Where Argentina And Spain Are Scoring Startup Goals
Argentina and Spain, though soccer powerhouses, have a smaller presence in the startup world. Crunchbase News examines recent funding trends and notable startups in both countries.
Intelligence analysis by Llama
Crunchbase News looks at the startup funding scene in Argentina and Spain, two countries with a strong soccer presence but a smaller impact in the startup world. Recent funding trends and notable startups are highlighted.
Imagine two countries that are great at soccer, but not as well-known for their startup scenes. Argentina and Spain are trying to make a name for themselves in the startup world, but they're facing tough competition from more established hubs. Can they prove themselves as underdogs and make a splash in the startup world?
Analysis
A $60B Vote of Confidence
Argentina's startup scene has been described as 'small, scrappy, and sometimes very successful.' This year, the country's startups have already pulled in a few hundred million dollars in venture funding, with fintech companies like Ualá and Pomelo leading the way. Ualá, a payments infrastructure startup, has raised $1.1 billion in known funding to date, including a $195 million March financing. Pomelo, a payments infrastructure startup, closed on a $55 million Series C round co-led by Kaszek and Insight Partners. Tapi, a provider of payments and collections infrastructure, secured $27 million in Series B funding in February. So far, 2026 is shaping up as a strong year for funding, with investment already ahead of last year's total.
Why Spain's Startup Scene Is Worth Watching
Spain, on the other hand, has been lagging behind in venture funding. However, the country's startup pipeline is not lacking in pizazz. Take this year's largest funding recipient — PLD Space — which closed a $206 million Series C in March. Its mission is to be a 'global space transportation service provider to support cargo and human spaceflight missions to the Moon and Mars.' Other standouts among the bigger rounds this year include Factorial, an AI-enabled HR and payroll platform, which scooped up $150 million in Series D funding at a $2.5 billion valuation in June. EOS-X Space, a Madrid startup focused on infrastructure for near space, space tourism and aerospace data, closed on $140 million in Series D funding in May. Xoople, a Madrid-based developer of AI tools for analyzing geospatial data, picked up $130 million in Series B funding in April. Overall funding to Spanish startups is also trending higher, with 2026 on track for a year-over-year gain.
Rooting for the Underdog
While both Spain and Argentina have a long track record of soccer success, a case could be made that both are underdogs in the startup space. It's a familiar situation for secondary hubs in the current AI-driven investment cycle. Capital has been concentrating even more heavily in Silicon Valley and other leading venture hubs. Given all the follow-on effects a successful startup can have on its region, it'd be encouraging to see investors spreading their bets more broadly across a wider geography. Spain and Argentina have already proven they have what it takes to prevail in one very competitive arena. Given the capital and opportunity, there's no reason to doubt their abilities in the venture-backed startup game either.
Key points
- Argentina's startup scene is small but scrappy, with fintech companies like Ualá and Pomelo leading the way.
- Spain's startup pipeline is not lacking in pizazz, with companies like PLD Space and Factorial making waves.
- Both countries have a long track record of soccer success, but are underdogs in the startup space.
- Investors are concentrating more heavily in Silicon Valley and other leading venture hubs, making it harder for secondary hubs to compete.
If Argentina and Spain can attract more investment and talent, they may be able to create a thriving startup ecosystem that rivals more established hubs. This could lead to more opportunities for entrepreneurs and investors, and help to spread the benefits of innovation and entrepreneurship more widely.
However, the startup ecosystems in Argentina and Spain are still relatively underdeveloped, and may struggle to compete with more established hubs. This could lead to a lack of opportunities for entrepreneurs and investors, and make it harder for these countries to benefit from innovation and entrepreneurship.
