Crowdcube is the second most active investor in Spain, according to data released by the Bankinter Innovation Foundation and its newly created Startup Observatory. In 2019, Crowdcube funded more Spanish startups than any other venture capital, public investor or equity crowdfunding platform in the country, behind only Banco Sabadell through his seed investment and venture arms.
2019 was another record-breaking year for Crowdcube in Spain, raising over €18m in 20 raises for Spanish businesses. The Observatory focuses on new raises completed for startups only, so investment made through Crowdcube into later-stage businesses and in pre-emption rounds is not included on its data centre.
“The fact that Crowdcube is now the second most active investor in Spain is proof that things are quickly changing in the Spanish investment sphere. An increasing number of companies see the value behind transforming customers into shareholders – no marketing campaign is as powerful as that when it comes to visibility and customer engagement,” said Azahara G. Espejo, Head of Business Development of Crowdcube in Spain.
In 2019, for the first time, the average raise for Spanish companies surpassed the €1m threshold. With over €5m raised, ID Finance completed the biggest raise of the year for a Spanish business, establishing a new equity crowdfunding record in Spain by amount raised. Other businesses passing the €1m target included shoe brand Muroexe (€2.8m), challenger bank Bnext (€2.7m) and biotechnology company Life Length (€2.5m).
Sitting in the top 10 of all time fintech raises on Crowdcube, ID Finance is an example of the investors’ appetite for fintech in Spain and beyond. The Bankinter Innovation Foundation Startup Observatory also offers industry-specific insights, with fintech being the industry that pooled the highest number of deals in Spain in 2019.
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