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Letgo raises $100M at a $1B+ valuation. LogTrust raises $35M. Glovo gets $30M.

June 25, 2019 • Issue #82

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Startup funding news 💸

  • Used goods marketplace LetGo quietly raised $100 million more at a $1B+ valuation
  • LogTrust announces $35 million in funding from Insight Venture Partners
  • Glovo raised €28.5 million at a €40 million pre-money valuation. The round was led by Rakuten
  • Bipi (llollo) raised €2.5 million from Kibo Ventures

Startup exits 🎊

Investor & accelerator news 🚀

  • Kibo Ventures announced Vernon as operating partners
  • SeedRocket 4 Founders is hiring

Startup news 💡

  • Life beyond Hawkers: other digital brands that are successfully selling sunglasses online
  • €3.8 million and €5.6 million: those were Deliveroo’s sales and loss in Spain in 2016. Delivero also announced this week that it’s expanding its services to five more cities
  • Bubocar, a startup that aims to change how most cars are repaired, is now live in Barcelona
  • Indexa Capital announced that it has more than 2,500 clients and now manages €50 million
  • Hawkers has been forced to also allow cash payments at its retail store in Madrid. In the beginning, the company only accepted credit and debit cards. Northweek, a brand also owned by Hawkers, has a new director: Carles Guerrero Santiago, former Twitter employee
  • Groupalia has once again postponed a trial aimed at solving its financial situation
  • Startup profiles: Teltoo (P2P tech to optimise video infrastructure), Parlam (translation services marketplace), Chronoshare (local services marketplace), Netrivals (SaaS for ecommerce price optimisation), Flykube (travel)

Big (local) company news 🏢

  • How BBVA is understanding cities by analyzing credit card data using Carto
  • eDreams has finalised the integration of Budgetplaces (which it acquired earlier this year) and also announced a new tech product aimed at travel providers
  • Changes at Schibsted Spain: the former chief revenue officer of Wallapop is now the head of Vibbo

Big (foreign) company news 🏦

  • Google’s numbers in Spain: €92 million in revenues (+38% YoY), €6.4 million paid in taxes (3X YoY)
  • Amazon’s CTO Werner Vogels to inaugurate Madrid’s South Summit event
  • Amazon is changing the way some of its orders are delivered in Spain, signing agreements with small and local companies to be responsible of last mile deliveries. The ecommerce giant also announced that it has a new content manager for the Spanish market
  • Alibaba has opened a subsidiary in Spain

Tech and policy 💂🏼

  • The Spanish taxi association doesn’t want the VTC (the type of licenses that Cabify and Uber use) to be deregulated
  • Spain’s larger retail companies demand law changes to be able to “fairly” compite against Alibaba and Amazon

Interesting reads 🤓

  • The story of Panoramio: 10 years since Google’s first acquisition in Spain
  • How technology is trying to make the real estate sector in Spain more transparent
  • A Telegram channel that broadcasts product offers has now more than 100,000 subscribers
  • A study says that a better ‘Ley de Emprendedores’ (the Spanish law that tried to make life easier for entrepreneurs) could have created 1 million new jobs