Barcelona Startup Quipu Plans Expansion After €340K Seed Round

Last year we got to know Quipu, the Barcelona-based company that want to cure your billing and accounting-headaches with their simple and affordable online management tools.

This week they closed their second investment round which raised 340.000 euros from a group of business angels, Loogic reported. Their new funds will be used to keep growing its expansion in Europe from their headquarters in Barcelona. In their first round of funding Quipo raised 100.000 euros.

“We are really happy with the amount of money we were able to raise. We did not expect to raise as much money as we actually did,” CEO of Quipu Roger Dobaño tells to Barcinno.

Quipu was founded two years ago and specializes on administrative agencies and professional offices. They are already serving around 1000 paying customers and 35 agencies with their expertise, and taking this last funding in account, that number will probably be higher the next we speak to them.

More money – more people

The CEO explains that even though Quipo want to grow bigger in the European market, it still want to remain in Spain.

“As long as were in Europe, it makes sense to have our HQ in Barcelona. It is a great city for start-ups and it is a great place to grow”, Dobaño says.

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One of the companies biggest challenges is to grow their monthly recurring revenue (MRR), a challenge Dobaño say they will handle with the new funding.

With the company expanding they also have to expand the Quipu family, which right now consists of 11 people in total. In the months to come, Dobaño estimates that they will need 6-7 new family members joining the team, both short- and longterm.

Looking to france

Quipu is looking to the European market for more customers. They do not have a specific strategy for the expansion yet, but France is most likely to be the next country Quipu invades.

They hope to have a series A funding round within 2017, but now expansion is the main goal the CEO explains.

“First of all, we want to create a great product that people use and think is easy to handle. This means for example more automated features and third party integrations“, Dobaño explains.

Do you want to know more about Quipu?  Better Know A Barcelona Startup: Quipu (@getquipu)