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Startup funding news 💸

According to Ecotechers, a16z is backing Supersonik, a Barcelona-based startup founded by Daniel Carmona (former founder of Aldara). This would be a16z’s first investment in Spain

US-based RevenueCat, the subscription infrastructure startup founded by Spanish entrepreneur Miguel Carranza, secured €50M in Series C funding to expand beyond mobile app monetization. More info here. Jason Lemkin of Saastr Fund, wrote about the company’s trajectory here: “How SaaStr Fund-Backed RevenueCat Went from a $1.5M Round at $7M Valuation in 2018 to $500M+ Today”

Sevilla-based Catalyxx raised €3M from Axon Partners Group to boost its sustainable chemicals R&D center. The startup, focused on developing eco-friendly chemical solutions, will use the investment to expand its research facilities and accelerate the development of sustainable alternatives.

Fintech WealthReader obtained €1M in funding to strengthen its position in the open banking sector. Investors include itnig and Angels Capital

Cybersecurity startup Seven Sector closed a €315k funding round with Iris Venture and Encomenda

Barcelona-based proptech habitacion.com raised €1.3M in a round led by Demium Capital, with participation from Ebisu Digital VC, Dozen Investments, and angels like Fernando Cabello-Astolfi and Iván Peña. The startup lets users invest in individual rooms from €100, aiming to transform real estate access.

M&A 🎉

MercadoLibre acquired Spanish startup Alice Biometrics, marking its first-ever acquisition in Spain. Based in Galicia, Alice emerged as a spin-off from R&D center Gradiant and specializes in facial recognition for secure digital identity verification. Backed by Mundi Ventures and regional VCs, Alice posted €2.3M in revenue in 2023 and will continue operating under its brand.

Norwegian classifieds group Adevinta hired Goldman Sachs and LionTree to explore the sale of its Spanish business, which includes Fotocasa, Infojobs, Milanuncios, Coches.net, Motos.net, and Habitaclia. The company, controlled by Blackstone and Permira, aims to focus on its core markets (Germany, France, and Benelux) and improve profitability. The Spanish business, which generates around €130M in EBITDA, could be valued at over €2B, following recent high valuations in the online classifieds sector

Castellón-based tech company Cuatroochenta acquired Barcelona's 3ipunt, a company specialized in designing and customizing e-learning platforms based on Moodle. The acquisition, which is 100% equity and debt-free, adds a company with €3.4M in 2024 revenue and a 27% CAGR since 2020. This marks Cuatroochenta's eighth acquisition since 2019 and strengthens its Value-Added Reseller (VAR) segment, joining other partners like Ekamat and Conpas

PE firm Cinven explores the sale of Spanish fiber operator Ufinet for €6B. The company, which provides wholesale fiber services across Spain and Latin America, has attracted interest from infrastructure funds and other private equity firms

Investor & accelerator news 🚀

New funds:

• The European Investment Fund (EIF) and Spain’s CDTI launched a €353M vehicle called “Innvierte Deep-Tech Tech Transfer” to boost tech transfer and deep-tech. The vehicle will invest in funds that back companies in those categories. CDTI contributes €300M, EIF €53M, with the latter managing the fund selection process

• Acurio Ventures launched Acurio Opportunity FDF II, a €100–200M fund-of-funds targeting top-tier European VC managers for secondary transactions. Ander Michelena joined our podKast where he talked about this new fund. The vehicle will acquire stakes from LPs that need liquidity, accrued carried interest and stakes of as much as 20% of entire portfolios

Spanish investors active abroad:

• Ysios Capital participated in a $65M Series A round for US-based ReproNovo, a biotech company developing therapies in reproductive health

• Seaya participated in the €23M round of German startup Aufinity Group

• Kfund participated in the €5M round of French startup Riverse

• Banco Santander invested €1.5M in French fintech Feedgy through its venture arm Santander InnoVentures

Other news:

• elEconomista did an analysis of the Spanish venture debt market and its main players. Institutions like BEI, Santander, BBVA Spark, Sabadell, and CaixaBank are backing this trend—BEI alone has invested €6.7B in 300+ firms, while CaixaBank plans €150M over five years. Santander committed €120M in 2024

• AEBAN and IESE published its 2025 report on business angel investment activity. Full report available here. Average capital invested per angel in 2024: €95,525 (median: €20,000). Adjusted average (excluding outliers): €45,365. Exits remain rare: 65% reported no exits in 2024. Among those who did, 61% sold to other angels or VCs, while 26% exited via strategic acquisitions

Batir a largo plazo al mercado es complicado, y poca gente lo consigue. Si además no tienes tiempo o conocimientos para invertir en bolsa, lo mejor que puedes hacer es utilizar Indexa Capital.

Invierte con Indexa

Startup news 💡

Wegow filed for pre-insolvency protection amid financial difficulties. The Spanish live music ticketing platform, founded in 2015, cited sustained losses and a complex post-pandemic recovery as key reasons. The move gives Wegow a four-month window to renegotiate its debt and seek potential investors or buyers while continuing operations.

Glovo’s former Chief People Officer testified before a Barcelona court but avoided implicating CEO Óscar Pierre in the company’s alleged labor violations. The case relates to Glovo’s use of false self-employment practices, for which it has already received multiple fines. Glovo recently turned 10. EU-Startups published a profile of the company given the anniversary

European and US VC firm Red River West published a ranking of Spain’s top 10 startups based on its proprietary momentum engine

Startup financials:

• Urbanitae crossed €150M in financing for luxury and prime real estate projects across Spain and Portugal. Interview with CEO Diego Bestard here

• Cooltra grew its revenue by 32% in 2024, reaching €60M, with positive EBITDA maintained since 2019. The B2C segment drove growth with €45M (+42%) from shared and rental mobility services across Europe. The B2B division earned €14.5M (+4%)

• Valencian omnichannel jewelry brand Singularu reached €30M in revenue in 2024, a 25% increase YoY. The company, which operates over 40 stores in Spain, now plans to enter Portugal, Italy, and France.

• Remotely Works reported $37M in annualized gross revenue and $6M in net ARR, with 400 Latin American developers now placed in U.S. tech jobs.

• Home services startup Wolly reached profitability in March and expects to double its revenue in 2025 to €3.5B. It currently operates in over 50 cities

New startups, products & features:

• Galician startup Alén Space will launch its Satmar nanosatellite on June 21 aboard a SpaceX Falcon 9 rocket. Developed entirely in Galicia, Satmar aims to improve maritime communication

• MITO, the audiovisual tech venture co-founded by Danny Saltaren, shared a detailed vision for its early roadmap. Rejecting the race to replicate existing platforms like Flora or Veo3, MITO aims to become a creative-first marketplace—more production hub than SaaS—empowering top talent with internal tools and experimental workflows

• Glovo partnered with German fintech Finmid to offer instant lending to local merchants on its platform. The new embedded finance solution allows restaurants and shops to access flexible financing directly through the Glovo app.

• Laagam opened its first physical store in Madrid and is expanding to Mexico, marking a new growth phase for the Barcelona-based fashion brand

Foreign companies active in Spain:

• ReproNovo raised $57M (€52M) in a Series A round to advance its reproductive health therapies. The Swiss biopharma, backed by Ysios Capital, also announced it will open a new office in Barcelona to strengthen its presence in Spain

Big company & policy news 🤓

🍿 Indra is facing internal turmoil after Luis Abril, CEO of its Minsait division, resigned over a proposed acquisition of Escribano Mechanical & Engineering (EM&E) — a defense firm owned by Indra’s own chairman, Ángel Escribano. Abril opposed the deal citing a conflict of interest, and his departure follows growing unrest among independent board members

Seidor closed 2024 with €1.125B in revenue (+28%) and aims to double sales within five years, backed by Carlyle, which now owns 60% of the company. The Barcelona-based tech consultancy has expanded beyond SAP for SMEs into cloud, cybersecurity, AI, and data services

LinkedIn has laid off part of its team in Madrid as part of Microsoft’s global workforce reduction affecting 6,000 employees (3% of its total). The cuts in Spain impacted LinkedIn’s marketing, advertising, and talent acquisition teams, affecting 10–20% of the ~50-person local office

Wise plans to open an office in Madrid or Barcelona in 2025 and is seeking partnerships with traditional Spanish banks to expand its Wise Platform. The UK-based fintech, which handled £145B in FX volume last year, is also considering applying for a Spanish IBAN to overcome operational hurdles

Interesting reads 🤓

Anna Piñol and NFX published “Voice AI is Working. Here’s Where It Wins First“

Enrique Linares (former Letgo, now Plus Partners) published “Los 5 temas para saber si un VC te va a ayudar… o complicar la vida”

Iñaki Berenguer shared his entrepreneurial journey in Forbes, reflecting on the “irrational hunger” that has driven him to build and exit multiple startups

VC firm Yellow published a fundraising deck template for founders

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