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Squared acquired Verse. Onna raised $27m. CounterCraft got $5m.

June 22, 2020 • Issue #222

Madrid-based Product Hackers helps you to boost your revenues. We use the scientific method to discover your growth levers and optimize every stage of the funnel:

- Communication & contents to build an audience - Channel Growth and B2B Growth to bring in more leads - CRO & UX working together to uplift your conversion - Onboarding design to maximize your user’s activation - Feedback loops, gamification & behavioral analytics to improve retention - We are always focused on the growth you need

If you need help taking your company to the next level, let us know, and we will help you take-off.

Startup funding news 💸

  • Barcelona-based Onna, the ‘knowledge integration platform’ for workplace apps, raised $27 million Series B. The round was led by Atomico, who wrote about the investment here
  • Basque cybersecurity company CounterCraft raised $5 million in a funding round led by Adara Ventures
  • Barcelona-based insurtech startup SingularCover raised €4.5 million, led by Liberty and Mutua Madrileña
  • Barcelona-based real estate company Housfy raised €3 million from Seaya Ventures and other investors
  • Barcelona-based biotech startup Inbrain Neuroelectronics raised €1 million
  • Madrid-based security startup Kymatio raised €750,000 from JME and and Sabadell
  • Startups fundraising: Deliberry

M&A activity 🎊

  • Square announced the acquisition of Barcelona-based mobile payments startup Verse. Terms of the deal were not disclosed, but various publications say that the deal could have valued Verse at €30 to €40 million. Verse had raised more than €30 million across various rounds. La Informacion has more details about the transaction. Lanzame Capital, early investor in Verse, wrote about the deal here
  • A bit more research into the Freepik acquisition by EQT: case study on a less known startup hub
  • Startup profiles: ZERØ, WeCity

Investor & accelerator news 🚀

  • Lourdes Alvarez of JME wrote about their investment in Declarando and Cesar Tapia also of JME wrote about their B2B marketplace thesis
  • Santander InnoVentures led a $40 million Series D investment round in US company Upgrade, the consumer credit platform that is moving into mobile banking.
  • TheVentureCity announced the name of the six startups that will join its growth program: AdLaunch, Squadra, Uniwhere, Fixme, Fuell and WeFish

Startup news 💡

  • On Tuesday June 23rd, as a part of the Startup Advisors Summit, Google for Startups is hosting a live session on Product UX with Anna Potanina, a Design Consultant and Conversion Specialist from Google. Session will be open on YouTube here.
  • Forbes wrote about Glovo and how the pandemic has affected its business and operations. According to founder Oscar Pierre, Glovo is handling around 10 million orders a month with more than three million MAUs and a big focus on groceries. He also added that "21 countries of the 22 are operationally profitable and almost eight are already EBITDA profitable so business units are already contributing positively to the headquarters". Glovo temporarily laid off 25% of its employees during the pandemic
  • Typeform wrote a blog post about how they power Superhuman's email onboarding experience: 'Building a Superhuman growth funnel to find product-market fit'
  • Blablacar had to stop operations in the past few months due to covid-19. El Mundo talked to its country manager about plans to re-start operations and how the safety that they believe their model brings versus other modes of transportation
  • Eloi Gomez of Jeff talked about how covid-19 has impacted their business. Jeff has decided to stop franchise fees and revenues have dropped by 15%. The company has decided to focus a lot of its efforts in Southeast Asia in the next few months
  • Spanish startup Qustodio published a study about how kids spend their time online: Kids now spend nearly as much time watching TikTok as YouTube in US, UK and Spain
  • Video On Demand company Filmin has turned 10 and El Confidencial wrote a long profile
  • Marketing4ecommerce wrote an overview of the last mile delivery landscape in Spain, with multiple companies such as Mox, Citibox and others looking to make life easier for consumers and ecommerce businesses
  • Arengu wrote about what they view as the next wave of stack-agnostic user authentication and signup flows
  • French startup Qonto, a neobank for SMEs and freelancers, celebrated its first anniversary since launching in Spain by publishing a recap of the year and disclosing some figures
  • Danish expense management solution and corporate banking startup Pleo launched its services in Spain. The company expects Spain to represent 20% of its revenues
  • Jaime Esteban, former director of Angels Capital, wrote about the evolution and future of the Valencia startup ecosystem
  • La Vanguardia profiled digital marketing company RocketROI. The company had sales of €18 million in 2019 and expects to reach €28 million this year as it sees acceleration from covid-19

Big company news 🏦

  • How Telefonica plans to adapt the way their employees work as a result of covid-19
  • Apple has rented an office of 6,000 square meters in Barcelona
  • Uber named Spaniard Anabel Diaz has head of EMEA

Tech and policy 💂🏼‍♂️

  • The Spanish government plans to regulate the labour conditions and contracts of riders that work for platforms such as Glovo, Deliveroo or Amazon. According to El Confidencial, the whole negotiation is a big mess, with all parties unhappy

Interesting reads 🤓

  • Daniel Diez, former colleague of mine at K Fund, launched a publication called Phoenix Down, where he interviews international founders about their failures. Check it out here
  • Samuel Gil of JME wrote 'The magic of unbundling'
  • Javier Escribano (CPO at Ontruck) has put together a live webinar on June 29th about OKRs for product, engineering and data teams

Podcasts 🎧

  • K Fund interviewed Jordi Romero, CEO of Factorial
  • Itnig interviewed Ana Villanueva of Tiko
  • interviewed Carlos Liebana of Factor Libre
  • Jordi Altimira held a roundtable about company fundraising featuring, among others, Carmen Alfonso Rico of Samaipata and José Bayón, CEO of ENISA