Diversification: the key to building a portfolio

According to the Business Angels 2026 report by AEBAN and IESE, between 50% and 70% of early-stage startup investments do not generate returns. The key, therefore, is not to get every bet right, but to build a portfolio that is broad and diverse enough to capture as much value as possible.

At Encomenda, we have long been applying exactly this principle. We do not only invest in technology; we invest in technology applied across very different sectors. Multisector diversification is not a consequence of our strategy—it is its core.

These are eight of our portfolio companies that demonstrate this:

Cuimo

An online platform for the sale of reconditioned motorcycles that digitises a traditionally local and opaque market. It buys motorcycles directly, inspects and refurbishes them, and delivers them to the buyer’s home within 72 hours with a professional warranty. In Q1 2026 it has already surpassed 1,500 units sold and is growing at 2.1x compared to the same period last year.

Ezpays

A B2B platform that fully automates payment collection through open banking, from invoicing to debt recovery, eliminating the need for collections departments. Its technology reduces late payments by 30% and improves cash flow by 25%.

Ecostars

A B2B ESG SaaS platform for the hotel sector, recognised by the World Tourism Organization and aligned with international GSTC standards. It is already the number one ESG certification in Western Europe, with more than 2,500 hotels certified across over 40 countries. RIU Hotels & Resorts recently certified 100% of its operating hotels with Ecostars, becoming the first hotel chain in the world to achieve this.

Abastores

The first online platform specialised in the B2B grain market, connecting farmers, storage operators, and manufacturers directly with real-time pricing, removing intermediaries. With more than 6,000 registered farmers and €30 million in transactions facilitated, it has won the Rural Innovative Entrepreneurship Award and the Rural Startup Award.

Rebel Tickets

The only Spain-founded ticket resale platform that offers a safe and transparent alternative to irregular secondary ticket markets. Its technology automatically verifies ticket validity and transfers ownership, eliminating fraud and inflated prices. Its most recent agreement is with the Cooltural Festival, worth €70,000.

Tu Trámite Fácil

A platform that automates the detection, management, and processing of public grants for individuals and families in Spain. It reduces processing time to under 2 minutes per user, with a 74.59% success rate. Recognised among the 50 most innovative startups in Spain in the Emprendedores 2025 list.

Bcount

An all-in-one platform for accounting, tax, and payroll automation for SMEs, micro-enterprises, and freelancers. It acts as the fiscal operating system of the business: connecting to banking, categorising transactions, issuing invoices adapted to Verifactu, and managing payroll from a single environment. In its first year, it quadrupled its growth.

CarHub

A B2C marketplace that allows individuals to buy used cars across Europe and receive them in Spain already inspected, imported, registered, and ready to drive, at 15% below local market prices. In its first year, it has reached more than 60 customers, generating over €180,000 in total savings.

What these eight companies have in common is not the sector, but the conviction that real problems exist across very different markets. From motorcycle trading to public grant management, from ticket resale to hotel sustainability, each one represents what we look for at Encomenda: models with real traction, teams with deep sector expertise, and scalable potential.

And it is precisely this diversity that strengthens the portfolio. We do not bet on a single vertical or a single trend; we build a portfolio where the success of one company does not depend on the success of the others.