Business Angels Have Invested €1.2 Billion in Spanish Startups in 2018, According to New Report Investments into Spanish startups by business angels are up 44 percent over last year in terms of euros.

By Novobrief

This story originally appeared on Novobrief

You're reading Entrepreneur Europe, an international franchise of Entrepreneur Media.


Business angels' investments into Spanish startups reaches €1.217 billion as of October, 2018, according to the latest report by Startupxplore.

Related: Spanish Association of Startups 'Requests More Ambition' From Spain's Prime Minister

Investments into Spanish startups by business angels are up 44 percent over last year in terms of euros, and this year investments were dominated by 17 rounds among 16 startups (Travelperk had two major funding rounds).

Barcelona is the city with the highest percentage of investment, with 57 percent, thanks, in part, to the fact that it was the pioneering center of operations in the market, with 17 years of seniority.

investments spanish startups 2018Source: Startupxplore

The top investment rounds in 2018 were:

  1. Letgo: €430 million
  2. Cabify: €130 million
  3. Glovo: €115 million
  4. Flywire: €85.6 million
  5. Travelperk: €38 million
  6. Spotahome: €34 million
  7. Ontruck: €25 million
  8. Minoryx Therapeutics: €21.3 million
  9. LogTrust (Devo): €21.2 million
  10. Red Points: €20 million
  11. Hawkers: €20 million
  12. Universal DX: €20 million
  13. Fever: €17 million
  14. ABAC Therapeutics: €16 million
  15. 21 Buttons: €14.6 million
  16. Stratio: €13 million
  17. Travelperk: €11.8 million

Related: New Report Finds 22 Percent of Spanish Startup Founders Are Women

investments spanish startups 2018Source: Startupxplore

The volume of operations last year has been reduced by 27.1 percent, with 142 operations, however, the size of these has gone from €4.3 million in 2017 to €8.56 million this year.

The CEO and co-founder of Startupxplore, Javier Megias, highlighted this fact of the report, since "it has considerably exceeded all the investment of last year in 10 months" and that "there are fewer operations but they are larger."

The weight of the investment has fallen in four rounds of financing, which have exceeded €50 million and accounted for 62 percent of the total investment.

Megias has stated that this phenomenon, together with the increase in operations, creates "a future market in which there will be more opportunities and perhaps better valuations in the initial phases of startups."

Related: Boom or Bubble? The 3 Issues That Block Spain's Startup Sector From Sustainable Growth.

The sectors that have stood out most by percentage of number of operations in the investment in startups were

  1. Web consumers (14 percent)
  2. Health (11 percent)
  3. Mobility and logistics (8 percent)
  4. Fintech, software and ecommerce (8 percent)

In terms of the amount invested, the sectors that have received the most funding were

  1. Directories (35 percent)
  2. Travel and leisure (15 percent)
  3. Mobility and logistics (4 percent)

The Startupxplore report clarifies the number of startups potentially on the radar of investors in Spain, which reaches 3,415 companies, 4 percent more than in 2017.

Startupxplore is an investment platform that operates with first class companies, approved by the CNMV, with more than 13,000 investors and gateway to an ecosystem with 30,000 entrepreneurs, investors, startups and accelerators.

(By Tim Hinchliffe)

Novobrief is an English language news publication covering the Spanish startup ecosystem. 

Related Topics

Business Ideas

55 Small Business Ideas to Start in 2023

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2023.

Business News

This Influencer Has Nearly 150,000 Instagram Followers and Makes Over $10,000 a Month. There's Just One Catch—She's Not Real.

Aitana López has over 149,000 Instagram followers and brands love her. Is she the future of social media marketing?

Starting a Business

New Research Reveals 4 Personality Traits That Most Wealthy Entrepreneurs Share

In the book "Rich Habits," author and CPA Tom Corley shares the daily success habits of his most successful clients.

Business News

Chick-fil-A Is Getting Into Content Creation, Hiring an 'Entertainment Producer'

The popular chicken chain is launching the "PLAY entertainment app" and creating original series, podcasts, animations, and more.

Growing a Business

Serial Entrepreneur Turned VC Reveals 4 Numbers You Need to Know to Scale Your Company

If you're looking to attract investment or simply seeking to scale your business, there are four key numbers you should use as your guiding light.

Thought Leaders

3 New Ways to Develop Laser-Like Focus

To boost focus in the face of distractions, you need a new approach to success.