The start-ups fund from Santander and Inveready will be Spain’s biggest venture debt fund. It will be aimed at capital-efficient tech and high growth enterprises that have already been through at least one round of financial and can reach a certain profit in the medium term.
Financing will range from €500,000 to €5m euros for flexible funding.
Who gains from the Santander fund for start-ups?
Santander will sign collaboration agreement with key agents, associations, innovation centres, incubators and investors, gaining access to 7,000 start-ups. This includes a full suite of products and services for innovative, scalable start-ups and companies that show growth potential.
Furthermore, the bank will provide measures to support companies development, helping to bolster Spain’s innovation and entrepreneurship ecosystem.
In addition, the bank will have teams of expert managers at all Work Cafes, as well as representatives at its main hubs in Madrid, Barcelona, Malaga, Valencia, and Bilbao.
Work Cafes will be collaborative spaces where customers and non-customers can work, hold meetings, attend events, and get advice.
Ángel Rivera, CEO of Santander España, said: “We’re delighted with the launch of this proposition for startups. Entrepreneurs will have access to a range of solutions that help them not only get off the ground but also grow faster, which will undoubtedly have a positive impact on Spain’s innovation and entrepreneurship ecosystem. With initiatives like this and Santander Growth, we’re reaffirming our position as a leader in helping companies, regardless of size or stage in their life cycle, with the most complete financial and non-financial proposition in the market”.
Recently, in an effort to increase its capacity for providing merger-and-acquisition guidance and equity underwriting, Banco Santander SA hired two additional Credit Suisse investment bankers in Brazil.
According to Leonardo Cabral, head of investment banking at Santander’s Brazilian division, financial sponsors will be covered by former Credit Suisse managing director Bruno Fontana and vice president Roberto Bruno.