The largest sale of a digital startup in the history of Spain

Habemus has become Spain’s most valuable digital startup. British investment fund Cinven has bought 70% of Idealista for a valuation of 2.9 billion euros, thus becoming the most valuable digital startup in Spain. largest operation in history in the technology sector of our country.

It was in 2020 when Jesús Encinar, founder of the real estate portal, sold 55% of the company to the Swedish fund EQT for a company valuation of 1,325 million euros. Now, four years later and with the real estate boom present, the British fund has bought 70% of the shares of Idealista for a total company value of 2.9 billion euros.

EQT has decided to reinvest and will retain 18% of the shares. For the time being, Jesús Encinar has announced that he will continue to lead the company. Meanwhile, investors Apax and Oakley, who held 17% and 11% of Idealista, have left the shareholding.

The valuation of 2.9 billion euros means more than doubling the previous valuation when EQT decided to invest in Idealista. Also surpasses Glovo’s operation with Delivery Herowhich until now was the largest operation with a valuation of 2.3 billion euros.

In addition to Glovo, the operation surpasses other Spanish unicorns such as Jobandtalent, eDreams, the IPO of Wallbox or recent valuations such as those of Factorial or Wallapop.

The sale of Idealista is subject to approval by the regulatory bodies of Spain (the National Commission for Markets and Competition), Italy and Portugal, countries where Idealista has operations.

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