Internxt closes a funding round of over 3 million euros


Spanish technology startup Internxt, offering a safer alternative to current tech giants, has announced the successful closure of a previously announced funding round valued at over 3 million euros. Its 2023 has been marked by growth, as the company has managed to solidify its position in the market and raise its pre-money valuation to 36 million euros.

In a challenging 2023 environment, where many startups struggled to survive and raise capital, Internxt demonstrates that financially sound and growth-oriented companies can still secure funding at competitive valuations.

The investment comes from a variety of prominent funds, including Juan Roig (Angels Capital), Telefónica, Extension Fund, Kevlar Fund, Balaji Srinivasan (a16z, Coinbase), Crowdcube, Banco Santander, Notion Capital, among others. This new funding not only reflects investors’ continued confidence in Internxt’s potential but also strengthens the company’s financial position for future expansion and development. As Fran Villalba Segarra, founder and CEO of Internxt, explains, “The closure of this round solidifies the company’s position to face 2024 with much more strength.”

A notable strategic move is Internxt’s decision to repurchase 6% of the company held by The Venture City, one of its initial investors. This step showcases Internxt’s strong performance and its ability to generate a high return for investors, something uncommon in the Spanish startup ecosystem. With a gross margin of 80%, Internxt is positioned favorably to reinvest in its growth and continue leading the privacy market. “This is already the second operation in the company’s brief history in which liquidity is provided to partners either with own funds or from other partners with the aim of improving their position within the company. The average return to date is around 300%,” Villalba asserts.

Internxt anticipates billing over 4 million euros in 2024

Internxt has gone from billing 400,000 euros in 2021 to exceeding 3 million in 2023. The company solidifies its position as a leader in the privacy-as-a-service market, successfully competing against giants like Proton, Nord, and Brave. With an 80% gross margin, Internxt aims to close the 2024 fiscal year with over 4 million euros in revenue. In addition to increasing revenue, the company plans to expand its product suite and strengthen its team, which already consists of over 30 members. The repurchase of shares from The Venture City is just one example of the robust, growth-focused strategy that has made Internxt a reference in the sector. Fran Villalba Segarra, the founder and CEO of the tech company, still holds 75% of the startup’s shares. Internxt is a leading company in the privacy market (Privacy as a Service), offering innovative solutions in an increasingly privacy-conscious digital environment. With significant growth and a long-term vision, Internxt continues to set trends in the sector.

Internxt: “The Spanish Google offering a safer and more responsible Internet”

Internxt, the technology company based in Spain, is positioning itself as the new “Spanish Google,” but with a safer and more responsible approach to digital privacy. With a firm guarantee that user privacy will not be violated on the Internet, Internxt has become a secure alternative to current tech giants.

The company stands out by offering a unique guarantee in the industry: the certainty that user privacy is protected online. Through its subscription plans, users pay for access to a complete suite of products, including Internxt Drive, Photos, and Send, directly competing with services like Google Drive, Microsoft OneDrive, Google Photos, and WeTransfer. Each plan has a GB limit, allowing users to customize their experience according to their needs.

Internxt’s vision is dedicated to creating a digital world centered on user respect. In contrast to current Internet giants, often data and advertising giants, Internxt focuses on providing services that are an end in themselves, not just a means to other ends. The company is committed to ensuring that user data on the Internet is not hacked or sold to third parties.

Furthermore, Internxt’s suite of services stands out for its focus on privacy and security. Using client-side encryption (zero-knowledge encryption) and file fragmentation and distribution techniques, Internxt ensures the highest level of privacy and security for user files. The award-winning Spanish startup is currently in a unique position to lead the way toward a safer and more responsible Internet. The company will continue to innovate, expand its product suite, and enhance the user experience, with the vision of offering a reliable and ethical alternative in the digital world.