BBVA reinforces its startup banking in the face of growing competition and will offer discounts on professional services

BBVA will take advantage of its presence at Four Years For Now (4YFN), the parallel event to the Mobile World Congress aimed at startups, to present the new services of Spark, its banking aimed at this sector in which the company leads, but has to face increasing competition from its rivals.

Thus, the company has decided to reinforce this division, which has 1,000 clients and nearly 300 million euros in bank financing, with a new marketplace with discounts on products such as the cloud, human resources or legal services.

Among the Spanish bank's first partners in this new area are SAP, Google and Microsoft, which will make their specialized startup programs available to the bank's clients.

The company experienced an intense end to 2023 with several important debt rounds with Twinco Capital and Mundimoto and in 2024 it provided financing to the cryptocurrency company Bit2Me and Cabify. In parallel, Spark is present in four countries and is expected to continue its international expansion by replicating BBVA's footprint in all the territories in which it operates.

Beyond the discounts, the company has closed an alliance with Capchase, a fintech also specialized in financial services for technology companies and startups.

Thanks to the agreement, Spark will be able to perform faster digital analysis of its clients through the integration of fintech, which will speed up the bank's decision-making and allow it to offer more personalized financing.

After carrying out a pilot with fifty BBVA Spark clients, this product aimed at companies with recurring income business models such as SaaS or subscriptions, among others, is now validated and available to clients in Spain through their online banking. points out the company.