Regate Targets Spanish Market Chooses Barcelona As Tech Hub
Founded in 2020, Regate, a financial automation platform for SMEs and consultancies, recently announced its expansion into Barcelona. This strategic move comes after a significant €2 million investment. Currently boasting 10,000 clients and 150 employees in France, the firm aims to replicate its success in Spain by targeting 1,000 clients and increasing its local team to 40 by 2024.
Country Manager Sanziana Gheorghiu underscores the similarity between Spanish and French regulatory environments as a key factor in choosing Spain for expansion. Regate’s services streamline various financial processes for SMEs, including supplier and customer invoicing, bank reconciliation, and treasury management. The firm’s goal is to save time for financial teams, enabling better collaboration and efficiency in financial and accounting tasks.
The company also addresses the imminent shift to electronic invoicing across Europe, a change mandated by Spain’s upcoming ‘Crea y Crece’ law, which will require all businesses to adopt electronic invoicing by 2025. Gheorghiu notes the slower digital adoption in Spain compared to other countries but acknowledges the accelerated shift towards digital solutions, particularly in the financial and accounting sectors, due to the COVID-19 pandemic.
In addition to its Spanish launch, Regate is preparing to target the German market next year, following a successful €20 million funding round led by Valar Ventures and 360 Capital. The decision to open a branch in Barcelona was influenced by the city’s thriving startup ecosystem and the fintech sector’s resilience during economic downturns. The move reflects Regate’s broader vision to drive digital transformation across the fintech landscape in Spain, Germany, and beyond.
