The EIF and BBVA Spark boost the growth of tech companies with €110 million thanks to Next Generation EU

BBVA Spark will mobilise €110 million thanks to the signing of a new guarantee agreement with the Autonomous Resilience Fund (FRA), financed by Next Generation EU and the EIF’s own resources. This guarantee adds to the €200 million agreement already signed in 2023 with the EIF, which has facilitated the financing, growth, and expansion of innovative companies in Spain.

The signing of this new guarantee agreement strengthens the ongoing collaboration between BBVA and the European Investment Fund (EIF), the venture capital arm of the European Investment Bank Group (EIB Group), which has been expanding in recent years. This new agreement will support Spanish companies investing in innovation and digitalisation through a guarantee of up to €110 million.

“This guarantee allows us to continue backing tech entrepreneurship as a key driver of the economy, contributing €110 million to the ecosystem. With the EIF’s support, we reaffirm our commitment to companies that are creating innovative solutions for a more sustainable future,” said Miguel Ángel Alcalá, Head of BBVA Spark in Spain, during the signing ceremony held in Madrid. Also participating was Marco Marrone, EIF’s Chief Investment Officer, who highlighted that such agreements “are a clear example of public-private collaboration that will enhance the competitiveness of Spain’s business fabric.”

“With these agreements, we will be able to fully deploy the fourth instrument of the Autonomous Resilience Fund (FRA), which complements the direct co-financing instrument, the urban development and sustainable tourism tool, and the alternative financing mechanism for sustainable development. We continue to provide companies with financing through a comprehensive approach, using instruments tailored to each company’s needs,” stated Inés Carpio, Director General of International Financing at the Spanish Treasury.

The guarantee agreement is backed by the Autonomous Resilience Fund (FRA), financed through Next Generation EU and EIF’s own resources. More specifically, it is supported by the Guarantee Programme of the State Compartment under InvestEU’s FRA, managed by the EIF. Under this programme, guarantee agreements have already been signed with various financial institutions to mobilise €2.5 billion in new financing for Spanish SMEs aiming to invest in innovation, sustainability, and competitiveness. This financing will benefit SMEs and mid-caps across Spain’s 17 Autonomous Communities as well as the autonomous cities of Ceuta and Melilla.

Real-life examples of impact

This guarantee builds on the €200 million agreement already signed with the EIF in 2023, which has facilitated the financing, growth, and international expansion of companies such as Exoticca, Cafler, and Casafari, among others:

• Exoticca is a fast-growing Spanish startup specialising in the digitalisation of long-haul travel. Thanks to the agreement signed with BBVA Spark in early 2025 — in addition to the one reached in 2024 — Exoticca is boosting its investment in technology and improving its platform through artificial intelligence and machine learning.
• Cafler is a vehicle services marketplace that enables users to book any car-related service with just one click. With the support of BBVA Spark, Cafler is accelerating its international expansion and aiming to become a global platform.
• Casafari is one of the largest real estate software platforms in Europe. Through financing provided by BBVA Spark with EIF backing, Casafari is consolidating and strengthening its presence in the European market.

“We’re very proud to have the backing of the BBVA Spark and EIF teams as our financial partners. Their support not only enables us to accelerate our growth toward becoming the leading international automotive platform but also highlights the financial strength Cafler has achieved in a very short time,” said Ricard Guillem, founder of Cafler.