K Fund leads €1.4m round for Beonprice

The deal is the sixth deployment for the first-time-fund GP, which held a final close in July 2016 on its €50m target. The GP focuses on early-stage and venture capital investments across the Spanish market.

Following the transaction, the company intends to use the fresh capital to expand its business across the European market and open offices in the US, the UK and Germany in 2017, as well as double its headcount.

The deal is the sixth transaction for the maiden fund, which co-invested €6m in healthcare services platform Salupro in July 2016, and backed the €265,000 seed round for electricity distributor Lucera alongside Danka Capital in September 2016.

Furthermore, the firm provided two convertible notes as part of two seeds rounds: a $300,000 funding round for mobile notifications manager Hooks in November 2016, and a seed round for mobile insurance broker Coverfy in December 2016, in which the GP co-invested alongside business angels.

In February 2017, K Fund co-invested in a €1m funding round for software developer Billin alongside Kibo Ventures.

Company
Founded in 2012 and headquartered in Villamayor, Salamanca, Beonprice develops a software that allows hotels and venue managers to refine their pricing. Its flagship product uses big data to take into account several features such as location, services, facilities, room sizes, demand and competitors' prices.

The firm currently employs 35 people and already has a presence in Miami, Bogota and Mexico City.

People
K Fund – Iñaki Arrola, Carina Szpilk, Ian Noel, Pablo Ventura (co-founders).
Beonprice – Ruben Sanchez, Emilio Galan (co-founder).

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• Topics
• Expansion
• Technology
• Southern Europe
• Venture
• Spain