Why Spain is attracting increasing capital from the Nordics
Are the expansion plans from the North now changing to favour warmer parts of Europe? Is Brexit making the UK less attractive as the natural choice of second or third expansion market?
Whatever the reasons, the trend is clear, there is definitely an increased interest in the Spanish market for venture capital placements.
Investing in Spain is not just about Real Estate anymore. More and more start-ups choose to put their money into Spanish soil, as a stepping stone to South America. Three Swedish digital companies who recently have raised capital for international expansion plans, including Spain, are Kry, €20 million, TechBuddy, €2 million and StoryTel, €20 million.
Time to update the roll-out plan?
Typically for many Nordic start-ups, like the unicorn Klarna, the road to expansion success has taken them via their neighboring country Norway, followed by Germany.
After having succeeded in Germany and/or in the great UK the glimmering goal for many ambitious entrepreneurs has always been to conquer the US with it´s more than 320 million consumption craving people, all the while hearing Frank Sinatra humming “If you can make it there, you can make it anywhere (Yes, about New York but still..)
Why is more venture capital going to Spain?
The competitive landscape seems to change with the sun being stronger. While you will always find companies to fight, your biggest fears of being eaten up by huge corporations like Amazon or Alibaba can be greatly reduced over a cold cerveza strategizing over Spanish expansion.
Because although the American and Asian giants are closely watching your every latin move they are busy chewing up market share in all of the English speaking countries first. While they already have launched important services in Spain, the audiobook service Audible being one example, they don’t seem to bother to translate their apps nor check in with the local audience for tweaks and adjustments to culture and customs. Something that Swedish Storytel is surely aware of when now competing with Audible for Spanish ears.
When preparing for your Spanish roll-out you’re much better off studying Spanish start-up stars like Wallapop and Habitissimo who have made it successfully over the Atlantic with impressive traction in many South American countries as a result.
Interested in expanding to Spain?
We invite you to accept the challenge of winning the hearts of the 46.5 million Spanish consumers before following the footsteps of the great adventurer Christopher Columbus to South America, potentially reaching more than 437 million Spanish speaking people.
Provided you are willing to tailormake your product proposition to unlock the local demand, the Spanish speaking markets offer a really interesting opportunity for growth.
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