Dealflow.es #225: Nauta and K Fund have new funds. TravelPerk acquires API startup. Teltoo acquired.

Dealflow.es #225: Nauta and K Fund have new funds. TravelPerk acquires API startup. Teltoo acquired.
Jul 13, 2020 • Issue #225

Last week we announced something that we'd been working on for a few months. We've called it K Founders and it's a pre-seed investment program to write checks of up to €100k in very early stage Spanish startups. We'll do a few investments of this size through the life of K Fund II, but our main focus will continue to be on our usual €200k to €2m investments.

Why do this now? This has nothing to do with covid-19 as some people might think, and it's a program that my colleague Marc Clemente thought about a few months ago, before the pandemic. We thought it would be a good idea to offer founders the possibility of accessing pre-seed funding, in order to have sufficient resources to make the decision of leaving their full time jobs (if they, for example, are currently working at a company) and tackle the idea they have head-on.

Despite the evolution of the Spanish startup ecosystem, I still believe that one of the bigger challenges for founders who do not have a strong network is to find the first €100k (or so) that allows them to go full time on their projects. With K Founders, we're trying to help these kind of founders find the resources they need.

By no means we're trying to replace the super important activity and role business angels play in the market. In fact, our goal with this program is to actually share the dealflow that we get with them, since we're happy to co-invest and set the terms of the investments in conjunction with them.

All in all, we're just trying to help more non-founders become founders 😊

The current batch is open until September 15th. If you think you fit with what we're looking for, send us your info through the form you'll find here.

Dealflow.es is the best way to keep up with Spain’s startup ecosystem. Manually curated by Jaime Novoa.

Taxfix is on a mission to help people get their maximum tax refund effortlessly, without needing prior tax knowledge. Our user-friendly Taxfix App enables people to file their tax declaration within 22 minutes on average using a chat-like interface to guide the process.

To date, Taxfix has raised $110 million in funding from some of the world’s top investors - Index Ventures, Valar Ventures, Creandum, and Redalpine. We achieved this by putting our customers at the core of everything we do and by helping them save millions of euros every week.

The company has offices in Berlin and Madrid and is looking to add several profiles in the Spanish capital. Scroll down to find out more.

Startup funding news 💸

According to a study from Universo Crowdfunding, all varieties of crowdfunding (equity, reward, lending, etc) combinedfor €200 million raised in 2019
Madrid-based logistics startup GOI raised€17 million from Moira Capital. According to the announcement, Moira will end up owning approximately 50% of GOI
Barcelona-based biotech company DeepUII raised€3.5 million from Alta Life Sciences, Kurma Partners and Sofimac Innovation
Barcelona-based gaming startup Champion Games raised€1 million Play Ventures and Encomenda
Other financing rounds: HUBUC (fintech, €350k)
Startups looking for funding: Adtuo (adtech)

M&A activity 🎊

Canadian company Haivision acquired Teltoo, a Spanish technology company innovating in the field of peer-to-peer (P2P) and WebRTC enabled real-time video delivery. Terms of the deal were not disclosed
Barcelona-based TravelPerk boughtAlbatross, an API for virus-related travel restrictions, to expand risk management offering. Avi Meir, CEO of TravelPerk, wroteabout the deal in this Twitter thread

Investor & accelerator news 🚀

Nauta Capital announceda new €120 million fund to back early-stage European B2B startups. Nauta also disclosed its first investment out of its new fund, in UK startup NumberEight
At K Fund, we announceda new €70 million fund and the launchof K Founders, an investment program aimed at pre-seed startups with tickets of up to €100,000. We wrote about K Founders here
Telefonica investedin American and Swiss IoT startup Nozomi Networks

Startup news 💡

Sponsored
Berlin-headquartered Taxfix has raised more than $110 million to date and wants to change how consumers file their taxes. The company has an engineering and product office in Madrid and they're hiring for various positions, including Product Designer and Engineering Manager.

Mailtrack, creators of the popular email tracking for Gmail software, announcedthe launch of its email-tracking add-on on iOS. In the blog post, Mailtrack claims to have 1.5 million active users
El Referente profiled StudentFinance, a Spanish startup co-founded by Mariano Kostelec, co-founder of Uniplaces. StudentFinance helps students, companies and educational institutions implement Income Share Agreement (ISA) programs. The company has raised €1.1 million to date
In a podcast, Javier Arroyo of Smartick saysthat the company currently has 35,000 paid users (out of a total of 50,000) and that since covid-19 it has increased the number of students using its platform by 2.4X
El Español profiled Taxdown, the Madrid-based startup that helps people do their taxes and save money doing it
Fernando Summers, CEO of insurance comparison site Rastreator, talked in an interview about how the company plans to go full remote
La Vanguardia talked to Carlos Pierre, co-founder of Badi, about the company's history and current situation. Carlos says that demand has dropped by 70% as a consequence of covid-19
Hiring community Circular announced the launch of Talent Pool for VCs, a tool to help investors share potential candidates with their portfolio companies
Car ecommerce company Clicars claims to have grown its business by 62% in 2020 and to have processed €120 million in sales since being founded
CSS Tricks wrote a long profile of Madrid-based Frontity, calling it "React for Wordpress"
Jorge Gomez Sancha, co-founder of Tinybird, wrote a Twitter thread about how they do sales at the company
French proptech startup Unlatch raised €5.2 million and said one of the main objectives it has is to expand its real estate sales platform to Spain and the UK
Startup profiles: Shellock (logistics), DatMean (marketing)

Taxfix offices in Berlin and Madrid are home to a diverse team of 200+ people who come from more than 40 nations around the world. And with our most recent funding round, we’re looking to scale our team even further.

Every day we welcome new challenges that help us further our mission: to cure tax filing chaos. Why? Because billions of euros in tax refunds are unclaimed each year.

Interested in joining us as a product manager or engineering manager? Learn more about our Madrid engineering team and culture.

	Big company news 🏦 Expansion wrote about the data centre plans of Amazon, Microsoft and Google in Spain: 'Spain emerges as a cloud European hub' Virgin's Hyperloop project in Spain has been paused. The American company claims that it has not received help from CDTI in the form of public funding Interesting reads 🤓 I don't usually include links about the situation of R&D spending and research in Spain, but these two published last week are worth reading: ' La burocracia mata la investigación española contra el covid' and ' La letra pequeña del plan de I+D: una lotería para tapar agujeros a la espera de la UE' Diego Mariño wrotea blog post about product management and the 'Product Briefing' document Miguel Arias, Director of Wayra, wrote'Rethinking the corporate accelerator model' Samuel Gil (JME) wrote'The 10 commandments of fundraising' Podcasts 🎧 K Fund interviewed Juan Pablo Tejela, co-founder of Metricool. The bootstrapped company has reached $100,000 in MRR with no outside financing Itnig interviewed Sisco Sapena, co-founder of Lleida.net En.digital interviewed Aritza Loroño and José Mari del Moral, co-founders of Micolet and Colectivia Mas Que Startups (is back!) interviewed Jose Ignacio Andres, co-founder of Nailted

	Jaime Novoa


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Dealflow.es #225: Nauta and K Fund have new funds. TravelPerk acquires API startup. Teltoo acquired. Jul 13, 2020 • Issue #225

Startup funding news 💸

M&A activity 🎊

Investor & accelerator news 🚀

Startup news 💡

Big company news 🏦

Interesting reads 🤓

Podcasts 🎧

Dealflow.es #225: Nauta and K Fund have new funds. TravelPerk acquires API startup. Teltoo acquired.
Jul 13, 2020 • Issue #225

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