Banco Sabadell picks tech startup programme winners

Banco Sabadell picks tech startup programme winners

Mobile point-of-sale outfit SetPay is one of five firms to win a spot in Banco Sabadell's startup programme for technology companies.

Unveiled in November, the BStartup scheme is aimed at digital entrepreneurs focusing on areas such as financial services, e-commerce, mobile, social and security.

The 10 startups that earn a spot in the programme will each get EUR100,000, split between direct financial investment - for which Banco Sabadell secures a 10% stake - and a six month growth programme coordinated by technological entrepreneur Dídac Lee.

Among the five companies picked in the first round is Setpay, a Santiago firm that is trying to make its way in the competitive mPOS market dominated by the lies of Square, PayPal and iZettle. Last summer Sabadell partnered with Ingenico to launch its own effort.

Another successful applicant is Worldcoo, which provides a platform for financing cooperation projects that functions by integrating a EUR1 donation checkbox into online store payment gateways.

The other three startups are: Enigmedia, which has developed a security system for transmitting audio and video; Red Points, which protects intellectual property rights; and Trendipia, a platform for the sale and discovery of designer fashion.

Yolanda Pérez, manager, BStartup, says: "The difficulty involved in selecting these five companies was much greater than we initially envisaged. Both the volume of projects presented - 414 in total - and their very high quality made it very difficult to select the five that will finally receive the investment."

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