Spain Tech Dealmaking: M&A & Funding Trends H1 2024

We are delighted to share our insights on Spain’s fintech, ecommerce & online marketplaces, logistics, and retail SaaS sectors, with an aim of bolstering transparency and communication among market participants, as well as financial and strategic investors. Our report highlights the growth potential of the sectors and presents key disruptors within them. Furthermore, the report accentuates M&A and Private Placement (PP) deal activity, as well as highlights the valuation of publicly listed entities in the sectors.

Key trends highlighted in the report include:

  • Spain’s vibrant tech startup space thrives on a supportive entrepreneurial environment, backed by favourable regulations and ample access to talent and funding
  • In line with global trends, the M&A and PP deal activity within Spain’s fintech, eCommerce & online marketplaces, logistics, and retail SaaS sectors slowed down in 2023
    • The sectors witnessed 64 M&A deals from Jan. 01, 2022, to Mar. 02, 2024, with logistics being the most vibrant space. We have observed high interest from foreign entities, notably those from the US, UK, and France, in acquiring Spanish tech. Firms. A few notable cross-border M&A deals during the period include Noatum Logistics – Abu Dhabi Ports ($680.6MM, UAE), Paycomet – Nexi ($296.6MM, Italy), Deporvillage – JD Sports ($137.8MM, UK), Clicars Spain – Aramis Group ($105.3MM, France)
    • Since 2022, there have been 123 PP deals aggregating $1.3BN+ across Spain’s fintech, eCommerce/marketplaces, logistics, and retail SaaS sectors. The fintech space was the most vibrant since 2022 with 52 deals totalling $688.6MM, followed by e-commerce/ marketplaces with $213.8MM from 31 deals

Other key themes covered in the report include:

  • Leveraging its strategic location, Spain has positioned itself as an attractive cross-border e-commerce hub, with significant demand originating from key nations such as China, the UK, and Germany
  • Social commerce is becoming increasingly prominent in Spain, as users turn to social platforms like Instagram, TikTok, and Facebook for socializing, seeking shopping inspiration, and discovering new products
  • The logistics sector in Spain offers an attractive investment opportunity driven by the nation’s strategic location. Moreover, robust growth in online retail/e-commerce is fueling the demand for last-mile delivery services
  • Intensifying competition within Spain’s logistics and fintech space indicates that these sectors are primed for consolidation