Strong backing for Qida, the home care and services company for the elderly founded by Oriol Fuertes. The Sabadell-based company has just raised 18 million euros in a financing round that is considered the most important closed in the senior sector in Spain and which has been led by the Kibo Ventures fund, captained by Aquilino Peña. The management company Ship2B Ventures, specialized in investing in startups with high social and environmental impact, has also entered Qida's capital. In addition, part of the operation has been structured in the form of convertible loans into shares contributed by Creas and the Fondo Bolsa Social, entities also focused on impact investments. Finally, "strategic" individual investors have participated in the round, as explained by Qida in a statement.
"We are really proud of the entry of new investors of the caliber of Kibo Ventures and the reinforced commitment of the three main social impact funds in Spain. We believe it is a winning combination and that together, with the Qida team, we will continue to offer the best quality in our services and the best personalized attention to the senior segment in all phases of their life, from prevention to home care," highlights Oriol Fuertes, CEO of the company, who founded Qida after a ten-year career in McKinsey's healthcare projects area.
According to Fuertes, "the investment made demonstrates Qida's potential in a booming sector and in a difficult market moment." Since 2018, the company has multiplied its size by 25 and has so far served more than 7,500 people, accumulating 5 million hours of home care for people in a situation of dependency. The firm provides services in Catalonia, Madrid, the Basque Country and Navarra and its motto is that "more people live longer and with more quality of life at home."
The 18 million funding round will serve to continue geographically extending Qida's presence to "consolidate its position as a leader in Spain in the care of the senior segment at home" and prepare the company for its international expansion. The idea is that the funds will serve to improve its technology (aimed at facilitating proactive and preventive monitoring of users), strengthen care teams, and offer new products and services to provide its clients with "a holistic proposal" that improves the quality of life of users and their families.
The resources raised will also allow Qida to enter the business of public tenders for home care services, to also be a provider for the public health and social care system. "The company firmly believes in innovation in integrated care and in the need to integrate the person's experience at home with the health and social system to be able to act more proactively and preventively and, thus, improve the quality of life and increase the efficient use of public resources," it explains.
With offices in Madrid, Barcelona, and Lisbon, Kibo Ventures has 300 million euros in assets under management and was founded in 2012 by Aquilino Peña, Javier Torremocha, and José María Amusátegui. Its portfolio companies include World Sensing, Paack, Job and Talent, and Exoticca. In its day, it also invested in startups that have already been successfully sold, such as Captio, Bipi, PromoFarma, Trip4Real, and Vilynx. "The Qida team has a deep understanding of the needs of the senior segment and how to improve the quality of life at home through technology and reduce pressure on the health and social system. The team has an ambition for international expansion with technology as a differentiating element that we fully share," said Sonia Fernández, also a partner at Kibo Ventures.