Spain-based venture builder Antai has received €20m ($23.2m) in funding from investors including insurance provider Mutua Madrileña and InnoCells, the digital innovation arm of financial services firm Banco Sabadell, Finextra has reported.
Mutua Madrileña and InnoCells each supplied €5m and the other half of the funding came from Antai’s founders and assorted family offices.
Antai partners with entrepreneurs to build startups, putting up funding as well as offering business development, financial and legal advice. Its ventures include hyperlocal e-commerce platform Wallapop, delivery services provider Glovo and recruiment platform Cornershop.
InnoCells executive director Julio Martínez said: “It is a privilege for us to be part of the shareholding structure of Antai, a venture builder which has developed some of the most recognised startups in the Spanish market.
“This investment represents Banco Sabadell moving a step closer towards a model for the launch of vastly experienced startups, and from InnoCells we can drive joint initiatives forward together.”