BBVA Spark’s 2024: 1,500 customers, €500 million in committed credit and a new team in London
Throughout 2024, BBVA Spark has closed several financing agreements, created a new team in London to provide support in Europe and strengthened its presence in the entrepreneurial and investment ecosystem with the launch of key meetings for the ecosystem such as BBVA Spark Summit 2024, as well as through its participation in events such as LAVCA Week, South Summit and Colombia Tech Week.
In 2024, BBVA Spark has consolidated its position as an important player in boosting the entrepreneurial and investment ecosystem. In a global context where entrepreneurship has shown signs of recovery thanks to the proliferation of Series A rounds and growth in sectors such as generative artificial intelligence and cleantech, the bank of the entrepreneurial ecosystem has been the protagonist of several milestones.
Over the last twelve months, BBVA Spark has signed several financing agreements with fast-growing technology companies. In addition, it has created a new team in London to provide support in Europe following its rapid expansion in Latin America—where it is already present in Mexico, Colombia and Argentina—, its participation in major events in the entrepreneurial ecosystem, and the celebration of its annual event, BBVA Spark Summit 2024. A road full of milestones that enabled it to close the year with more than 1,500 customers and €500 million committed in financing.
New team in London
As part of BBVA Spark Summit 2024, where the bank brought together more than 400 key figures from the entrepreneurial ecosystem, including investment funds, founders and other industry leaders, BBVA Spark announced the creation of a new team in London, the main hub for entrepreneurship and venture capital investment in Europe.
This new team, which includes Donatella Callegaris, Head of Venture & Growth Lending, and Lejla Hodzic, Global Head of Risk, will strengthen BBVA Spark’s international footprint to support companies in their growth , finance their expansion and provide them with access to the wide range of financial products and services available through BBVA Spark.
This move comes against a backdrop of stabilisation in equity funding in high-growth companies on the Old Continent, after reaching its peak in 2021 when it reached €111 billion. By 2024, venture capital investment is expected to reach €45 billion, according to Atomico’s ‘State of Europe Tech 2024‘ report.
Added to this context is the consolidation of the European market compared to other regions, having registered a smaller contraction in investment than other geographies. A reality that demonstrates its high degree of resilience to position itself as a unique enclave in the generation of entrepreneurship and investment.
From Mexico to Spain to Portugal: the financing deals that back high-growth companies
After signing important financing agreements with Mundimoto, Payflow and Creze in 2023, in the last 12 months BBVA Spark has ratified its position as a key ally for the growth of these types of companies. Some of the most important agreements have been:
- Cabify. The Spanish mobility company born in 2018 and considered the first Spanish unicorn, closed a €15 million venture debt financing deal, with the aim of supporting the company in moving towards a more accessible and sustainable mobility. Following this support, BBVA Spark and Cabify signed a pioneering agreement in the VTC sector to use the Express Payments service developed by the bank.
- BIA Energy. The Colombian startup, which specialises in digital energy trading, announced a $10 million backing line with BBVA Spark. This agreement aims to strengthen its technological infrastructure and establish itself as a solid player in the energy industry in Latin America.
- Exoticca. The Spanish traveltech, a leader in the digitization of big-ticket travel, reached a €4 million debt financing agreement with BBVA Spark to boost its expansion in Latin America.
- Fairplay. The Mexican startup, a leading platform for working capital solutions for small and medium-sized enterprises (SMEs), obtained a line of credit worth 655 million pesos in funding from BBVA Spark, equivalent to $35 million. This financing will enable the company to expand its presence in new industries and enhance its working capital solution for SMEs.
- Insurama. The insurtech specialising in technology and physical assets coverage for homes, families and businesses, sealed a €5.5 million financing agreement with BBVA Spark to strengthen and boost the company’s capabilities and services through new products and the integration of new digital technologies.
- Bravo. The Mexican fintech firm closed a €25 million financing deal. Through this support, the startup, which specialises in financial advice and debt management, will be able to boost its growth, as well as the development of its credit division.
- Casafari. The real estate software platform closed a €5 million venture debt agreement with BBVA Spark to consolidate and strengthen its presence in the European market.
- Cafler. The marketplace for vehicle management services reached a €3 million financing agreement with BBVA Spark. This financing will allow the company to accelerate its growth after having almost tripled its turnover over the previous year.
BBVA Spark, a meeting point to drive business growth
In addition to this support for the entrepreneurial ecosystem, BBVA Spark has promoted its presence at key events in the entrepreneurial and investment ecosystem and has remained a meeting point for these and other relevant players.
Throughout 2024, BBVA Spark has participated in events such as South Summit 2024 in Madrid, 4YFN in Barcelona, LAVCA Week in New York, FINNOSUMMIT 2024 in Mexico City and Colombia Tech Week in Bogotá, as well as other events such as Slush in Helsinki and Valencia Digital Summit.
As well as being present at these key events for the entrepreneurial ecosystem, BBVA Spark continues to generate meeting spaces for relevant players. For the second consecutive year in Barcelona, BBVA Spark held a new edition of BBVA Spark Summit 2024, which brought together CEOs, founders of tech companies and investors to discuss the challenges and opportunities the entrepreneurial ecosystem is facing. It also held several breakfasts with CFOs to explore this essential role in high-impact technology companies.
The bank continues to be a point of reference through the Spark Spaces in Mexico and the meetings organised in the BBVA Tower in Colombia and Buenos Aires. “BBVA and its tower in Argentina are recognised as the centre where entrepreneurs meet to discuss important issues,” said Daniel Gatti, head of BBVA Spark in Argentina, on the occasion of the bank’s first anniversary in the country.
2024 has been a year of significant achievements for BBVA Spark. Its impact in Spain, Latin America and Europe highlights its role as a key ally of the entrepreneurial ecosystem and its position as a growth lever for all those businesses that open up new opportunities through cutting-edge technologies such as generative AI or APIs.
