Dealflow.es #468: RevenueCat raised €50M. a16z makes debuts in Spain. MercadoLibre buys Alice.
Dealflow.es #468: RevenueCat raised €50M. a16z makes debuts in Spain. MercadoLibre buys Alice.A weekly summary of everything that happened in the Spanish startup and tech investing ecosystem.For Dealflow sponsorship opportunities, email me at jaime@dealflow.es If you want to also keeup up with what’s going on in the French and LatAm ecosystem, sign up to our sister newsletters Dealflow France 🇫🇷 and Dealflow LatAm. This week’s newsletter is sponsored by OVH:
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:
Spanish investors active abroad:
Other news:
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:
New startups, products & features:
Foreign companies active 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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