2018 saw 34 exits, €1.3B in funding for Spanish startups

- January 3, 2019

The hard-working number crunchers at El Referente report that Spanish startups raised €1.312 billion in funding and investments and made 34 exits in 2018.

Spanish Startup Funding in 2018

2018 was a record-breaking year for investments into Spanish startups thanks to a few startups that received major funding and investment rounds — over €500 million was raised in August alone.

Read More: Another record of €525M invested in Spanish startups in August : report

This increase was due, in part, to the round made by Naspers into Spain’s Letgo last August for an amount of €430 million, representing 32.7% of the total investment of the year.

In 2017 Spanish startups raised a combined €840 million while €568 million was raised in 2016, according to El Referente.

Out of the 199 operations carried out in 2018, seven of them carried 65.4% of the investments for the year, while the rest of Spanish technology sector (192) obtained a cumulative €449.32 million.

To give an idea of how the money was distributed, El Referente breaks it down into three chunks:

  1. Naspers’ investment in Letgo for €430 million
  2. €430.88 million was raised by six startups, representing 32.7% of the investments in 2018
    1. Cabify (€130M)
    2. Glovo (€113M)
    3. Flywire (€85.6M)
    4. Travelperk (€38.38M)
    5. Spotahome (€33.9M)
    6. iHealth (€30M)
  3. €449.32 million corresponded to the other 192 public operations carried out during 2018.

Spanish Startup Exits in 2018

2018 closed with a total of 34 public exits in the sales and acquisitions of technology companies founded by Spanish entrepreneurs, according to El Referente.

Here are the Spanish startups that made public exits and acquisitions in 2018:

Klikin, the platform that helps companies to manage and retain their customers, was acquired by Repsol.

SVT, a Catalan provider of cloud hosting services, was acquired by the Gigas Group.

iSalud, the leading buyer and broker portal specialized in medical insurance in Spain, was 60% acquired by CNP Partners.

Paradigma Digital, a company dedicated to the development of software specializing in solutions for large companies, was acquired by Indra.

TransferZero, the Spanish fintech that specializes in sending money to users and companies in 200 countries in more than 50 currencies, was acquired by the largest blockchain company in Europe and Africa, BitPesa.

Respiro, a company specialized in hourly car rentals in Madrid, was acquired by SEAT.

Gym For Less, the mobile app for gym goers, was acquired by Sodexo.

Adman Interactive, a startup specialized in digital advertising for video through bidding systems, was acquired by AcuityAds.

Erasmusu, an online community of international students with a transactional model of housing rentals, was acquired by Spotahome.

Ticketea, the Spanish website that helps discover events and easily buy tickets from a variety of live experiences, was acquired by Eventbrite.

Mitula, the search engine of classified ads for real estate, vehicles, and jobs, was acquired by Lifull Co.

Pubeco, a free, online and organic alternative to the traditional mailbox, was acquired by Tiendeo.

El Armario de la Tele, an ecommerce fashion store, sold its digital and operating rights to Moddo.

Mens Eat, a messenging and distribution services startup, was acquired by Mission Box.

ClubKviar, a reservations platform with concierge services that works with more than 300 exclusive restaurants in Spain, was acquired by Resy.

Ability, a Colombian provider of cloud hosting services, was acquired by Madrid’s Gigas.

Nextel, a cybersecurity company, was acquired by Sonae IM.

Instant Credit, a Spanish startup that offers consumer loans at the physical and digital point of sale, was acquired by InnoCells.

Legal3, the professional management software company developed by LIT (Legal Innovation Technology), was acquired by VLex.

Aplazame, a Spanish fintech startup, was acquired by WiZink.

Uvinum, an ecommerce platform for wine, beer and other gourmet products, was acquired by Pernod Ricard.

AlienVault, a company owned by Adara and other well-known international investors, was acquired by AT&T.

New BIC, the Spanish parent company of the Comextic and Rubicon brands, was acquired by Devoteam Drago.

Promofarma, a marketplace that catalogs more than 500 pharmacies and other sellers, was acquired by Zur Rose.

Captio, an expense management startup, was acquired by Certify.

PAYTPV, an emerging company that acts as a provider of online payment services, was acquired by InnoCells.

Kiuwan, a SaaS solution focused on 360º application security, was acquired by Idera.

Planeta Huerto, an online store of products for a healthy and sustainable life, was acquired by Greenweez.

Weblogs, a blog network of 30 specialized digital publications including Engadget, was acquired by Webedia.

Zhilabs, a Spanish software company, was acquired by Samsung.

ReformAyuda, a company focused on connecting clients and professionals in home renovations, was acquired by Cronoshare.

IdeaFoster, a company based in Spain that offers rapid innovation and prototyping services for front-line clients in Europe, the United States and Latin America, was acquired by Canvia.

1Rent, a Spanish car rental service, was acquired by DriiveMe.

Eldesmarque, a sports blog, was acquired by Mediaset.

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Tim Hinchliffe

Tim Hinchliffe the editor in chief at Novobrief. Previously, he was a reporter for The Ghanaian Chronicle in West Africa, and Colombia Reports in South America. Principal at Espacio.