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Country comparison

Spain vs Finland: startup funding compared

Since 2 June 2025, startups in Spain raised $2.2B across 145 rounds, about as much as Finland's $2.1B.

SpainvsFinland
$2.2BCapital raised$2.1B
145Rounds64
$3.5MMedian round$4.5M
0.3%Share of all capital0.3%
57%Early-stage rounds69%

Capital raised running total by month

$2.2B$1.1B Spain, end of Jun 25: $568MSpain, end of Jul: $656MSpain, end of Aug: $690MSpain, end of Sept: $788MSpain, end of Oct: $874MSpain, end of Nov: $944MSpain, end of Dec: $1.1BSpain, end of Jan 26: $1.2BSpain, end of Feb: $1.2BSpain, end of Mar: $1.5BSpain, end of Apr: $1.7BSpain, end of May: $1.7BSpain, end of Jun: $2BSpain, end of Aug: $2BSpain, end of Sept: $2.1BSpain, end of Oct: $2.2BSpain, end of Nov: $2.2BFinland, end of Jun 25: $58.2MFinland, end of Jul: $89.8MFinland, end of Aug: $92.7MFinland, end of Sept: $477MFinland, end of Oct: $1.4BFinland, end of Nov: $1.5BFinland, end of Dec: $1.7BFinland, end of Jan 26: $1.7BFinland, end of Feb: $1.7BFinland, end of Mar: $1.8BFinland, end of Apr: $1.8BFinland, end of May: $1.9BFinland, end of Jun: $1.9BFinland, end of Aug: $1.9BFinland, end of Sept: $2.1BFinland, end of Oct: $2.1BFinland, end of Nov: $2.1B Jun 25SeptDecMarJunOct
SpainFinland
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Where the money goes share of capital by sector

Spain

  • AI34%$745M
  • Health18%$391M
  • Robotics & Hardware16%$339M
  • Enterprise software15%$324M
  • Fintech5%$99.5M
  • Other5%$98.5M

Finland

  • Health43%$914M
  • Robotics & Hardware23%$496M
  • AI21%$449M
  • Other4%$78M
  • Climate & Energy3%$55.6M
  • Cybersecurity3%$54.5M

Biggest rounds

Spain

  1. Multiverse Computing $219M 1
  2. PLD Space $209M 2
  3. Factorial $150M 3

Finland

  1. Oura $900M 1
  2. IQM Quantum Computers $300M 2
  3. Verda $189M 3

Stage mix share of rounds

SpainFinland
46%Pre-Seed and Seed56%
12%Series A13%
5%Series B5%
1%Series C and later3%
37%Other or undisclosed23%

Most active investors rounds joined

InvestorSpainFinland
Lifeline Ventures·14
CDTI9·
Kfund8·
Antler25
Tesi·7
Inveready6·
JME Ventures6·
Kibo Ventures6·
4Founders Capital5·
Adara Ventures5·
Bonsai Partners5·
Clave Capital5·

Startup hubs rounds and capital by city

Spain

  • Barcelona60$1B
  • Madrid35$461M
  • San Sebastián1$219M
  • Derio1$67M
  • Valencia10$59.9M
  • Paterna1$17.7M

Finland

  • Oulu2$902M
  • Helsinki33$561M
  • Espoo9$559M
  • Tampere2$18.7M
  • Kouvola1$11.7M
  • Kuopio1$2.9M

Latest rounds

Questions

Which country raised more startup funding, Spain or Finland?

Spain. Since 2 June 2025, startups in Spain raised $2.2B across 145 rounds, against $2.1B across 64 rounds in Finland. That is 0.3% and 0.3% of all the capital FundraiseBase tracked worldwide over the period.

How many startup funding rounds were announced in Spain and Finland?

145 rounds in Spain and 64 rounds in Finland since 2 June 2025, about 9 and 4 a month.

Are startup rounds bigger in Spain or Finland?

The median round is $3.5M in Spain and $4.5M in Finland, and the average round $14.9M and $33.5M. The median shows the typical round; the average is pulled up by a few very large ones.

What is the biggest startup round in Spain?

The biggest startup rounds in Spain since 2 June 2025 are Multiverse Computing ($219M, Series B, 12 Jun 2025), PLD Space ($209M, 5 Mar 2026) and Factorial ($150M, Series D, 3 Jun 2026).

What is the biggest startup round in Finland?

The biggest startup rounds in Finland since 2 June 2025 are Oura ($900M, Series E, 14 Oct 2025), IQM Quantum Computers ($300M, Series B, 3 Sept 2025) and Verda ($189M, Series B, 22 Sept 2026).

Which sectors attract the most startup funding in Spain and Finland?

In Spain, AI ($745M, 34% of the capital), Health ($391M, 18%) and Robotics & Hardware ($339M, 16%) lead. In Finland, Health ($914M, 43% of the capital), Robotics & Hardware ($496M, 23%) and AI ($449M, 21%) lead.

Is Spain or Finland better for early-stage startups?

Early-stage rounds (Pre-Seed, Seed and Series A) make up 57% of rounds in Spain and 69% in Finland. Spain recorded 66 Pre-Seed or Seed rounds and Finland 36 Pre-Seed or Seed rounds, with a median of $2.3M and $3.1M.

How much growth funding (Series B and later) goes to Spain and Finland?

Startups in Spain raised $783M in 8 Series B or later rounds, 36% of the country's capital. In Finland, $1.6B in 5 rounds, 74% of the capital.

Who are the most active startup investors in Spain?

CDTI (9 rounds), Kfund (8 rounds, 3 led) and Kibo Ventures (6 rounds, 3 led) are the most active investors in Spain.

Who are the most active startup investors in Finland?

Lifeline Ventures (14 rounds, 9 led), Tesi (7 rounds, 1 led) and Antler (5 rounds, 2 led) are the most active investors in Finland.

Which investors back startups in both Spain and Finland?

7 investors joined rounds in both countries. The most active: Antler (2 in Spain, 5 in Finland), VentureFriends (3 in Spain, 1 in Finland), EIC Fund (2 in Spain, 1 in Finland), General Catalyst (1 in Spain, 1 in Finland) and NATO Innovation Fund (1 in Spain, 1 in Finland).

Which cities lead startup funding in Spain and Finland?

Barcelona leads Spain with $1B across 60 rounds, ahead of Madrid ($461M). Oulu leads Finland with $902M across 2 rounds, ahead of Helsinki ($561M).

Which month brought the most startup funding?

In Spain, June 2025 ($568M). In Finland, October 2025 ($900M).

How much did startups in Spain and Finland raise in the last 90 days?

In the 90 days to 6 Nov 2026, startups in Spain raised $141M across 12 rounds and in Finland $244M across 9 rounds.

Where does this data come from?

FundraiseBase lists startup funding rounds from public announcements: press releases, company posts and news coverage, checked and updated every day. Amounts are in US dollars. Some rounds are never announced, so the figures show what was made public, not every round. Corrections are welcome.

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