Freepik Acquired By EQT and Tradeinn Exceeds €100 Million in Sales in Just 5 Months

Freepik has been acquired, while Tradeinn exceeds €100 million in sales in just 5 months! Let’s go over the top stories happening in the startup universe this month.

Malaga-based Freepik, bank of images and visual resources on the internet, has been acquired by EQT. The Swedish fund has bought the majority stake in a transaction in which it has been valued at more than €200 million.

Girona-based Tradeinn, specialized in clothing and equipment for practicing different sports, has exceeded one hundred million euros in sales in the first five months of the year. The company thus maintains its objective for 2020 despite the coronavirus and plans to close the year with 250 million euros of turnover. In 2019, the company billed 188 million euros.

Itnig News

After three long months, we finally reopened the Itnig Coffice and coworking doors! 

🎧. Bernat Farrero on En.Digital Podcast
📺. MasterClass de Bernat Farrero – BMF Business School

📺 Qonto, the French neobank, has raised more than $150M and has been in the Spanish Market for a year now. To celebrate their first anniversary in Spain, we interviewed Country Manager Carles Marcos i Guàrdia to know more about the startup’s journey and future initiatives. 

Startup Inside Stories Podcast

This month, we had very interesting guests and topics on Itnig’s weekly podcast.

  • Episode 142: Bloobirds with Javier Darriba

Barcelona-based Bloobirds closed a €3M funding round and Bernat Farrero and Jordi Romero have a chat with Javier Darriba, CEO and cofounder. Javier explains how the platform works, and how it is to close a funding round in the midst of a pandemic. We talked about Salesforce, Hubspot, Zendesk, and UserZoom, a project also co-founded by Javier, which has raised more than $36M. “We can win battles in Europe, but the war is won in the US,” speaking of UserZoom. He explains his exit from the project and how the present and future of Bloobirds looks like. 

  • Episode 143: B2B Sales with Javier Llorden

Can a sales team sell anything? Bernat Farrero and Jordi Romero invite Javier Llorden to ask him everything about B2B sales. Javier is an expert with a career dedicated to sales and, above all, he is an expert in managing and knowing how to scale a sales team.

  • Episode 144: Tiko, How to Scale an Instant Buyer with Ana Villanueva 

We’re living interesting times for the real estate industry and so we invited Ana Villanueva, CEO and co-founder of Tiko, an iBuyer that buys houses making the whole process faster than the traditional real estate agency. Ana explains how it works, where the business is, how it has raised more than $51 million, and how debt financing works. With COVID19 and digitalization, we also talk about the future of real estate. 

  • Episode 145: Same Day Delivery with Kubbo

We invited Victor García and Eric Fernandez, the founders of Kubbo, one of the startups in which we have invested through the Itnig Fund. Eric and Victor came to our “Pitch to Investors” event and we decided to invest in their vision. Kubbo is a distributed logistics company, that offers small businesses the opportunity to provide same-day delivery to their customers. 

  • Episode 146: Polaroo with Marc Rovira

We invited Marc Rovira, CEO and cofounder of Polaroo, a new marketplace to contract, manage and pay for home services. Polaroo aims to change the way we deal with our utility services, making it easier. Marc also opens up about his experience as an entrepreneur with investors and why you shouldn’t give up until you’ve visited at least 200 to get funding. We also talk about marketplaces and how Polaroo raised their last funding round. 

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June Startup News & Updates

Other than Freepik or Tradeinn bringing good news for the Spanish startup ecosystem, there are a lot of other things happening:

Despite suffering a 75% drop in revenues around mid-March, Uber’s competitor Bolt has raised 100 million euros from Naya Capital, reaching a valuation of €1.7 billion. The new funding will go to its main business and newer services like scooters and food delivery.

Mark Zuckerberg expects more than 50% of Facebook’s 48,000 employees to work remotely within 10 years. He also added that those who choose to move to other places in the United States or elsewhere will receive a payment based on where they live. Still, questions about whether it’s fair to pay employees based on their location are sure to grow as more outfits adopt remote-work policies.

It’s been a topic of interest whether this pandemic crisis will be the birth of the next unicorns. Pascal Cagni, former EMEA head of Apple, runs C4 Ventures, which has launched a second fund at €80 million.  With a 5 unicorn track record, the VC firm is looking for the next Covid unicorns. Speaking of which, according to a survey by Station F, 94% of startups are going to survive the next six months, good news isn’t it?

May has reactivated investment in startups with 70.89 million euros invested in a total of 23 public operations (Spain). The month reached the second-highest figure of the year after the month of February with €137M of investment and places the accumulated investment for 2020 above 300 million euros.

2019 was a year with a list of unicorns finally going public. SlackLyft, and Uber all made their public debuts. Airbnb was supposed to go on the list this year but, with COVID-19, the tech IPO market basically stopped. Now that things have started moving again, Crunchbase shared a new list of few venture-backed companies that have gone public. 

EuropeanStartups.co is the data platform curating all European startup data in one place with the aim of facilitating informed conversation and collaboration across the continent’s different ecosystems. Read about how Europe can dominate the next decade of tech

In other news, in an effort to limit the entry of immigrants into the country, Donald Trump decided to suspend new work visas and barred hundreds of thousands of foreigners from seeking employment in the US. European startup founders, investors and chief executives had a simple message to all those affected: come to Europe instead. Seedtable provided this amazing list of 40+ European visas for tech founders and employees including a path to citizenship for every country.

On a more positive note, it’s been a unicorn week🦄 Ireland earned its second unicorn with performance management platform Workhuman reaching a $1.2 billion valuation. Meanwhile, British used-car startup Cazoo also reaches unicorn status at a $1bn+ valuation and an extra $31M funding

New Funding for Startups

Random Tech News


June was a good month! Freepik being acquired, while Tradeinn exceeds €100 million in sales in just 5 months are great news for the ecosystem.

At Itnig, we write a weekly newsletter where we keep our community updated on everything related to startups, tech news, fundings, and we share our weekly podcast!
Subscribe and keep up with the startup universe, or feel free to come back for more startup news of the month here!

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