Catalonia concentrates 45% of BBVA Spark's business in Spain

Catalonia has established itself as one of the main markets for BBVA Spark, the BBVA unit specialized in technology and high-growth companies. With more than 270 clients, it concentrates 45% of the division's business in Spain and 43% of the companies it works with throughout the State. Its weight is also reflected in financial activity: one in four operations corresponds to Catalan companies, which represent 20% of the national volume of these operations.

The data was released during the BBVA Spark Summit held in Barcelona, where Peio Belausteguigoitia, country manager of BBVA in Spain, held a meeting with representatives of four prominent companies from the Catalan entrepreneurial ecosystem: Alejandro Martí, CEO and co-founder of Mitiga; Xavier Sans, CEO of Frekuent; Axel Serena, CEO of Bytetravel, and Sergi Fabregat, CFO of Innovamat, with the participation also of Santiago Muguruza, head of BBVA Spark; Miguel Ángel Alcalá, head of BBVA Spark Europe, and Sonya Iovieno, head of Venture & Growth Lending at BBVA Spark in Europe. Belausteguigoitia highlighted that these figures demonstrate the importance of Catalonia in the activity of BBVA Spark and the territory's capacity to generate innovative companies with international projection.

Financing to grow

Access to financing remains one of the main challenges for technology companies, especially when they face growth or internationalization processes. Developing new products, expanding teams, or entering other markets requires resources and, often, these needs arise before companies have achieved profitability.

For this reason, entrepreneurs value having financial institutions that understand the sector's particularities. "They have not only understood the entrepreneurial world, but they are part of the ecosystem, and this commitment is important for our sector," highlighted Alejandro Martí, from Mitiga. Along the same lines, Axel Serena, from Bytetravel, emphasized specialization and personalized attention: "It is very good that a bank has a specialized section to address our needs and that you also have personal treatment." Xavier Sans, from Frekuent, also valued the relationship with BBVA Spark positively, describing it as a "very good experience," and highlighted the entity's role in the growth and expansion of companies like his.

This is precisely the area in which BBVA Spark has been working since its creation in 2022. The unit offers financial services adapted to the different development stages of innovative companies, from daily banking needs to more complex financing operations to boost their expansion.

Currently, it works with nearly 2,000 clients, of which about 500 have financing, with a total volume of 1.5 billion euros committed. Its activity also extends to venture capital funds, to which it offers capital call financing lines, which allow them to have liquidity to speed up investments.

Among the Catalan companies that have received financing from BBVA Spark are Paack, Exoticca, and Payflow, which have used these resources to develop their growth and expansion plans.

Barcelona, meeting point of the entrepreneurial ecosystem

The BBVA Spark Summit has brought together more than 300 entrepreneurs, investors, and representatives of the European technology sector in Barcelona this year. An event that has also counted on the participation of more than 70 national and international venture capital funds, which jointly manage 55 billion euros.

The investors came from countries such as the United States, France, Italy, Germany, the United Kingdom, Portugal, and Spain, a participation that highlights the international interest in the opportunities offered by the technological ecosystem.

Financing, internationalization, and the consolidation of business models were the focus of much of the conversation. The role of innovation as a growth engine and the need for startups to have resources and advice to face the different stages of development were also addressed.

In this context, Belausteguigoitia highlighted "BBVA Spark's commitment to technology and high-growth companies, which it accompanies in the different stages of development with financial solutions adapted to their needs and business models".

Catalonia, a strategic market

Beyond the business volume, Catalan clients represent nearly 14% of BBVA Spark's global portfolio. This presence responds to the weight of an ecosystem that combines startups, expanding technology companies, and projects with the capacity to compete in international markets.

To serve this business fabric, BBVA has a team of specialized professionals in Barcelona, from where it offers advice and financial solutions adapted to the needs of each company. The connection with the sector also translates into participation in events such as 4 Years From Now (4YFN), the startup meeting held within the framework of the Mobile World Congress.

With four years of activity, BBVA Spark has expanded its presence in the technology sector and has placed Catalonia among its main markets. The figures also show the growing need for specialized financing for companies that must combine innovation, investment, and international expansion to consolidate their growth.