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

• Investment fund Cinven buys 70% of Idealista from EQT for 2.9 billion euros

• It surpasses Glovo as the Spanish startup’s largest venture.

Habemus is the new most valuable digital startup in Spain. British investment fund Cinven bought 70% of Idealista for €2.9 billion, thus becoming the largest operation in history in the technology sector of our country.

It was in 2020 that Jesus Encinar, the founder of the real estate portal, sold 55% of the company to the Swedish fund EQT for a valuation of 1.325 million euros. Now, four years later, amid a boom in the real estate market, the British fund has bought 70% of Idealista shares for a total value of the company. 2.9 billion euros.

EQT has decided to reinvest and will retain an 18% stake. For now, Jesus Encinar has announced that he will continue to lead the company. For their part, investors Apax and Oakley, who owned 17% and 11% of Idealista shares, exited the shares.

The valuation of 2.9 billion euros represents more than a doubling of the previous valuation when EQT decided to invest in Idealista. Also Outperforms Glovo’s Delivery Herowhich was the largest operation so far, costing 2.3 billion euros.

Besides Glovo, this company outperforms other Spanish unicorns such as Jobandtalent, eDreams, IPO Wallbox or recent valuations such as Factorial or Wallapop.

The sale of Idealista is subject to regulatory approval in Spain (National Market and Competition Commission), Italy and Portugal, the countries in which Idealista operates.

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