Awaiting keywords...

Letgo raises $175m. ReviewPro sold for $28m.

June 8, 2019 • Issue #51

Startup funding news

  • Barcelona’s Letgo raised $175 million for its used goods marketplace and to continue to compete against OfferUp in the US. El Español has some interesting details about the current cap table of Letgo, following its merger with Wallapop’s business in the US
  • Sevilla-based travel startup Glamping Hub raised $2 million, in a round led by Alma Mundi Ventures
  • Alma Mundi Ventures also invested “millions” in Switzerland-based AI startup Nnaisense
  • Mom2Mom raised €536,000 from Business Administration and Grupo Zeta
  • Barkibu raised €500,000 to power its marketplace for pets
  • raised €405,000 for its fitness marketplace
  • Celicity, a food subscription service for people with coeliac disease, raised €275,000
  • Energy startup Kwiil raised €175,000

Startup exits

  • ReviewPro sold a majority stake to China’s Shiji for $28 million. ReviewPro had raised more than €5 million from Active Venture Partners and other investors
  • Real estate classifieds company Habitaclia was acquired by Schibsted Spain. Terms of the deal were not disclosed. Hemerotek looked into the biggest exits in Spanish history in the classifieds sector
  • Odigeo eDreams acquired budgetplaces
  • Who will end up buying Euskaltel?
  • Indra to raise €2.5 million to acquire Tecnocom

Investor & accelerator news

  • Pablo Ventura (K Fund): everything you need to know about convertible notes
  • Equity crowdfunding startup The Crowd Angel pumped €4.3 million into Spanish companies in 2016
  • Carlos Blanco wrote about his 24 investments as a business angel in 2016
  • Juan Luis Ramirez is Ascri’s new president

Startup news

  • AlienVault expands leadership team with appointment of CRO to fuel next stage of growth
  • Weekendesk reached €78 million in sales in 2016
  • Antai Venture Builder launched, ’Como una marmota’, a new company that sells mattresses online
  • StepsLife is Pau Garcia Mila’s new startup
  • Farmidable is a new food tech startup connecting producers and consumers
  • Food delivery startup Wetaca launched in Barcelona
  • Tallerator generated €3.5 million in 2016
  • Interview with Orazio Corva of Car2go, which grew its user global user base by 43% in 2016, reaching 2.2 million
  • Groupalia to go into administration soon
  • Uber relaunched UberEats, this time in Madrid
  • SocialDrive, an app to share traffic information, has 1.8 million users
  • Interview with Joan Rovira, co-founder of Deliverea
  • Europastry to start selling directly to consumers via Ulabox
  • Interview with Daniel Seijo and Remo Domingo, the current directors of Meneame
  • Interview with François Derbaix, of Indexa Capital

Big company news

  • Zed’s crisis is worse than ever: El Confidencial has a good summary of what’s going on. El Español profiled Perez Dolset
  • Movistar+ to spend €100 million per year in original content to compete with Netflix and HBO
  • The Spanish banking industry to cut 10,000 additional jobs in the next few years, partly as a consequence of technology
  • Francisco Gonzalez (BBVA) about the future of the banking industry: “Some large banks, the big tech companies and a few startups”
  • Google’s Nest is now available in Spain
  • A Spanish judge wants to question American Express executives about stealing IP from Spanish startup Trappit
  • Alibaba says it will open its first office in Spain in the first half of 2017

Interesting reads

  • Tomas Santoro, of SumaCRM, shared his company’s cash flow Excel sheet
  • Mobile World Capital published a report on the Spanish startup ecosystem in 2016
  • The technology legacy of the former US ambassador in Spain