Regional News

Spain: ProntoPiso closes agreement with Media Digital Ventures for €1.3M

By Silvia Castro Betancourt 0 Comments NEWS, Regional News

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The ProntoPiso real estate platform has closed a new financing agreement for 1.3 million euros with Media Digital Ventures, to which is added a capital increase by Antai Venture Builder and Picus Capital as well as new shareholders.

ProntoPiso had already accumulated more than 3 million euros in financing prior to this new closure under the backing of Antai Venture Builder, the venture capital fund Global Founders Capital, Picus Capital and Global Growth Capital.

The company also received 400,000 euros of public funding from the Enisa entrepreneurship support institution alongside the ICF (Catalan Institute of Finance).

ProntoPiso adds more than 4.3 million euros in financing

The new capital contribution, which is based on a "media for equity" agreement, is in addition to the initial investment with which the company started last November, and raises the accumulated amount to more than 4.3 million euros.

The executive director and founder of ProntoPiso, Andrés Plá, has highlighted the importance of having media sponsors such as Vocento, Grupo Atresmedia or Grupo Zeta, among others, since "the entry into the shareholding of communication groups will allow us to help in the growth of the company and consolidate our innovative business model".

The head of operations and also creator of the company, Diego Paradinas, has stated that "the injection of capital and media exposure will allow us to massively impact our customers, consolidate the business in the two cities in which we are present, Madrid and Barcelona, ​​and even boost the expansion of other large local markets."

The "media for equity" formula allows communication groups to invest in startups where they enter the shareholding in exchange for advertising in their media, investing jointly in venture capital funds.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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