Banco Sabadell has provided more than 280 million euros in funding to startups

Banco Sabadell has provided to date more than 280 million euros in funding to new startup companies. The Bank has been supporting this type of emerging companies for more than six years, which has brought the number of startups that are customers of the institution to more than 3,200. In addition, through its investment vehicles BStartup 10, Sabadell Venture Capital and InnoCells, the Institution now has 75 direct investees.

Banco Sabadell’s commitment to the entrepreneurial ecosystem has been strengthened even further this year with the presence of BStartup (its business division aimed at entrepreneurs) as one of the main partners of Tech Spirit Barcelona. Tech Spirit Barcelona has been held in the Catalan capital from 24 to 27 February and is a spontaneous initiative, led by Barcelona Tech City, that emerged from the city’s tech community after the cancellation of the Mobile World Congress and of 4 Years From Now (4YFN) due to the coronavirus emergency. In these sessions, entrepreneurs and investors have come together to carry out a series of activities where they can share their visions for the future and their most inspiring plans.

Yolanda Pérez, BStartup Director, highlighted the success of the initiative: “At Banco Sabadell, we are very proud of supporting the development of Tech Spirit Barcelona. The city once again has shown its resilience and its entrepreneurial spirit. All public and private agents have joined forces to organise in record time a spectacular event that has welcomed all out-of-town entrepreneurs and investors who did not want to miss their appointment with the city this year of impasse until the long-awaited MWC and 4YFN of 2021.”

The senior executive participated in various Tech Spirit Barcelona initiatives: she moderated the “Unicorns from Barcelona” panel, in which Mauricio Prieto, co-founder of eDreams-Odigeo, and Oscar Pierre, CEO of Glovo, shared their experiences in these two high-level tech companies which are a reference in entrepreneurship driven from Barcelona. In addition, she participated in the presentation of the first LegalTech Hub Global in Europe, which has been recently created in the Catalan capital.

Beyond Barcelona and Madrid

On the first day of Tech Spirit Barcelona, José Carol, BStartup Operational Director, participated in the investor panel of The Others BCN 2020. The objective of this event was to present to national and international funds the various startups of the ecosystems beyond the Barcelona and Madrid circuit, such as those from Valencia, the Basque Country, Galicia and Andalusia. The event was held with a full house in the La Nau hall in Barcelona.

In total, these ecosystems have more than 1,100 startups, representing 20.47% of the total in Spain. They also comprise 22.34% of the business angels and venture capitalists operating in Spain and are home to some of the most important accelerators and incubators in the country.

InnoCells, driver of Fintech Spirit Barcelona

InnoCells, Banco Sabadell’s hub for new digital businesses and corporate venture arm, has promoted the launch of Fintech Spirit Barcelona in collaboration with Borsa de Barcelona (BME Group), TradEAsy and other sector companies. It is a spin-off of Tech Spirit Barcelona for companies in the fintech sector (technologies for the financial sector).

InnoCells specialists have organised the pitch sessions, sponsored a networking session at the Barcelona Stock Exchange and promoted three quality panels on various topics: equity crowdfunding, the relationship of fintech companies with banks and the influence of technology on investment markets. Several companies which have received funds from Banco Sabadell such as Instant Credit, Nomo, Nemuru or PayComet have participated in these initiatives.

Julio Martínez, InnoCells Executive Director, has valued the experience as extremely positive: “It has been a privilege to organise an event with such a warm welcome as Fintech Spirit Barcelona, with the help of different key players in the city. We have gathered the best fintech initiatives at country level to add value to the space and environment which drive the sector.”