The Spanish home care startup for the elderly Cuideo has raised up to €5 million in its Series B financing round. Atresmedia has participated in the transaction as a new investor that, together with Inderhabs Investments and Mundi Ventures, current shareholders of the company, have trusted in Cuideo’s growth potential and in its ambition to change a traditional sector that is in the midst of a digital revolution. Across Legal has advised Cuideo in the transaction.
With this new investment, Cuideo will consolidate its position in Spain as a benchmark company in home care for the elderly, increase its territorial presence and invest in brand, team and business processes. It will also develop new lines of business for B2C and B2B in the country, and accelerate its growth in France, where it entered at the end of 2020.
“This capital injection is the result of the unstoppable evolution of the company in recent years, a fact that will allow us to reach strategic agreements with companies in the insurance sector, in addition to consolidating the direct service area with our own employees. Our goal at Cuideo is to lead the transformation of the sector globally and to continue investing in technology to be able to offer a fast and quality service to all our customers,” says Roberto Valdés, co-founder and CEO of Cuideo.
TRUST OF LARGE CORPORATIONS
It is increasingly common for large companies to ally themselves with startups to take advantage of the group’s internal resources and strengthen their commitment to innovation. In this regard, Atresmedia is one of the firms that invests in companies with high growth potential, and this is demonstrated by its recent participation in the capital of Cuideo.
“We are very pleased with the investment in Cuideo, which is a very important step in our strategy to deepen our focus on opportunities related to the Silver Economy. Cuideo has an exceptional team and a clear leadership position that we hope to help consolidate in order to take advantage of the immense opportunities that exist in the sector,” said Javier Nuche, CEO of Atresmedia Diversificación.
CROWDFUNDING ROUND
Crowdfunding, as a source of crowdfunding, has become an increasingly interesting option as an alternative to Venture Capital rounds, specifically for those that are aimed at the end consumer and those with a strong social component, as is the case of Cuideo. “Cuideo is one of the emerging companies with the greatest potential in Spain, and investors have seen it very clearly: it has been one of the largest rounds at Capital Cell, and also one of the fastest closing,” says Daniel Oliver, director of Capital Cell.
The technology startup, founded in 2016 by Adrià Buzón and brothers Roberto and Alejandro Valdés, is committed to digitizing the elderly home care sector thanks to its own matching system between professionals and families. To date, they have already provided services to more than 40,000 families and have more than 1,900 reviews on Google with the highest possible score. In addition, since its inception and after this new capital raising, Cuideo has raised a total of 8.2 million euros in financing advised by the law firm Across Legal, which will allow the brand to continue improving and digitizing the sector, as well as to continue growing in Spain and France.
“For us it is a great satisfaction to have reached this point because to scale a business like Cuideo it is necessary to invest in creating a consolidated brand that brings trust, and in a good technological base to be able to quickly scale the operational part of the business. Cuideo has been putting all its efforts into these aspects in recent years and, for this reason, the project is succeeding so well,” notes Adrià Buzón, co-founder and CEO of Cuideo. Source: El Referente
