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Ontruck raised €17m. The Hotels Network received €10m. Bootstrapped Metricool gets to $100k in MRR.

June 15, 2020 • Issue #221

PIGARI is a Barcelona-based startup that enables businesses to offer financial services to their customers. You can leverage PIGARI’s fintech as a service platform and seamlessly integrate banking services in your current offering. Your product will be under your own brand, relying on PIGARI’s whitelabel solution in the background.

Boost your revenues and increase customer loyalty. PIGARI’s platform is a quick and easy way to add banking services to your current product features:

- Instantly create your own virtual and physical cards - Enable IBAN accounts to receive and send money - Access PSD2 bank account aggregation and payment initiation services

No integration time, no upfront costs, pay-as-you-go and public launch in 4 weeks across Europe!

You can reach out to them at or book a meeting here. PIGARI’s team can help you to discover the best solution for your business and customers.

Startup funding news 💸

  • Madrid-based transportation and logistics startup Ontruck raised €17 million from led by the Oil and Gas Climate Initiative
  • Barcelona-based The Hotels Network raised €10 million to boost direct booking for properties. The round was led by Elaia
  • Barcelona-based biotech startup Oxolife raised €5 million led by Inveready
  • Madrid-based invoicing and tax filing software Declarando raised €2.2 million, led by JME
  • Madrid-based Bewe, developers of beauty and salon software, raised €2 million from DILA Capital and Seaya Ventures
  • Mallorca and NY-based travel company Essentialist raised €1.2 million from Sabadell Venture Capital and Turtle Capital
  • Madrid-based Clupik raised €200,000
  • Startups fundraising: Owl

M&A activity 🎊

  • La Informacion wrote a profile of Providence Equity Partners, one of the funds behind MasMovil that has also been quite active in the past few years in the Spanish telco market, with solid returns
  • La Informacion also looked at Santander's acquisition of fintech startup Ebury. The signed contract includes a clause to list the company in the stock exchange in London, Madrid or New York in three years
  • Following Telefonica's footsteps with Telxius, MasMovil plans to spin-off and sell part of its fibre network for up to €414 million

Investor & accelerator news 🚀

  • Basque and Catalan VC firm Ysios Capital announced a new €200 million fund to invest in biotech companies
  • Expansion interviewed Carlos Blanco of Encomenda to talk about the current situation in the market and what he expects in the near future

Startup news 💡

  • All videos from the Startup School:Restart program by Google for Startups are already published on the program site, including sessions on Product & Processes, User acquisition and Leadership. This week Google for Startups is also announcing a new series of open sessions for the upcoming days, as a part of Startup Advisors Summit, a program gathering 19 international experts from Google to support startups from their Residency program community.
  • El Confidencial profiled Mifixpert, a service to repair technology products. The company has more than 200 employees and annual sales of more than €200 million
  • StarterStory profiled Metricool, a Madrid-based bootstrapped startup that has reached $100,000 in MRR with its social media planner and analytics tool. The company has 5,000 customers
  • Scytl to receive acquisition offers until June 22nd in order to rescue the company
  • Fashion companies Lagaam and Micolet announced a partnership to collaborate in the sale of second hand clothes and discounts
  • Cinco Dias profiled Cheerfy and its new product Shop, which allows restaurants to build storefronts to offer delivery and take away instead of relying on food delivery marketplaces
  • Barcelona-based Fleksy launched an SDK for Android and iOS to scale demand for white labelling of their AI keyboard software which bakes in privacy-safe next-word prediction
  • Security company Panda, which recently completed its acquisition by WatchGuard, announced that its revenues increased to €62 million last year, with positive EBITDA of €10 million but a net loss of €4.7 million
  • Arengu recently launched a Product Hunt campaign. The company failed to get in the top 5 of new products, but decided to share what they learned through the process in a blog post
  • Red Points announced that it's expanding its global reach with a new Beijing office and released advanced seller clustering technology
  • El Pais profiled Santa Fixie, a Barcelona-based ecommerce site for bikes that has seen a surge in sales in recent times
  • La Vanguardia profiled Philippe Gelis, CEO and co-founder of Kantox. The article says that the fintech startup had sales of more than €10 million last year and employs 115 people
  • Spanish tech consulting firm 47 Degrees launched Academy, an educational program focusing on programming languages Haskell, Kotlin, Scala, and Swift
  • Xoel Lopez did a Show HN of NoiceJobs, a product focused on aggregating senior remote job offers via Telegram

Big company news 🏦

  • Inditex published financial results for its latest quarter. The company saw sales drop by 44% compared to the same year-ago period, but online sales grew by 95%
  • Google Cloud and Telefonica partner to accelerate digital transformation for Spanish businesses. Google also announced plans to launch a cloud region in Spain that will leverage Telefonica's Madrid region infrastructure
  • If Telefonica is not able to sell all of its Latam businesses at once, the company might decide to sell them one by one. With the exception of Brazil

Tech and policy 💂🏼‍♂️

  • Spain's Supreme Court fined Meneame with €1,200 due to comments made by one of its users against a politician. This could set a really bad precedent for internet platforms in Spain that host third party content
  • La Informacion analysed the impact Glovo, Deliveroo and others will suffer if the Spanish government declares riders as employees of their respective companies instead of contractors

Interesting reads 🤓

  • Isabel Garate, Product Manager at Ontruck, wrote 'How we have used No-Code tools to save 10k€/month'
  • Felix Lopez (Eventbrite) wrote 'The big jump', a post about the importance of being able to effectively communicate ideas and projects within companies and offered tips on how to improve those skills
  • Carlos Otto wrote an op-ed in El Confidencial about why he believes a 'Netflix of news' doesn't make sense. Xataka also looked at the various paywalls that currently exist in the Spanish newspaper and media sector and how they differ from one another
  • Samuel Gil of JME published 'Lies, damned lies, and benchmarks'

Podcasts 🎧