Axel Serena Investor of COREangels Barcelona Takes his Entrepreneurship Journey to Next Level
In a significant milestone, Bytetravel, a young Spanish company founded in 2021, made an impressive debut on the BME Scaleup market with a remarkable 25.40% increase in its stock price. This achievement marks Bytetravel as the first newly created technology scaleup to join this prestigious marketplace, showcasing its potential and solidifying its position as a key player in the travel tech sector.
A Grand Celebration at the Barcelona Stock Exchange
The traditional ringing of the bell at the Barcelona Stock Exchange was a momentous occasion, led by Axel Serena, CEO of Bytetravel and COREangels Barcelona Investor, alongside Carmen Sánchez, operational manager. They were joined by Jesús González, managing director of BME Scaleup, and Eduardo Ansaldo, president of the Barcelona Stock Exchange. The event celebrated not only Bytetravel's market entry but also the first anniversary of the BME Scaleup marketplace, which now boasts 11 companies and continues to attract more.
Bytetravel's Impressive Market Debut, a Technological Pioneer in Travel
Bytetravel's stock experienced a 25.40% revaluation on its first day of trading, with demand reaching 53 times the supply at certain points. Starting with a reference price of 1.26 euros per share, the company's initial valuation stands at an impressive 37.8 million euros. Specializing in the travel tech sector, Bytetravel focuses on creating ancillary services for tourists and business travelers worldwide. The company currently manages visas for over 70 countries under the European Visagov brand, with plans to expand to 150 countries in the coming years. By leveraging technology, automation, biometrics, and artificial intelligence, Bytetravel aims to streamline travel processes, saving time for customers and reducing operating costs for society.
Understanding BME Scaleup
BME Scaleup, part of Bolsas y Mercados Españoles, is a marketplace tailored for scaleups — companies with a proven business model experiencing accelerated growth. To qualify, companies must have a minimum turnover or investment of one million euros and have been growing for at least three years. The market offers transparency to investors and simplifies incorporation requirements for companies. Besides scaleups, BME Scaleup is also open to SMEs, SOCIMIs, and family businesses seeking initial capital market exposure.
The Importance of Bytetravel's Achievement
Bytetravel's successful listing on BME Scaleup is a significant achievement, reflecting its robust business model and growth potential. For Bytetravel, this milestone not only provides a boost in funds for financing but also enhances its prestige, brand visibility, and investor base. Moreover, the listing is a testament to the company's innovative approach in integrating technology to revolutionize the travel industry.
As Bytetravel continues to grow and expand its services, its presence on BME Scaleup will undoubtedly attract more investors and talent, driving further growth and cementing its status as an industry leader. This debut is not just a milestone for Bytetravel but also a significant moment for the BME Scaleup market, highlighting its role in supporting and nurturing innovative companies in their growth journey.
About COREangels Barcelona
One of the COREangels funds around the world, COREangels Barcelona's investment thesis centers around early-stage Spanish startups in the pre-seed and seed stages. They employ sector and technology diversification as a risk mitigation strategy. Their primary focus is on teams of experienced, committed, and ambitious entrepreneurs who are driving innovative projects with high scalability, proven product-market fit, and a track record of upward traction. The team at COREangels Barcelona approaches their activities with rigor, integrity, and transparency as core values. Their overarching objective is to bring investment opportunities in the most disruptive technology sectors to investors motivated by innovation, business creation, and differentiated business models. With a rigorous project pre-selection process, the partners actively participate in various phases of analysis, decision-making regarding participation in different funding rounds, and providing ongoing support for the growth of the startups they invest in.
