About Fuell
Fuell is a company based in Madrid (Spain) founded in 2019 by Daniel Seijo and Eduardo Ortiz De Lanzagorta was acquired by Factorial in October 2023.. Fuell has raised $3.35 million across 4 funding rounds from investors including Factorial HR, FJ Labs and Wayra. Fuell operates in a competitive market with competitors including Spendesk, Concur, Pleo, W.A.G. payment solutions and Way2Vat, among others.
- Headquarter Madrid, Spain
- Founders Daniel Seijo, Eduardo Ortiz De Lanzagorta
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Sectors
TechnologyTravel & Hospitality Financial Services
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$3.35 M (USD)
in 4 rounds
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Latest Funding Round
$1.53 M (USD), Seed
Jul 11, 2022
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Investors
Factorial HR
& 7 more
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Employee Count
Employee Count
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Acquired by
Factorial
(Oct 03, 2023)
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Funding Insights of Fuell
Fuell has successfully raised a total of $3.35M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $1.53 million completed in July 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Seed — $1.5M
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First Round
First Round
(28 May 2020)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2022 | Amount | Seed - Fuell | Valuation | Fin Capital | |
| Jan, 2022 | Amount | Seed - Fuell | Valuation | Y Combinator |
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| Jun, 2021 | Amount | Seed - Fuell | Valuation | K Fund |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Fuell
Fuell has secured backing from 8 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Factorial HR, FJ Labs and Wayra. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital firm focused on fintech and B2B SaaS companies
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Founded Year | Domain | Location | |
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Early-stage startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location | |
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Venture capital is invested in technology-based product and service companies.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Fuell
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Fuell
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Fuell Comparisons
Competitors of Fuell
Fuell operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Spendesk, Concur, Pleo, W.A.G. payment solutions and Way2Vat, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of prepaid cards for financial benefits of employees
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| domain | founded_year | HQ Location |
Corporate travel expenses and invoices are managed via SaaS platform.
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| domain | founded_year | HQ Location |
SaaS expense management solutions for business travel are provided.
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| domain | founded_year | HQ Location |
Prepaid fuel and toll payment cards are provided for fleets.
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| domain | founded_year | HQ Location |
Travel expenses for businesses are managed via an online platform.
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| domain | founded_year | HQ Location |
Cloud-based expense management is offered for corporate travelers.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Fuell
Frequently Asked Questions about Fuell
When was Fuell founded?
Fuell was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Where is Fuell located?
Fuell is headquartered in Madrid, Spain. It is registered at Madrid, Madrid, Spain.
Who is the current CEO of Fuell?
Eduardo Ortiz De Lanzagorta is the current CEO of Fuell. They have also founded this company.
Is Fuell a funded company?
Fuell is a funded company, having raised a total of $3.35M across 4 funding rounds to date. The company's 1st funding round was a Seed of $1.21M, raised on May 28, 2020.
What does Fuell do?
Fuell was founded in 2019 in Madrid, Spain, as a provider of expenses management and reimbursement solutions targeted at businesses. Operations focus on budget management, purchase oversight, and transaction handling. Additional features include signup incentives such as free subscriptions and discounts. The platform supports financial efficiency in the fintech sector across European markets.
Who are Fuell's investors?
Fuell has 8 investors. Key investors include Factorial HR, FJ Labs, Wayra, Fin Capital, and Y Combinator.