Welcome to Learning VC💡! I’m Luis Llorens and I write monthly about venture capital, fundraising and my personal experiences as an investor. Subscribe to receive new posts and support my work:

In this post you will find a list of entrepreneurs and startups in the midst of their fundraising endeavours.

In March, we achieved solid figures:

✅  105 startup applications.
✅  Stages: 4% Stealth | 58% Pre-seed | 30% Seed | 8% Series A & B
✅  Geographies: 43% US | 14% UK | 8% Spain | 35% Rest of the world.
🤯 431 Total submissions since Jan 2025

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If you're a business angel or VC and would like to see the list of startups, leave a comment below or scroll to the end of this post.

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I have selected 3 early-stage opportunities, each at a different stage, and provided a brief analysis.

📍 HQ: Barcelona, Spain
🏭 Industry: AI, Deep-tech, Enterprise
☘ Stage: Pre-seed
🚨 Problem: Enterprises struggle with fragmented, generic, unreliable AI solutions. Most tools look impressive in demos but fail in real-world applications.
🔛 Solution: Timbal is the end-to-end ecosystem to build, run, manage and use enterprise-ready AI applications. Our product has 2 main parts: An open-source Python framework that helps developers build AI solutions 10 times faster, and a platform that allows you to run, train, manage, and use these AI solutions.
📱 Product:

🫰 Business model: Pay per use and subscription model depending on the number of apps, knowledge bases, seats and features.
🎯 Ideal Customer Profile: Companies with a technical team (external or internal) capable of using the timbal framework by themselves.
📊 Traction: In just 4 months, they've generated over €100K in revenue and secured 9 clients, each with revenues exceeding €50M, who are actively utilizing our technology.
🏚 Market: The enterprise AI software market is estimated to be $58B in 2025, and is expected to reach $474B by 2030
👥 Marti Norberto (CEO) - Background in computer engineering and a growth hacking mindset.
👥 Isaac Grau (COO) - Telecommunications engineer and former founder of Moments/Vibras, a social app that attracted millions of users.
👥 David Bergés (CTO) - Data scientist and engineer, former founder of Moments/Vibras, a social app that attracted millions of users.
💰 Round: €500K at €3M pre-money valuation.

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📍 HQ: Barcelona, Spain
🏭 Industry: Fintech, Blockchain
☘ Stage: Seed
🚨 Problem: European retail investors struggle to access attractive fixed-income returns. Their options are largely limited to low-yield government bonds and money market funds, leaving them excluded from the higher-yield opportunities available in private credit markets.
🔛 Solution: A simple, user-friendly platform that provides access to institutional-grade, overcollateralized private credit yields backed by digital assets.
📱 Product:

🫰 Business model: We monetize through a spread on total assets under management (AUM), capturing a share of the yield generated.
🎯 Ideal Customer Profile: Retail investors (B2C) in the EU with an average investment ticket above €3,000.
📊 Traction: Over €22 million in AUM and 15,000 active users. Growing at 3x annually in AUM.
🏚 Market: The European retail investment market exceeds €10 trillion in assets, with increasing demand for yield-driven products amid persistent low interest rates and inflation.
👥 Pol Martin (CEO) - Founded Rand at 19. Forbes 30 Under 30 Spain.
👥 Oriol Segundo (COO) - Serial entrepreneur and former founder of World Mastery, bringing deep operational experience and a track record of scaling digital platforms.
💰 Round: €2M, soft commitments received.

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📍 HQ: Barcelona, Spain
🏭 Industry: Fintech, data
☘ Stage: Series A
🚨 Problem: Document and data collection and processing for financial services' core flows is still lengthy, manual and inefficient. 63% avg drop-off in "missing documentation" and 20% of the margin goes to operational costs related to documentation and data collection.
🔛 Solution: Permission-based technology to collect and process docs and data in real-time by directly connecting with private area of public authorities and other relevant sources.
📱 Product:

🫰 Business model: plans (SaaS) + usage + add-ons
🎯 Ideal Customer Profile: Financial Institutions (mid market + enterprise) such as banks, brokers, lending companies, etc.
📊 Traction: 4x in revenue in 2024, Monthly NRR of 104% in avg.
🏚 Market: Targeting a €337B market in open finance, starting in Spain, Portugal and France.
👥 Alvaro Mancilla (CEO) - Head of product at imagin (CaixaBank), CPO at Goin and founder at Workkola.
👥 Honorio Marin (CPO) - Product lead at Goin.
👥 Gabriel Esteban (CTO) - COO at Goin and full-stack developer at different companies.
💰 Round: €5M

Would you consider investing in Timbal, Rand or Bankflip?🤔 ASK ME if you want my personal feedback (POSITIVE FACTORS & CONCERNS)❗

If you’d like to be featured in my next blog post, or recurrent access to the list of startups, let me know!

📜👀 Check out the latest List of Startups in Fundraising for more opportunities that are likely still accepting funding.

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👉 Full list for March: Here

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