Short answer: in Spain, three kinds of firm help a startup raise money: fundraising advisors focused on the private round (such as Senda Partners), outsourced CFOs who run the finances and prepare the documents (such as CFOx), and public funding consultancies that specialise in ENISA and CDTI (such as Premoney). Some firms combine several of these, like Nexen Capital, Intelectium or The Startup CFO. The best one is not the biggest: it is the one that fits what you are missing to close your round.
One note before we start: this article is written by Senda Partners, which appears in the list. We say so up front so you read it knowing that. Each firm's figures are the ones it publishes on its own website as of September 2026.
Who does what
| Firm | Type | What it focuses on | Figures it publishes |
|---|---|---|---|
| Senda Partners | Fundraising advisor and investor | Private rounds for startup founders, from the first round onwards: story, pitch, deck, model and data room, seen through the eyes of someone who invests; charges for time and dedication, no success fee | More than 100 clients advised, whose rounds add up to more than €280M; 4 pre-seed investments through Suda |
| Nexen Capital | Fundraising, public funding and CFO | Private rounds combined with ENISA, outsourced CFO and R&D | More than €100M raised, more than 1,200 founders |
| Intelectium | Public and private funding, CFO, legal, investment | Rounds from pre-seed to Series C, ENISA and CDTI, with its own investment vehicles | More than 21 years, more than 450 projects, more than €400M channelled |
| Premoney | Public funding | ENISA, CDTI, Neotec and R&D tax deductions | 89% approval rate, €232k average per application |
| CFOx | Outsourced CFO | Finance, data and round documents for tech startups in Spain and Peru | Round documents in 2 or 3 weeks |
| The Startup CFO | Outsourced CFO, public and private funding, legal | Outsourced finance, ENISA and CDTI, and private rounds from €500,000, with its own training for founders | More than 450 clients, more than €200M raised |
How to choose
If your private round is not moving, the problem is almost always the story and how an investor reads it. Look for a fundraising advisor who has sat on the investing side. That is what Senda does: we invest at pre-seed, so we prepare every round the way the person writing the cheque will read it.
If your cash and numbers are a mess, start with an outsourced CFO. A good financial model does not close a round, but a bad one kills it.
If you have a tech project with real R&D, add a public funding consultancy. ENISA and CDTI extend your runway without dilution, but they rarely replace a private round.
If you have raised before and have a network, you probably need nothing more than a second opinion on the deck.
We go deeper into this in fundraising advisor, outsourced CFO or public funding consultancy (in Spanish).
Five questions before hiring anyone
- Have you ever invested yourself? Someone who has been on the investor side knows which question will kill your round before it is asked.
- How many rounds like mine have you seen close? Stage and sector matter more than the total number.
- How do you charge? Fixed fee, monthly retainer or success fee. Ask what happens if the round does not close.
- What do you do and what do I do? Nobody can raise the round for you: the founder is still the one selling.
- Do you introduce me to investors or only prepare me? They are different services, and you should know which one you are buying.
What to be wary of
- Promises of a guaranteed close. Nobody can guarantee that an investor will sign.
- Lists of thousands of investors as the selling point. What closes rounds is a short, well chosen list, not a long one.
- Very high success fees on public money. Always ask what base the fee is calculated on.
For the whole process of raising a round in Spain, see the guide to fundraising for startups in 2026.
Nacho Sánchez is an early-stage investor at Archipélago Next and Suda. At Senda, he helps founders raise their round from the investor's side. Before that he was at Antler, Adara Ventures and Demium.