Dealflow.es #493: More than €75M raised last week. bound4blue ($44M), Zynap (€6M) & more
A weekly summary of everything that happened in the Spanish startup and tech investing ecosystem.
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Startup funding news 💸
€10M+ rounds
Barcelona-based wind propulsion company bound4blue has closed a $44M (€37.8M) funding round to accelerate the decarbonization of the maritime sector
Fintech Denarius, which provides financial solutions for the healthcare sector, has successfully closed a second funding round of €11.2M
€5M to €10M rounds
Spanish-French startup Ray Studios, a chain of tattoo removal centers, closed a €10M funding round led by Factory Capital and Nickleby Capital
Zynap, a Barcelona-based company specializing in preventive cybersecurity, secured €6M in a seed extension led by existing investors Kibo Ventures and Kfund. This all-equity injection brings the total funding to €12M
€1M to €5M rounds
Elderly care services company Qida secured €4M in venture debt financing from CaixaBank’s Venture Debt fund and DayOne division
Madrid-based Algori, which offers a consumer purchase and behavior data platform for the Fast-Moving Consumer Goods (FMCG) industry, closed a €3.6M additional funding round.
London and Barcelona-based healthtech Punto Health raised a $2.7M seed round co-led by Shilling VC and Plus Partners. The investment will be used to scale its AI-powered platform for dementia and cognitive care across the UK and Spain
Vigo-based Vig-Sec Drone, specializing in advanced airspace management and secure drone integration for critical environments like defense and emergencies, closed a €1M funding round led by Encomenda
Barcelona-based Manglai, which uses AI for corporate environmental management, closed a €1M investment round led by Acurio Ventures
Other rounds of funding:
FYLA, a Valencia-based startup specializing in ultrafast laser-based wireless communications, secured investment from Indraventures, which now holds 24.8% of the company. This is the first deal from Indra’s €200M fund focused on dual-use technologies
M&A news 🚀
Details of Cobee and Forcemanager’s exits. French firm Pluxee has already paid €174M for benefits platform Cobee (€154M upfront plus a €30M earn-out tranche), with a final €20M earn-out payment pending in 2027. UK-based Sage acquired the CRM software Forcemanager for £30M (approx. €35M), integrating it completely into its Spanish structure; Forcemanager contributed £5M to Sage’s revenue in the last fiscal year
Madrid-based PropTech Libeen, which facilitates home ownership for younger generations through a rent-to-buy model, is going public on the Portfolio Stock Exchange and aims to raise €100M in debt/equity in the coming months.
Investor & accelerator news 🚀
Former Groupon Spain CEO Ferdinando Meo and ex-Enel executive Gianfilippo Mancini have launched a new venture capital fund, Corbites Fund II, targeting up to €150M. Managed by Abante, the fund will invest in deep-tech and climate technology solutions
The Spanish Ministry of Industry and Tourism has provisionally allocated €30.5M from the second call of the PERTE CHIP fund to 33 new projects across 10 autonomous communities. One notable beneficiary is Multiverse Computing, which is set to receive €12.7M for critical infrastructure chip design
Spanish investors active abroad:
Kfund invested in Colombian accounting and GA services company Numbi
JME participated in the €10M round of Italian cybersecurity company Equixly
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.
Startup news 💡
New startups and product launches
Nacho González-Barros, the founder of Infojobs, has co-founded a new startup, Hirevoice, which uses voice-based AI to conduct the first round of job interviews
Internxt launched “Internxt AI,” a conversational AI model positioned as Spain’s first 100% sovereign alternative to US/Chinese giants, focusing on absolute privacy
Indexa Capital is set to enter the private markets with the launch of “Indexa Private Markets 2026,” a fund-of-funds. The vehicle will accept investments from €10k for Indexa Capital clients. The fund will invest 60%–90% in private equity funds, 10%–20% in private debt, and up to 20% in infrastructure funds
Startup financials
Filmin, backed by Seaya Ventures and Nazca Capital (who control 84% of the capital), is seeking to consolidate its position amidst the accelerating global M&A activity in the streaming market, despite its owners having failed to secure a sale at an estimated €50M valuation earlier this year. The company, which is profitable and is regarded as the “Gallic village” of Spanish streaming, is expected to surpass €30M in revenue this year, maintaining a growth trajectory from the €26.7M earned in 2024
Spanish mobility company Cabify has quantified the financial benefit of its ESG projects, announcing they contributed €12M to its EBITDA in 2024, representing 36% of the total.
Lleida-based circular economy startup Recomotor, which sells used car parts online to professionals, acquired its fifth salvage yard in Spain. The company reported €4M in sales in 2024 (a 33% increase)
Payflow, which specializes in allowing employees to access their accrued salary on demand, announced it will not pursue new equity financing rounds. The company, which has raised over €20M to date, is profitable and plans to double its current team of 110 employees by 2026
Other news
Interview with Wallapop’s CEO Rob Cassedy. Wallapop got acquired by existing shareholder Naver a few months ago, valuing the company at €650M, but some other existing investors are pushing back on the deal because they don’t think the valuation was fair. Wallapop has 19 million MAUs
Bit2Me strengthened its management team ahead of its 2026 international expansion goals. Pablo Campos (ex-Google, Telefónica) joins as the new Chief Operating Officer (COO), while co-founder Andrei Manuel transitions to Co-CEO, focusing on global strategy
NATO has selected six Spanish companies—Fossa Systems, VIG-SEC Drone, XRF.ai, ATOM H2, Alias Robotics, and Kreios Space—to participate in the next cohort of its Defence Innovation Accelerator for the North Atlantic (DIANA) program
Pablo López Gil-Albarellos, Head of Trade Republic in Spain and Portugal, revealed that Spain is the company’s fastest-growing market, now accounting for over 1 million clients, meaning “one in ten European clients is Spanish
Big company & policy news 🤓
Santander has paid its Global Head of Consumer Business, Nitin Prabhu, who joined form PayPal, a total of €3.36 million in stock bonuses during his first year with the bank. Also, the bank announced that it has strengthened its tech division with two senior hires: José Luis Bellosta, ex-Intrum España, joins as DG of Santander Digital Services, and Felipe Peñacoba, former global CIO at Revolut, becomes CEO of Payments Hub
Interesting reads 🤓
El Referente published its ‘Top 25 AI Startups to watch for 2026’ list
Javi Santana (Tinybird) published “Recortes 2025”
Felipe Talavera (ex Flywire) published “My Week in New York: The Future of Code Arrived Early”