Small business software startup Holded raises $1.6 million

Barcelona-based Holded, a developer of management software for SMBs, has raised $1.6 million in funding led by Nauta Capital.

The startup develops ERP software for small businesses to manage tasks like accounts, CRM, and project management in one source. It currently has 10,000 users. The new funds will be invested in further product development and marketing ahead of plans for internationalising.

The segment for small business software does not have a clear market leader globally, said co-CEO Bernat Ripoll. “With our experience and the new funding, we will speed up our product development and expand to new markets faster,” he added.

“During the first year we expected to work on the product and understand the market but the commercial traction has been exceptional, with more than 50% of our clients coming from referrals - users are our biggest fans. This shows that Holded adds real value to small businesses and that the market needs us,” said Javi Fondevila, co-CEO.