SeQura invests 10 million euros in an innovation centre in Barcelona

Publicerad Monday 23 October 2023 10:30Financing

SeQura will invest ten million euros to open an innovation centre in Barcelona, the city where they established their business in 2014.

– In the next two years we are going to invest around 9 million euros in hiring 150 people specialized in technology and product development. Around one million euros will be invested in the infrastructure of the innovation centre: we will expand our offices in the city centre, says David Bäckström, CEO of SeQura, which as of now employs 179 people.

This investment was made possible due to the capital injection that was formalized last November.

– The Swedish financial group Svea Bank invested 35 million euros in exchange for becoming stakeholders in SeQura, says Bäckström, who together with the founders still holds more than 75% of the company shares.

The company is also investing part of the money from Svea Bank in internationalizing its operations.

– We have just entered France, Italy and Portugal - countries where our service requires a banking license that we did not have before, something that Svea Bank now has provided.

With the extra capital, SeQura anticipates significant growth in its turnover. In 2021 the turnover was 35 million euros, and this year they intend to reach 56 million.

– Business is growing thanks to our presence abroad and also because of the boom in online sales during the pandemic.

SeQura works with major brands within fashion and electronics worldwide, offering payment solutions for both e-commerce and physical stores.

– Currently we are searching to improve and build superior solutions for recurring payments. As e-commerce has grown the range of payment methods available are a big advantage in gaining the loyalty of consumers.

SeQura also announced its incorporation as a global partner of Tech Barcelona, an association that represents more than a thousand companies in the city's digital ecosystem. For Miquel Martí, CEO of the association:

– The financial sector is now in a time of decisive change, and Barcelona has the opportunity to contribute and lead this transformation from technology.