The independent financial consultancy Upbizor raised more than 100 million euros last year to finance startups and SMEs, a figure that represented a 33% increase compared to 2022. In this regard, the company increased its turnover by 25% last year, on a total that the company does not specify. The entity, founded in Barcelona in 2017, expects to continue growing in 2024, when it estimates it will raise 40% more financing, up to 140 million euros.
Part of this increase will come from the subsidiary that the company opened last year in London. With this opening in the City, Upbizor has carried out the first venture debt loan operations, through which it has obtained more than 40 million euros in capital.
Last year, the consultancy invested in companies such as Habitacion.com and the fintech Kintai. In addition, it consolidated its first investments in venture capital vehicles, such as Aticco Ventures and Pinama Inversiones, and foresees three new investment operations in venture capital funds in 2024. Currently, its client portfolio includes companies such as Factorial, the educational Innovamat and the proptech Ukio, among many others.
More than 120 companies turned to this financial specialist in startups and SMEs to prepare capital increases in 2023Upbizor registered 1,350 applications last year, above the 1,000 in 2022. Of the total, 260 were loans from the public financing company Enisa, with which it reached 28 million aimed at emerging companies and small and medium-sized enterprises. The figure represents about 25% of the public entity's total budget, and more than 90% of the applications submitted were successfully resolved.
The consultancy, furthermore, generated 25 million in tax incentives in the past fiscal year for R&D&i. Upbizor has also consolidated its external financial management product, through which it currently has a portfolio of more than 150 companies that transfer the management of their operational finances to the consultancy. In this vein, Upbizor has worked in 2023 to automate processes so that administrative and accounting tasks automatically feed into companies' business plans, which also have access to the services of Upbizor's new tax and accounting management division.
On the other hand, more than 120 companies resorted to this financial firm specialized in startups and SMEs to prepare capital increases. In this regard, the consultancy has promoted the preparation of financing rounds with products such as the definition of the business plan, company valuation, and legal aspects. In parallel, it has expanded its range of products related to bank financing lines, working capital, fintech platforms, and venture debt loans. All of this with the aim of "boosting business growth from financial expertise" according to Upbizor's founder and CEO, Jordi Altimira.