Holded closes a 15 million round to expand in the European market

The current context of health and economic crisis has accelerated the digitalization process for a large number of small and medium-sized enterprises. Currently, there are more than 2.8 million SMEs throughout Spain and, according to data from the Secretary of State for Digitalization and Artificial Intelligence, one million of these companies are expected to digitalize in 2021. In this changing context, Holded, the creator of software that allows managing billing data, accounting, interacting with clients, and other day-to-day aspects for small businesses, has consolidated itself as a leader in the sector and has now closed a financing round worth 15 million euros.

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The European investment fund based in France, Elaia, led the economic injection, in which some of the current partners also participated, having opted to reinvest in the startup, such as Lakestar, Nauta Capital, and Seedrocket.

Holded plans to expand its team, to strengthen the technology and business areas, and expects to consolidate its position in Spain to begin its expansion into Europe. According to the company's co-founder, Javi Fondevila, this new capital injection comes at the best time, because it will allow them to hire 70 new employees and thus double their workforce, reaching 140 employees. They also plan to open an office in Paris, to enter the European market, and aspire to gain 120,000 new users.

This emerging company, founded in 2016, offers cloud-based ERP (Enterprise Resource Planning) software that helps small businesses improve the management of their billing, accounting, project management, client interaction, and other day-to-day aspects. Its payment plans range from 10 to 100 euros, and adapt to the number of invoices issued per year.

Since its creation, the startup has raised funds of 22 million and currently more than 80,000 companies already use its software. According to Pauline Roux, partner at Elaia, "there is a great opportunity for the development of technological solutions for small businesses, and the vision of Holded's founding team brings great added value, they are convinced of its potential." Holded considers itself ready to lead the process of change in how small businesses interact with their data, as its co-founder, Javi Fondevila, assures.