StartupsNov 3, 2026, 5:06 PM UTC·2 min read

Spanish Startups Raise €654.65M in October, a Record for the Month

Spanish startups raised €654.65M across 28 deals in October 2026, the best October on record, though ID Finance's €545M financing accounts for most of it.

Bar chart showing record October 2026 startup investment in Spain, dominated by one large fintech deal in Barcelona. — Image: El Referente

Spanish startups raised €654.65 million across 28 deals in October 2026, the highest October volume since records began. The figure is 40.9% below September, which set an all-time monthly high of €1,107.03 million, but it keeps the ecosystem at an exceptionally high level of funding. The average ticket was €23.38 million.

The year-on-year comparison is stark. October's total is almost five times the €134.52 million of October 2025 and well over triple the €207.58 million of 2024 and €168.70 million of 2023. Deal count, however, has not kept pace: 28 rounds beat the 23 of 2025 but remain below the previous four years.

One deal drives the month

The reason is ID Finance, which closed €545 million, or 83.3% of the monthly total. The package combines a €45 million capital increase with €500 million of structured, asset-backed debt, aimed mainly at growing its consumer credit business, including its Plazo platform. Without it, October would have totalled €109.65 million across 27 deals.

Fintech took 83.6% of the month (€547.52 million in four deals). Ehealth followed with €40 million, the European Investment Bank loan to Impress, then SaaS with €26.2 million, led by quantum computing firm Qilimanjaro Quantum Tech (€19.6 million). Biotech raised €13.74 million, and AI €4.91 million in three deals.

Geographically, Catalonia captured €628.91 million in 15 deals, 96.1% of the total. Even excluding ID Finance it would lead with €83.91 million in 14 deals. The Valencian Community (€8.79 million) and Madrid (€8.1 million) followed far behind.

A polarised year

Through ten months, 2026 has seen €4,680.75 million raised in 273 deals, already above the totals for 2025 and 2021. Large rounds in June, July, September and October, from companies such as Open Cosmos, PLD Space, Fever, Multiverse Computing and ID Finance, have inflated the figures, while most startups still raise small and mid-sized tickets. Alternative financing and public bodies such as the EIB, ICF, CDTI and EIC Fund also play a growing role.

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Tags:spanish startupsventure fundingid financefintechimpresscatalonia