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Acumba does €2.1M in sales. Startup compensation philosophy. Madrid startup city.

April 18, 2022 • Issue #315

Accelerate your startup at the AWS Summit Madrid on May 4 and 5.

The AWS Summit is a free event bringing together company leaders, technologists, startups, investors, and AWS Partners to share and learn how the AWS Cloud can help accelerate innovation.

You will find sessions focused on business (May 4^th) and technology (May 5^th), technical workshops, demos, and much more. At the AWS Startup Loft, within the Summit, you’ll also find startup-specific sessions, followed by an ecosystem networking cocktail at the Founders Bar by Bit2me on both days.

Save your spot now !

Startup funding news 💸

  • Barcelona-based foodtech Heura raised €4M via Crowdcube
  • Barcelona-based gaming startup Gamestry raised €3M from Goodwater Capital, Target Global, Kibo and Extension Fund
  • Mallorca-based digital twin developer Hotelverse raised €1M
  • Madrid-based fintech startup Reveni raised €800K from JME, Fernando Cabello, Evaristo Babe and others. Reveni provides financing to retailers and consumers when dealing with returns
  • Valencia-based security and hosting startup Internxt said that it has raised funding from Balaji Srinivasan, former CTO of Coinbase, at a valuation of €40M

Investor & accelerator news 🚀

  • Seaya announced a new fund to back existing portfolio companies of its other funds, often called opportunity fund. The fund could also be used to back other smaller funds. This is Seaya's fifth fund, its sixth when taking into account the one launched with Cathay to invest in Latam
  • Equity crowdfunding platform Crowdcube received approval from Spanish equities regulator CNMV to operate in all of Europe. Pepe Borrell, VP international of the company, wrote about the process here
  • British VC firm Atomico launched its fourth angel programme, featuring Spaniard Maria Raga, co-founder of Depop (acquired by Etsy)
  • Madrid-based mid-market investment bank Alantra has acquired a minority stake in French boutique Avolta Partners
  • Bewater Funds published a post on the most common legal clauses included in the acquisition of companies

Startup news 💡

  • Miguel Carranza's RevenueCat updated their compensation philosophy, which they made public in this document. Some of its features: location independent, salary bands, no negotiation available, equity refreshments also at promotion, etc.
  • Ignacio Arriaga, co-founder of Acumbamail, said that the company did €2.1M (+34% YoY) in 2021, and positive EBITDA of €515K
  • Wallbox to invest €10M in its first US electric charger factory. The company estimates that this new plant will create nearly 250 jobs directly in the region by 2030
  • Business Insider profiled Ricard Guillem, co-founder of Cafler, which just announced a €5M raise led by Seaya. Ricard is 17 years old
  • Clikalia says that it wants to end 2022 amongst Spain's top 5 real estate developers. So far, it has facilitated 1,000 home buying processes
  • Xataka published a long profile of SolarMente, a startup that installs and finances solar rooftops in Spain. The company recently went through Y Combinator
  • Jorge Gomez Sancha, co-founder and CEO of Tinybird, was interviewed to talk about the company's initial enterprise GTM strategy
  • Aerospace companies such as Lilium and Destinus have chosen Spain to test several of its flying vehicles. El Confidencial wrote about the decision behind these choices and why Spain has become more competitive for such firms
  • Startup profiles:
  • Tutellus: crypto
  • Housfy: proptech
  • Ritmo: revenue-based financing
  • Ivack: fintech

Interesting reads 🤓

  • Miguel Arias, my colleague at K Fund, wrote "Can Madrid become the Startup City for the next 10 years?" Here in Spanish
  • Duarte Líbano Monteiro, regional director of Ebury, wrote about the relationship between banks and fintech companies and how what first started as pure competition has transformed into more ways of collaboration
  • Luca Brighenti, CEO of 3PW Spain, wrote "Challenges of logistics and ecommerce in 2022"
  • Crypto is the preferred asset for Spanish women in 2022, according to neobank N26

Podcasts 🎧

  • New World of Work interviewed Ariel Camus, co-founder of Microverse
  • Itnig interviewed Alex Puig, founder of Vicio
  • Product Hackers interviewed Elena Gómez del Pozuelo, CEO of Baby Friendly Companies