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Lots of M&A. esPublico (€500M). Reby (€100M). Scalefast and Hdiv.

May 16, 2022 • Issue #319

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Startup funding news 💸

  • Madrid-based Cabify received a €40M loan from the EIB to, among other things, add 1,400 electric vehicles to its fleet
  • Barcelona-based proptech Housfy raised €30M to make inroads into Portugal and Italy, led by UK firm Frog Capital
  • Madrid and US-based customer service automation startup Lang.ai raised $15M, led by Nava Ventures. More on the deal here and here
  • Barcelona-based Freeverse.io raised €10M to turbocharge digital ownership in NFT world, co-led by Earlybird and Target Global
  • Barcelona-based foodtech Cubiq Foods raised €5.75M
  • Madrid-based IoT company Barbara IoT raised €2.5M, led by Caixa Capital Risc and Iberdrola
  • Madrid-based fitness and creators platform Dudyfit raised €2.5M from JME, Athos Capital, Enzo and others
  • Barcelona-based roboadvisor inbestMe raised €2M
  • Madrid-based Datadope raised €1M
  • Other rounds of funding: Ecomagnet, CommonSense, Zeemcoin, Micole, Simskills,

M&A activity 🎊

  • TA Associates to acquire esPublico for €500M. esPublico specializes in selling software to the public sector
  • Barcelona-based micromobility startup Reby acquired by PE firm House of Lithium for $100M. Pep Gómez and the rest of the management team will continue at Reby. The company told TechCrunch that it closed the year with approximately $15M of revenue with approximately $3M EBITDA. Reby had raised around $18M
  • Madrid-based end-to-end eCommerce solution provider Scalefast was acquired by Irish company ESW. Terms of the deal were not disclosed. Scalefast had raised $32M in funding, according to Crunchbase, from various investors including Spanish firm Adara Ventures. Scalefast is the third exit since the beginning of the year for Adara, given the prior acquisitions of Hdiv by Datadog and Kompyte
  • Colvin acquired Italian competitor Bloovery to expands its footprint in the country
  • Ebury acquired Brazilian french startup Bexs
  • Several Spanish ecommerce companies in the wine sector have been sold in the past few years, including Uvinum, Bodeboca and in February of this year Decantalo. El Confidencial published an overview of the sector

Investor & accelerator news 🚀

  • Seaya Ventures new sustainability fund gets Article 9 classification, as part of the EU’s new sustainable finance regulations, which aim to hold self-described “sustainable” investment vehicles to account
  • Mouro Capital, formerly known as Santander InnoVentures, participated in the €50M round of Austrian logistics company Byrd
  • Inveready invested €4M in French AI company Arcure

Startup news 💡

  • FX software provider Kantox sits at €20M ARR after growing 40% YoY and posting positive EBITDA. The company has also made corporate structures as a consequence of Brexit
  • Fintech startup Novicap said that in 2021 it increased its business volume to €300M, 84% up from the previous year and almost 200% more than pre-pandemic levels. The company also announced management changes, with two of its founders taking a step back from the daily operations of the company
  • Typeform launched a new product called Relayed, which aims to help people have fewer and better meetings through async and audiovisual communications
  • Wallbox announced its financial results for Q1 2022, with revenues of almost €26M, almost 3X the amount in the same quarter of last year
  • Jobandtalent appointed former Klarna and Farfetch leader Jon Kamaluddin as new Chairman
  • Jotelulu, a a cloud platform that transforms small IT companies into cloud service providers, launched in Portugal
  • Expansion published a profile of various startups that help others operate and sell in China, including Monkey Markets
  • Repsol and fleet management company Pulpo announced a partnership to promote the services of the latter to providers and customers of the former
  • Jeff to launch its services in the UK, Greece and Cyprus
  • Startup profiles:
  • Colibid: fintech and mortgages
  • Internxt: cloud hosting and file transfer service

Interesting reads 🤓

  • Marcos Paulucci, software engineer at Glovo, published "The Discounts microservice", a post on how Glovo approached the process of extracting the discounts feature and product from its monolith
  • El Español published a profile of David Tomas, co-founder of Cyberclick and business angel in companies such as Deporvillage, Mailtrack, Habitissimo and many others
  • Juan Lopez, partner at Kibo Ventures, published "El secreto de las startups más exitosas de España"

Podcasts 🎧

  • Life on Mars interviewed Mike Counihan of Transcent Partners, to chat about M&A
  • Ancla interviewed Nico Bour, currently CEO of Joppy and previously co-founder of Uvinum
  • Outliers interviewed Javier Torremocha, co-founder of Kibo Ventures
  • Tadatic interviewed Regina Ferré, talent acquisition manager of Freshly Cosmetics
  • Startasap interviewed Victor Font, COO of Viko
  • Itnig interviewed Federico Larsen, co-founder and CTO of Copado
  • Planeta M did a roundtable on DTC with Jaime Mesa, Pablo Renaud and Xisco Acuñas

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