Awaiting keywords...

Verse's co-founders are no longer at the company. Glovo to reach €10m in sales in 2017. Miguel Arias to leave Carto and join Telefonica.

June 25, 2019 • Issue #91

Offices available for teams up to 40 people at The Foundery, Barcelona’s coolest space for startups and freelances. Located in a unique building in Plaza Real, only a 5 minutes walk from Pier One, one of the city’s most lively startups hub, we have completely equipped offices of 325, 200,150, 40 and 20 sq meters, and a beautiful rooftop with 360 views to Barcelona. We also offer space for corporate events and coworking space. Ask for information now and get a 20% discount the first month!

Startup funding news 💸

  • Spanish startups have raised €845 million so far in 2017 across 195 deals, according to Startupxplore
  • Agora Images raised €625,000 from Esade BAN
  • Amadeus Ventures invested in Barcelona-based AVUXI, the startup that ranks the popularity of every place on earth
  • Business angel network BA Swan invested in myABCKit and TeamEQ

Investor & accelerator news 🚀

  • Inveready announced a new €16 million venture debt fund, called Inveready Convertible Finance
  • US investment fund King Street Capital plans to buy up to 2,000 VTC licenses, the kind used by Cabify and Uber to operate in Spain
  • Conector Galicia accelerator announced its first fintech startup competition
  • Genesis Ventures is a new biotech venture firm based in Barcelona
  • Interview with Carlos Domingo of SPiCE VC
  • Edtech startup accelerator SEK Lab announced its latest batch

Startup news 💡

  • The three founders of mobile payments startup Verse were fired last week
  • Last mile delivery company Glovo had revenues of €1.2 million in 2016. El Español talked to co-founder Sacha Michaud about the company’s plans in the short term. Glovo plans to reach €10 million in sales this year
  • Hawkers plans to open 20 more retail stores in Spain
  • Expansion talked to Softonic’s CEO Scott Arpijan: “Softonic is now smaller but profitable”
  • Various former professional basketball players have launched Globatalent, a blockchain platform to buy and sell sports players rights
  • Startup profile: Clicpiso (real estate marketplace, following Opendoor’s model), Wegow (online ticketing platform for music events), MasAltos (shoe ecommerce), Hurrynow (last mile delivery), Odilo (content as a service, edtech), Brokoli (insurtech)

Big (local) company news 🏢

  • Miguel Arias, Carto’s COO, to be named Telefonica’s new Open Future director
  • From Santander to EVO bank: how are Spanish banks adapting to today’s digital era?
  • Various Spanish traditional taxi companies want pricing flexibility to be able to compete with Uber and Cabify

Big (foreign) company news 🏦

  • El Confidencial published a long piece about the working conditions of workers who deliver Amazon’s packages in Spain
  • Could Amazon sell drugs (medicines) in Spain?
  • Alibaba is poaching talent from Amazon to run its Spanish business
  • AliExpress to start selling Spanish goods, starting with fashion products. Here’s how the Chinese firm plans to compete with Amazon in Spain
  • Orange is getting ready to launch its own bank in Spain
  • Activision Blizzard revenues in Spain are down from €50 million in 2010 to €30 million in 2016

Interesting reads 🤓

  • Great profile of Iñaki Berenguer, the Spanish serial entrepreneur that is now trying to disrupt the US insurance market with Coverwallet. His previous exits include Pixable and Contactive
  • El Confindencial published a piece about the “dark” side of entrepreneurship: building your own business is not easy
  • El Pais profiled entrepreneur and investor Adeyemi Ajao (Tuenti, Identified, investor in Cabify and now at Urizen Ventures)
  • What OnTruck has learned in the process of internationalising its apps

Podcasts of the week 🎧

  • CodelyTV interviewed with Raul Raja, CTO of 47 Degrees
  • MasQueStartups interviewed with Loly Garrido, CEO of Gudog