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May 18, 2023

Exploring the World of Spanish Unicorns and Soonicorns

Learn about the trailblazing startups making waves in fintech, e-commerce, and beyond

Spain's thriving tourism industry has had a noteworthy impact on the country's tech ecosystem, with cities like Barcelona and Madrid emerging as popular destinations for foreign talent seeking a favorable work-life balance. As a result, the country has demonstrated a remarkable ability to attract skilled professionals from across the globe. This article highlights the visions, potential, and industries-disruptive character of the top Spanish unicorns and Spanish soonicorns.

Spanish startup ecosystem overview

Spain's impressive performance in the global startup scene continues to attract attention, as the country ranks 16th globally and 6th in Europe for total investment raised in 2022. The steady increase in pre-seed and seed funding is due, in part, to the prevalence of early-stage venture capital. Since 2018, at least $300 million has been raised annually, and in the past two years, pre-seed and seed activity has reached almost $500 million per year.

Spain's startup ecosystem is positioned among the frontrunners in Europe, vying with neighboring startup ecosystems like Italy and Portugal. The Spanish government's commitment to supporting startup culture is also evident. In 2022, the country introduced the Startup Law, which includes measures to help international startups settle into Spanish life, such as visas for digital nomads and tax benefits. This supportive environment has helped solidify Madrid and Barcelona as Spain's most established startup hubs. Madrid's proximity to political power has been a key factor in its success, while Barcelona's "Silicon Valley Districte de la innovació" is home to a growing number of tech companies.

The Spanish startup scene is one to watch as the country's funding opportunities, government support, and thriving hubs like Madrid and Barcelona continue attracting skilled professionals worldwide. The Startup Law is a clear indication of Spain's dedication to fostering innovation and entrepreneurship, and with the ongoing growth of the pre-seed and seed funding market, the future looks bright for the Spanish startup ecosystem.

Infographic > Spanish Unicorns and Soonicorns

Spanish unicorns

In the world of startups, the term "unicorn" has become ubiquitous, attracting numerous investors. A unicorn startup is one that has achieved a valuation of one billion dollars or more through venture capital. This status is typically reserved for startups with unique business models that enable rapid scalability. Dive into the pool of Spanish unicorns and the objectives behind them through this section.

Barcelona-based Glovo was founded in 2015 by Gerard Olive, Miguel Vicente, Oscar Pierre, and Sacha Michaud. The company connects customers with independent local couriers who purchase goods from a variety of outlets, including restaurants, grocers, supermarkets, pharmacies, and high-street retail stores. Glovo also offers an urgent package delivery service for a variable fee. The company's reach extends to over 1,500 cities across 25 countries in Southern Europe and EEMEA.

Since its inception, Glovo has experienced impressive growth, with triple- or high-double-digit rates each year. This success has necessitated rapid scaling of the company's workforce. Despite facing some regulatory challenges in certain markets, Glovo remains a major player in the on-demand delivery space, largely thanks to its innovative business model and commitment to meeting the needs of its customers.

Juan de Antonio Rubio founded Cabify in 2011 as a multi-mobility platform designed to connect private users and companies with the right means of transport for their needs. The company's ride-hailing service is facilitated through a mobile app that matches the demand for trips with the supply of for-hire automobiles. Cabify's app allows users to communicate with their drivers and receive information on waiting times, routes, and costs, making it an efficient and user-friendly transportation option.

Cabify's commitment to talent and the local ecosystem sets it apart from other ride-hailing platforms. The company generates high-value jobs and declares 100% of its activity in each country. Additionally, Cabify is a member of the UN Global Compact and was the first carbon-neutral platform in its sector in 2018. Since then, it has been globally offsetting its emissions and those of its passengers and has committed to an annual reduction target. These initiatives demonstrate Cabify's dedication to sustainability and its role as a socially responsible player in the transportation sector.

Cabify > Spanish unicorns

Founded in 2011 by Pedro Castillo, Devo is a cloud-native logging and security analytics platform that offers unparalleled capabilities for collecting and analyzing data. The company is backed by a consortium of top-tier investors, including Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, Kibo Ventures, and Eurazeo. Based in Cambridge, Massachusetts, Devo has a global presence with operations in North America, Europe, and Asia-Pacific.

Devo's platform is designed to help organizations unlock the full potential of their data, providing unrivaled scale for collecting data, speed for quick access to insights, and clarity to focus on the most important signals. With its advanced capabilities for data analytics, Devo is uniquely positioned to help organizations protect themselves against security threats and make confident, data-driven decisions. Devo is poised for continued success and growth as a leader in its industry, helping organizations worldwide unleash the power of their data and privacy.

Jobandtalent, founded in 2009 by Juan Urdiales, Felipe Navio, and Tabi Vicuña, is a world-leading marketplace for temporary jobs that leverages technology and data to match job seekers with employers directly through its app. The company is revolutionizing the temporary work sector by removing barriers to job searching and hiring and offering essential workers access to back-to-back job opportunities that provide them with the stability and perks of full-time employment. Jobandtalent's commitment to simplicity and fairness has seen the company place over 200,000 workers in more than 2,000 companies across a range of industries, including logistics and retail, in 2021 alone.

With operations in 11 countries across Europe, the United States, and Latin America, Jobandtalent has raised over 850 million USD in funding from investors such as Atomico, Kinnevik, and Softbank. The company's success is largely due to its innovative approach to job matching and its commitment to providing workers with a sense of value and respect in their roles. As Jobandtalent continues to expand its reach and offer more job opportunities to essential workers worldwide, it is poised to remain a major player in the temporary work sector for years to come.

Jobandtalent > Spanish unicorns

Founded in 2000 by Andrés de la Morena, Bernardo Hernandez, Fernando Encinar, and Jesús Encinar, Idealista is a leading online real estate platform that connects individuals seeking to buy, sell, or rent properties in Spain, Portugal, and Italy. The platform provides buyers and sellers with valuable information to guide them in their transactions, helping millions of people overcome the challenges of finding a new home. Idealista's success in Spain has made it the market leader in the country's real estate industry, with four offices in Madrid, Barcelona, and Malaga.

After nearly two decades of operation, Idealista was acquired by Apax in 2015, leading to significant growth in the company's revenue and the launch of a smartphone app. In 2020, Apax sold its stake in Idealista to EQT for a staggering €1.3 billion. The sale marked a major milestone for Idealista, which had tripled its revenue since its acquisition by Apax. As the platform continues to expand its reach and offer valuable resources to buyers and sellers alike, it is poised to remain a major player in the real estate industry across Spain and beyond.

Flywire is a global payments and software company that enables complex payments for its clients and their customers through its proprietary payments network and next-generation payments platform. Flywire integrates with leading ERP systems like NetSuite to streamline the payment experience for customers while reducing operational challenges. The company specializes in vertical-specific software for the education, healthcare, and travel industries and key B2B sectors.

With a presence in 240+ countries and territories worldwide, Flywire supports over 3,100 clients and offers diverse payment methods in 140 currencies. The company's global offices are headquartered in Boston, MA, USA. Flywire's innovative technology and commitment to simplifying the payment experience for businesses and their customers have made it a trusted and essential partner for clients around the world.

Flywire > Spanish unicorns

Wallbox is a Barcelona-based global technology company that aims to revolutionize the way people use energy. The company develops advanced electric vehicle charging and energy management systems that enable users to have greater control over their energy consumption, reduce costs, and live more sustainably. With a presence in over 115 countries, Wallbox offers a comprehensive range of charging and energy management solutions for residential, semi-public, and public use.

Founded in 2015 by Eduard Castañeda Mañé and Enric Asunción, Wallbox has quickly grown to become a major player in the electric vehicle charging and energy management space. The company now employs around 1,200 people across its offices in Europe, Asia, and the Americas. Wallbox's commitment to innovation and sustainability has made it a trusted partner for businesses and consumers worldwide, as it continues to lead the way in redefining the relationship between people and the grid.

Barcelona-based eDreams is the largest online travel agency in Southern Europe, offering a wide range of travel-related services such as flights, hotels, car rentals, train tickets, vacation packages, and online marketing and advertising. With websites available in multiple languages, including English, French, Spanish, Italian, Portuguese, and German, eDreams has served over six million clients since its founding in March 1999.

Founded by James Hare and Javier Perez-Tenessa, eDreams has quickly become a major player in the online travel industry. Its comprehensive range of services and commitment to customer satisfaction has made it a top choice for travelers across Southern Europe and beyond. As eDreams continues to expand its reach and offer new and innovative services to its clients, it is poised to remain a leader in the online travel industry for years to come.

eDreams > Spanish unicorns

Barcelona-based TravelPerk is disrupting the business travel industry with its next-generation travel platform that provides travelers the freedom they want and companies with the control they need. With the world's largest travel inventory and cutting-edge technology, TravelPerk's all-in-one platform offers powerful management features, 24/7 customer support, and consumer-grade design. As a result, companies and organizations worldwide, including Skyscanner, Wise, Revolut, Monzo, Farfetch, and the US rugby association, are able to optimize their travel experiences and save time, money, and hassle.

Founded in 2015 by Avi Meir, Javier Suarez, and Ron Levin, TravelPerk has attracted world-class investors like General Catalyst, Kinnevik AB, DST Global, and Spark Capital, among others. These investors have backed some of the most disruptive companies in tech, such as Airbnb, Slack, Twitter, and Farfetch. With TravelPerk's end-to-end solution, the company is reinventing business travel and empowering companies to maximize their travel experiences. As TravelPerk continues to expand and innovate in the industry, it is well-positioned to revolutionize how businesses approach travel.

Spanish soonicorns

In the world of startups, there's a term gaining popularity - "soon-to-be-unicorns" or soonicorns. These emerging companies, often fueled by funding from angel investors and financial speculators, are on the fast track to reaching a valuation of $1 billion. Their projected worth often surpasses their current value, with market forecasts and industry valuations playing a significant role in determining their potential. It's not uncommon for larger organizations to acquire these startups, further boosting their perceived value. With valuations reaching the $500 million mark, these soonicorns are poised to impact the business landscape significantly.

With a founding team consisting of Suraj Shirvankar, Xavier Rosales, Fernando Benito Galobart, and Victor Obrados, Paack has emerged as a leading provider of last-mile e-commerce delivery solutions. Since its establishment in 2015, the company has been empowering businesses to offer their customers flexible delivery options, including scheduled, on-demand, next-day, and same-day deliveries. Paack's services cater not only to retailers and e-stores but also to cold chain companies specializing in transporting perishable goods. Among its notable clients are Joone, MANGO, and Decathlon, with an impressive clientele that continues to grow.

Paack operates in over 100 cities across Europe, including Spain, the UK, France, Portugal, and Italy. More than 240 highly skilled professionals work for the company in areas such as logistics, transportation, and technology. With their expertise, Paack has positioned itself as a reliable provider capable of delivering several million orders monthly. The company proudly serves 150 international customers, including 17 out of the 20 largest e-commerce retailers in Spain. Renowned brands such as Amazon, Apple, Inditex, AliExpress, Nike, and Nespresso trust Paack to handle their delivery needs efficiently and effectively, solidifying the company's reputation in the industry.

Paack > Spanish soonicorns

Typeform, a cloud-based platform founded in 2012 by David Okuniev and Robert Munoz in Barcelona, has been revolutionizing the way surveys and forms are created and responded to. Offering thoughtfully-designed tools, Typeform enables users to engage with their audience and transform digital interactions into meaningful human connections. Users can easily create forms with various features such as short or long texts, drop-down menus, multiple choices, ratings, polar questions, and more through its subscription-based pricing model. The platform also provides comprehensive data analysis capabilities to derive insights from the collected responses.

Typeform's impact extends beyond its core functionality. With seamless integration capabilities, the platform collaborates with numerous essential business tools, including HubSpot, Calendly, Slack, and others. This integration allows users to leverage the power of Typeform in conjunction with their existing tech stack, streamlining workflows and enhancing productivity. Serving as a no-code SaaS platform, Typeform has successfully facilitated over 500 million digital interactions annually, cementing its position as a leading provider in the industry. Typeform empowers businesses to build meaningful connections with their audience while driving growth and success, from forms and quizzes to surveys and asynchronous video solutions.

Barcelona-based Wallapop has emerged as a prominent app-based marketplace and classified platform for individuals looking to buy and sell used items. Founded in 2013 by Agustin Gomez, Gerard Olive, and Miguel Vicente, Wallapop offers users the convenience of discovering items available for sale in their local neighborhood, ensuring proximity and ease of access. The platform's extensive product range spans from bicycles and mobile phones to clothing and furniture, catering to diverse consumer needs.

In response to the challenges posed by the COVID-19 lockdown restrictions in 2020, Wallapop introduced a groundbreaking home collection service called Envios. Collaborating with logistics company SEUR, this service enabled users to sell their second-hand products without stepping foot outside their homes. Despite the temporary pause in operations during the lockdown, the platform witnessed an impressive 50 percent surge in activity. This surge, coupled with the introduction of Envios, contributed to Wallapop's revenue growth of over 50 percent throughout 2020, cementing its position as a thriving player in the market. With mobile applications available for Android and iOS devices, Wallapop continues redefining how individuals buy and sell used goods. With the app, users can shop and buy from everywhere, anytime.

Wallapop > Spanish unicorns

Scytl, a Barcelona-based company founded by Carles Rovira in 2001, specializes in providing comprehensive election management and governance solutions. With a range of offerings that cover all aspects of the electoral process, Scytl's solutions are designed to ensure seamless and efficient management from start to finish. Their pre-election solutions encompass vital tasks such as planning, voter registration, election logistics, and financing, setting the groundwork for a well-organized electoral process. On election day, Scytl provides various offerings, including voter management, remote voting, and online voting, empowering voters with convenient and secure options. Post-election, the company facilitates results consolidation, election night reporting, and audit procedures to ensure transparency and accuracy.

In addition to their election-focused solutions, Scytl offers governance solutions and professional services to assist organizations in their administrative processes further. Their extensive range of supported election types includes political elections, referendums, university elections, parliamentary elections, assembly elections, union elections, and even shareholder voting. With a global reach, Scytl boasts clients across 40 countries, including notable organizations such as the Election Commission of Bangladesh, the State of Alaska in the United States, the Electoral Commission of Queensland, the Ministry of Education in France, and various entities involved in the U.S. electoral process. With their expertise and widespread adoption, Scytl remains at the forefront of election management and governance solutions worldwide.

Factorial, a Barcelona-based company founded in 2016 by Jordi Romero, Pau Ramon, and Bernat Farrero, has been making waves with its innovative HRMS solution tailored for small and medium enterprises (SMEs). By offering a comprehensive range of features, Factorial aims to streamline HRIS processes for organizations. These features include document management, leave management, compensation and benefits management, all conveniently accessible through the platform. Operating on a subscription-based pricing model, Factorial ensures that SMEs can leverage their HR solutions without excessive financial burden.

Factorial's impact extends beyond mere HR administration. The platform's automation capabilities effectively centralize and simplify administrative tasks, allowing organizations to gain valuable insights and operate more efficiently. Over the years, Factorial has expanded its offerings to include HR analytics, document management, performance appraisals, goal-tracking, and company culture solutions, among others. Catering to a global clientele, the company now serves over 7,000 growing businesses across 65+ countries, solidifying its position as a leading provider of HR solutions for SMEs. With Factorial's user-friendly and comprehensive tools at their disposal, organizations can optimize their HR processes, streamline operations, and drive success in the ever-evolving business landscape.

Factorial > Spanish unicorns

Clarity AI, founded by Rebeca Minguela in Madrid in 2017, is making significant strides in sustainability with its AI-based ESG software platform. The platform specifically caters to commercial real estate (CRE) investors, empowering them to effectively decarbonize their assets. Clarity, AI's suite of tools, equips investors with comprehensive market research and analytics, enabling them to make informed decisions aligned with their sustainability goals. The platform provides a range of indicators and alerts based on environmental, social, and governance (ESG) factors, ensuring that investors have a holistic understanding of their investments' sustainability performance.

At its core, Clarity AI is a sustainability technology platform that harnesses the power of machine learning and big data to deliver valuable environmental and social insights. The platform's capabilities extend beyond investment decisions, encompassing end-to-end sustainability analysis for various stakeholders. Whether it's investment analysis, corporate research, benchmarking, consumer e-commerce, or regulatory reporting, Clarity AI's technology is essential. As of January 2023, the platform boasts impressive coverage, analyzing over 70,000 companies, 360,000 funds, 198 countries, and 199 local governments. This extensive data coverage positions Clarity AI as a leading player in the market, providing up to 13 times more data than other industry competitors.

Spotahome, a Madrid-based company founded in 2014 by Alejandro Artacho, Bryan Mceire, and Hugo Monteiro, has emerged as a leading online marketplace for residential rental properties. Their innovative platform provides property owners a convenient avenue to list their properties, complete with essential details such as location, price, and amenities. Users can easily search for and book properties that meet their preferences and requirements, thanks to Spotahome's user-friendly interface and engaging user experience. The platform goes beyond traditional listings by offering features like video tours of the properties, ensuring that users get a comprehensive view of the space before deciding. Catering to the needs of modern renters, Spotahome provides a seamless experience through its mobile app, available for Android and iOS devices.

Spotahome is a rental site specializing in mid to long-term accommodations. With a vast inventory of personally-checked rooms, apartments, and student dorms, the platform ensures that users can access a wide range of options. What distinguishes Spotahome is its commitment to transparency and convenience. Through their virtual viewings, users can explore properties using photos, HD video tours, and floor plans. This comprehensive approach allows individuals to secure accommodations online for periods exceeding a month. Spotahome currently offers services in Italy, Spain, France, Belgium, the U.K., Ireland, Germany, Austria, and the United Arab Emirates. With Spotahome, finding a rental property becomes streamlined and efficient, empowering individuals to easily discover their ideal living space.

Spotahome > Spanish unicorns

Yaba, a Barcelona-based platform founded by Marcelo Sales in 2020, has swiftly positioned itself as a major player in the acquisition of Amazon brands. With a unique business model, Yaba offers a comprehensive solution that encompasses the purchasing, financing, and growth support of businesses operating on Amazon's FBA (Fulfillment by Amazon) platform. Leveraging data-driven strategies, Yaba categorizes products based on sales history, reviews, scoring, and scalability potential, allowing them to make informed acquisition decisions.

Not only does Yaba facilitate the acquisition process, but the startup also plays a vital role in managing the acquired brands, aiming to accelerate their growth and enhance efficiency not only on Amazon but also on other marketplaces. By focusing on improved stock management, optimized sourcing, and increased investment in branding, marketing, and positioning, Yaba adds significant value to the acquired sellers. In its first year alone, Yaba successfully acquired 12 companies, collectively generating a turnover exceeding $20 million. Specializing in acquiring digital native brands that specialize in home, beauty, sports, baby care, and pet care products, Yaba has solidified its presence in the e-commerce landscape as a trusted partner for brand acquisition and growth.

Tiko, a Madrid-based company founded by Sina Afra in 2017, has emerged as a prominent player in the online residential property reselling market. With a mission to streamline the buying and selling process, Tiko connects property owners directly with potential buyers. The platform allows property owners to provide essential information about their properties and receive a purchase offer from the company. On the other side, property buyers can easily browse and purchase properties through the platform, making the entire transaction more accessible and efficient.

With their innovative platform, Tiko is revolutionizing the way residential properties are bought and sold, making it more convenient and efficient for property owners and buyers alike. By leveraging its innovative approach, Tiko aims to reduce the time it takes to complete property sales significantly. Traditionally, the process could take months, but Tiko's streamlined approach aims to shorten this timeline to just a matter of weeks. To achieve this, Tiko purchases properties from sellers at a nominal discount on the sale price, facilitating a quicker and smoother transaction process.

Tiko > Spanish unicorns

Lingokids, founded in 2014 by Cristobal Viedma and Marieta Viedma Ivorra, has become a prominent player in the realm of English learning for children through its innovative app-based platform. The company's primary offering, Playlearning, is a digital learning platform designed to engage kids in interactive activities that facilitate language acquisition. Through Playlearning, children have the opportunity to expand their vocabulary, explore various topics, practice the alphabet, listen to audiobooks, and sing along to catchy songs. Lingokids takes pride in its child-centered approach, placing children at the heart of the learning experience and providing them with a multitude of engaging and interactive learning opportunities.

One of the remarkable aspects of Lingokids' platform is its comprehensive curriculum, which covers not only language learning but also essential foundational knowledge such as numbers, shapes, colors, animals, and foods. To ensure accessibility, Lingokids offers mobile applications compatible with both Android and iOS devices. The platform operates on a monthly subscription-based model, providing users with unlimited access to its features. Since its launch in 2015, Lingokids has garnered significant recognition, achieving category-leading viewership on YouTube and establishing a robust portfolio of offerings. In addition to the Lingokids app, voted the Best Original Learning App of 2023 by Kidscreen, the company also operates Lingokids Studios, Lingokids Podcasts, and Lingokids Music Publishing.

Barcelona-based Red Points, established in 2011 by Josep Coll Rodriguez and David Casellas, is at the forefront of cloud-based brand protection and anti-piracy management software solutions. With a robust offering, Red Points equips businesses with the necessary tools to combat online counterfeiting, brand abuse, and digital piracy. Its software leverages advanced machine learning capabilities and image recognition technology, allowing them to identify instances of brand infringement across multiple sources, including marketplaces and social media profiles.

Red Points caters to a diverse range of industries, including fashion apparel, children's products, and design homewares, among others. Renowned brands such as Mighty Mug, DOPE, Beauty Blender, and Knockaround have placed their trust in Red Points to safeguard their intellectual property rights. With their innovative approach and commitment to client success, Red Points plays a vital role in the ongoing battle against online counterfeiting and piracy, helping businesses safeguard their intellectual property in the digital landscape.

Red Points > Spanish unicorns

Ontruck, a logistics startup founded in 2016 by Samuel Fuentes, Inigo Juantegui, Rika Christanto, Javier Escribano, Gonzalo Parejo Navajas, and Antonio Lu Lee, has disrupted the industry with its innovative online marketplace for on-demand trucking services. By leveraging advanced data algorithms, Ontruck optimizes the capacity of road shipments, ensuring maximum efficiency and cost-effectiveness. The platform employs predictive analytics to anticipate peak demand, strategically routes shipments to maximize carrier utilization, and implements dynamic pricing to maintain a balanced marketplace.

Ontruck's offerings encompass a comprehensive range of services, including road transport of palletized goods using various types of trucks, regional and urban freight distribution, and both partial and full truckload transportation. The platform's focus on optimized routing and shipment visibility ensures streamlined operations and enhanced customer satisfaction. Building on its success, Ontruck expanded its operations to France and the Netherlands in 2019, further solidifying its presence in the European market. The startup has gained recognition as a promising player in the industry and has been listed as a startup to watch out for in 2020 by EU Startups. Notable clients such as Decathlon, P&G, and Alcampo have entrusted Ontruck with their logistics needs, affirming the company's commitment to delivering efficient and reliable trucking services.

Barcelona-based Belvo, founded by Pablo Viguera and Uri Tintore in 2019, has emerged as a leading provider of open banking API solutions. The company's core offering is an aggregation API that grants access to a wide range of financial institutions. Through this API, users can retrieve account information, access details of personal and business financial products, obtain standardized transactional data from diverse accounts, and gain insights into account holder information. Additionally, Belvo's platform provides valuable features such as a snapshot of account balances and an analysis of balance evolution.

Belvo empowers businesses and individuals to leverage their financial data and create new opportunities by providing a comprehensive open banking infrastructure. As open banking continues to gain traction, Belvo stands at the forefront, enabling seamless connectivity between users and multiple financial institutions. With its commitment to empowering financial activity and fostering financial inclusion, Belvo is revolutionizing the way individuals and businesses interact with their financial information.

Belvo > Spanish unicorns

Housfy, co-founded by Carlos Blanco and Albert Bosch in 2016, has emerged as a leading online broker for residential properties. The platform provides services designed to streamline the selling process for potential sellers. Sellers have the convenience of registering online and accessing services such as home valuation, creating property listings, and publishing them across multiple online platforms. Additionally, Housfy offers legal assistance to ensure a smooth closure of the deal.

Housfy provides a comprehensive platform for managing leads, scheduling and conducting property viewings and handling offers to further support sellers. The company is dedicated to building an integrated residential services ecosystem to simplify and cost-effectively navigate the property market for users. By offering a one-stop solution for property selling, Housfy has established itself as a go-to platform for individuals looking to sell their residential properties easily and conveniently. With its innovative approach and commitment to customer satisfaction, Housfy continues reshaping Barcelona's real estate landscape and beyond.

Madrid-based Fintonic, founded by Marcos Icardo, Sergio Chalbaud, and Lupina Iturriaga in 2012, has become a go-to platform for personal financial management and personal loans. The company's app-based tool provides users with a seamless experience for tracking expenses from multiple financial accounts. By automatically organizing expenses into categories, Fintonic empowers users to gainFintonic's app is available on both iOS and Android devices, ensuring accessibility for a wide range of users. The app also offers the convenience of an automatic monthly forecast of future expenses, helping users plan their finances effectively.

One of Fintonic's standout features is FinScore, a credit score service that evaluates user information from their and loan evaluations from various lenders available on the platform. Fintonic's app is available on both iOS and Android devices, ensuring accessibility for a wide range of users. The company pairs its financial assistant app with a brokering business model, earning commissions from third-party financial products that users sign up for. This model leverages the visibility Fintonic gains when users connect their bank and credit card accounts, enabling personalized and relevant product recommendations.

Fintonic > Spanish unicorns


Spain's startup scene is gaining global recognition, ranking 16th globally and 6th in Europe for total investment raised in 2022. The surge in pre-seed and seed funding can be attributed to the availability of early-stage venture capital, resulting in annual raises of at least $300 million since 2018. The Spanish government has played a significant role in nurturing startup culture by introducing the Startup Law in 2022, which offers support to international startups through measures like digital nomad visas and tax benefits. The Spanish startup ecosystem is poised for a promising future with a supportive environment, ample funding opportunities, and thriving hubs.

Skilled professionals from around the world are drawn to Madrid and Barcelona, seeking to be part of the flourishing startup landscape. The Spanish government's support, coupled with the presence of thriving hubs and abundant funding options, positions Spain as a compelling destination for startups. As the country's startup scene continues to evolve, it is worth keeping an eye on Spain as a dynamic player within the European startup ecosystem and globally.

Neil Hodgson-Coyle
Neil Hodgson-Coyle
Content Writer at TechNews180
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