Abac leads funding round for Spanish startup Mr Noow

Additional backers in the round, which brings the total capital invested in the Spanish company to €1.1m, include Seedrocket 4Founders Capital and Bankinter Capital Riesgo.

With the fresh capital, Mr Noow intends to expand globally and reach the internationalisation of its brand by the end of 2018. In addition to this, the company will develop new features for its app and reinforce its commercial strength, increasing the number of restaurants included on its platform.

Abac Capital invested in the company with its new venture fund Abac Nest. The vehicle, recently launched, aims at investing between €50,000-100,000 per round and up to €200,000 in later-stage rounds, targeting early-stage technology companies based in Spain but focused on expanding and growing globally.

Company
Based in Barcelona, Mr Noow is a technology startup specialising in designing and developing a mobile application able to connect restaurants and customers in order to book, order dinner and pay using a mobile device. The platform, launched in July 2017, features several restaurants in Barcelona and Madrid, and has 10,000 orders per month.

People
Abac Capital – Oriol Pinya (founding partner, CEO); Borja Martínez de la Rosa, Javier Rigau (founding partners).
Mr Noow – Alejandro Fresneda (CEO, founding partner).

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• Topics
• Expansion
• Southern Europe
• Technology
• Spain
• Venture
• Start-up