcasts 🎧

  • The Hero Camp interviewed David Roch, head of product at Marketgoo
  • SeedRocket interviewed Luigi Mallardo (former VP of sales at Whisbi) about sales strategies and tactics in B2B SaaS startups
  • interviewed Daniel Peris of The Tool
  • Itnig interviewed Josep Casas of Naturitas