Fever raised $100M. Wallapop takeover? DH & Glovo
June 9, 2025 • Issue #470

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Startup funding news 💸
- €20M+ rounds:
- Fever, the Madrid-based event discovery and ticketing platform, raised over $100M (~€87M) across multiple transactions throughout 2024, led by L Catterton (owner of Louis Vuitton and Goiko) and Point72 Private Investments (controlled by the NY Mets owner). Fever also announced the acquisition of UK-based DICE to build a leading global live entertainment tech platform. The company operates in 40+ countries and reached positive EBITDA in 2024
- Not a round per se (yet), but still relevant: Wallapop may see its ownership shift as Naver considers increasing its stake beyond the current ~30% via a secondary share purchase initiated by US fund 14W. Accel and Insight, long-time investors with ~15% each, hold the key to Naver potentially taking control. A full buyout could follow if agreed. Wallapop was last valued at €800M, with recent secondaries potentially priced at a 20-25% discount.
- €5M to 20M rounds:
- HolaCamp, the Catalan camping operator, secured €21M in debt financing from Banco Santander’s Smart Fund to expand its glamping portfolio, upgrade existing sites, and advance sustainability and digitalization efforts
- Wallbox raised $15M (€13.1M) in a new round led by Spain’s SETT (Sepi Digital), with participation from Iberdrola, Orilla Asset Management (Francisco J. Riberas), and CEO Enric Asunción. The capital injection comes amid debt restructuring talks and NYSE listing pressure, as shares trade below $1.
- Aistech Space, the Barcelona-based satellite startup, raised €8.5M as part of a €30M Series B round. The investment includes €8M from Global Portfolio Investment (GPI), the family office of Mayoral’s owners, and €0.5M from Pelliga Family Office. Funds will support the 2025-2028 deployment of its Hydra constellation, which monitors Earth’s temperature via thermal imaging
- Latent Technology, a London-based game tech startup founded by Spanish entrepreneur Jorge del Val, raised $8M in seed funding led by AlbionVC and Spark Capital.
- Semi Zabala, a Basque startup specializing in GaN power semiconductors, raised €8.5M to support its industrial expansion
- €1M to €5M rounds:
- Dedge Security, a Barcelona-based data security startup, raised €4M in a round led by Tritemius. Dedge offers a full lifecycle Web3 security platform that integrates code-to-chain protection for decentralized applications
- eSave, a Spanish startup automating sales processes for energy and telecom providers with AI, OCR, and computer vision, raised €3.2M. The round was led by Seaya Ventures, joined by Suma Capital
- Ideeea Therapeutics, a Madrid-based biotech startup focused on advanced therapies, raised €2.3M in a seed round
- Akka, the investment club democratizing access to startup investing, raised €2.2M to expand its platform and open new clubs in Italy and the Nordics. Founded by Pedro Buerbaum (La Pollería, Worldcast) and Thomas Rebaud (Meero), Akka allows individuals to invest in high-potential startups from as little as €1k
- Ironchip, a Barakaldo-based cybersecurity startup, raised €1.5M in a round led by Sabadell Venture Capital. Ironchip develops location-based authentication tech using electromagnetic signals, securing over 5M users in sectors like finance, industry, and public administration
- Drimer, a Barcelona-based travel-tech startup using AI to automate travel bookings, raised €1.3M in a round led by Demium VC. Founded in 2023, Drimer helps travel agencies instantly create full itineraries, tripling revenue in its first year and preparing for international expansion.
- Other rounds of funding:
- Willbe, a Madrid-based startup developing AI-powered sales optimization tools, added Angels Capital, Juan Roig’s investment firm, and Grupo Adaptalia as strategic investors
- Amadeus Ventures invested an undisclosed amount in Barcelona-based Acai Travel, a generative AI startup transforming operations for OTAs, TMCs, airlines, and hotels
M&A activity 🎊
- Idealista faces regulatory hurdles in its acquisition of Kyero (Portal47), a niche portal for international property buyers. Portugal’s competition authority opened a phase 2 investigation citing concerns over local market concentration, while Spain’s CNMC is still reviewing the deal.
- Avatel Telecom, Spain’s fifth-largest telecom operator, was acquired by Pangea Telecom, jointly owned by Vaiia Kapital (Víctor Rodríguez) and Inveready (Josep María Echarri). The deal values Avatel at €250M (equity value), with an additional €100M capital injection, bringing the total to €350M. Inveready holds 40%, while Vaiia controls 60% of the company
- Indra is in advanced talks to sell its BPO division, part of Minsait, to Servinform for around €100M
Investor & accelerator news 🚀
- Sifted wrote about a16z’s scout program in Europe. The only Spaniard in the list is Guli Moreno, co-founder of Capchase. Scouts can write $10-25k tickets at pre-seed and seed stages
- Spanish investors active abroad:
- GoHub Ventures participated in the €8.2M Seed round of Swiss healthtech startup Aeon, which develops AI-powered chronic disease management solutions.
Startup news 💡
- Bloom, a YC-backed startup, launched its no-code platform allowing anyone to build and share native mobile apps instantly, without developer accounts, backends, or app store reviews. The company was co-founded by Spaniard David Oort Alonso
- Patrik Bergareche announced his departure from Just Eat Takeaway.com after 9 years, where he served as EVP Southern Region and ExCo member overseeing a €1.8B GTV business with 1,400 employees. He led major growth phases across Spain, France, and Israel, and hinted at a move into Europe’s AI and tech innovation scene following his exit
- Crescenta launched Crescenta Silver, a secondary marketplace for existing LPs. The platform allows current investors to sell part or all of their private equity fund commitments, providing liquidity options, while enabling others to enter or expand their positions in Crescenta’s funds
- Delivery Hero, parent company of Glovo, doubled its legal provisions to €900M in 2024 to face mounting fines, with potential liabilities exceeding €1.3B
- Clicars, the Spanish refurbished car sales platform, reached €162M in H1 2025 revenue and unveiled a full rebranding to position refurbished cars as a “third category” between new and used vehicles. Part of Aramis Group, Clicars operates two factories in Madrid and Valencia, with a 30k vehicles/year capacity, and has sold 80k+ cars since launching in 2016
- BusUp, the Barcelona-based corporate mobility platform, targets positive net income by 2026 after reaching positive EBITDA in April 2025. The company expects to grow revenue from €37M in 2024 to over €48M this year (+30%)
- Taxdown, the Madrid-based tax filing platform, aims to reach profitability in 2025 with over €12M in revenue, doubling last year’s figures. The company faces strategic questions on international expansion and AI competition. Currently active in Spain and Mexico, Taxdown is also growing its B2B channel, which now contributes over 20% of revenue
- Holaluz secured judicial approval for its €57M debt restructuring plan, extending refinancing terms until 2028 without debt haircuts
- Startup profiles:
- Profile of Shakers, the Madrid-based platform connecting freelancers with large corporates, that raised €14M in May 2025. The platform works with 40% of Ibex 35 companies, operates in Portugal, and plans expansion into Italy.
- Other news:
- Telefónica Tech signed a collaboration agreement with Spanish startup Zylon, the team behind PrivateGPT, to strengthen its AI offering. Zylon’s privacy-focused generative AI platform can be fully deployed on clients’ infrastructure, ensuring data control and independence from public clouds. More info here
- Defense tech startup XRF was the only Spanish startup selected for the first cohort of the European Commission’s EUDIS Business Accelerator
- International startups active in Spain:
- Revolut announced plans to install 200 ATMs in Spain by 2026, starting with Madrid and Barcelona, and later expanding to Valencia and Málaga. The neobank, with nearly 5M users in Spain, is launching its first physical ATM network to meet local demand for cash withdrawals, which still represent 60% of in-person payments
- Trade Republic to start offering funds with full tax advantages and Spanish IBANs to its 1M clients in Spain—its third largest market.Trade Republic also plans to introduce payroll accounts in Sp ain, following launches in Germany, France, and Italy
Big company news 🏦
- BBVA prepares to launch its digital bank in Germany this summer, after its success in Italy. The Spanish bank hired several former executives from N26 and Klarna to lead the expansion
- Government news:
- The Spanish government approved a draft law allowing Hacienda to seize crypto assets from taxpayers with outstanding debts
- The Spanish government is considering revising its Startup Law, less than three years after its approval. While not planning a full reform, the Ministry of Digital Transformation has launched consultations with the sector to address barriers for scaleups that fall outside current startup definitions
Interesting reads 🤓
- Luigi Mallardo shares the GTM playbook behind Woffu’s 9-year SaaS journey, scaling from €2k MRR to an acquisition by Visma. Key lessons: sharp product focus (time management), efficient growth without heavy VC funding, disciplined outbound and customer success engines, and a proactive exit strategy
- Two interesting articles by Iñaki Berenguer:
- El nuevo trabajo humano: director de orquesta de herramientas de IA
- Healthcare has become the hottest AI vertical in Venture Capital
- Javi Santana (Tinybird) published “Que viene el lobo”
- Dean Romero, founder of DinoRANK, shares how he grew his SEO SaaS from 0 to nearly €1M ARR using a strategy based on inbound marketing (blog + daily emails), webinars, and SEO, while dealing with a high churn rate (12-15%)