Citibox raises €80M in debt funding to expand smart mailbox network in Spain

Jul 03, 2024•over 1 year ago

Amount Raised

€80 Million

MadridSmart Cities

Investors

Co VentureGrowth Credit Partners

Description

Spanish smart mailbox startup Citibox has raised €80 million in debt funding led by Growth Credit Partners (London) and CoVenture (New York) to expand its network of smart mailboxes throughout Spain. The company plans to install over 600,000 smart mailboxes in residential buildings in the next three years.

Company Information

Company

Citibox

Location

Madrid, Community Of Madrid, Spain

About

Citibox is a Spanish small mailbox startup that provides smart mailboxes installed inside residential buildings. The company's smart mailboxes are available 365 days a year, 24 hours a day, contributing to successful deliveries and returns on the first attempt. Citibox also aims to improve productivity and bottom line of companies in the sector and contribute positively to the transformation of cities into more sustainable environments.

Related People

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Funding Insights

Based on industry data

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VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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