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The Spanish company Internxt closes an investment round of 500,000 euros

October 26, 2020

The Valencian cybersecurity startup Internxt, which works with encryption and blockchain, has completed an investment round of 500,000 euros. This was reported to Cointelegraph in Spanish through a statement from Spain.

It is worth remembering that the company was founded in 2019 by the 23-year-old entrepreneur Fran Villalba Segarra and is a technology company with international projection in the cybersecurity field.

The recently completed € 500,000 round was led by The Venture City and ESADE BAN.

The investors

The Spanish company Internxt closes an investment round of 500,000 euros
The Spanish company Internxt closes an investment round of 500,000 euros

The Venture City company was key to completing this investment round. The business angel has thus brought a capital of 180,000 euros into the startup and received 6% of the company.

ESADE BAN and other strategic investors in the world of cybersecurity and in internationalization processes supported this investment.

“We are very grateful to The Venture City and the other investors for their great commitment, which opens the door to international markets,” said Fran Villalba Segarra.

Internxt CEO assured: “There are already new mutual funds interested in joining the company.”

What is Internxt Drive?

Internxt Drive is a storage space that protects users’ security and privacy by encrypting their documents. “Thanks to this product, which has been in existence for a year, the company has already exceeded 12,000 customers, has broken even and has achieved a valuation of more than three million euros,” they emphasized in the statement.

Internxt provides the user with an online “Dropbox-style” storage space for information but is focused on “respecting both the user and our planet,” said Villalba Segarra.

But what is the difference between Internet Drive? “”The internet has become a website owned by four large companies that abuse their power and often violate the user’s privacy“Said Villalba Segarra.

“With Internxt Drive, only the user has access to what is uploaded without losing ownership of it. The security and privacy problem in the network is solved for both businesses and individuals by using innovative encryption and file distribution technologiess, “he emphasized

To achieve this level of security, the tool fragments and encrypts the files on the consumer’s device “so that only he can access them”.

“We have a network of providers all over the world who store encrypted fragments of files that only the consumer can access,” said the young entrepreneur.

In addition to investors such as The Venture City, ESADE, Stripe, Blackberry and YCombinator, this platform has already aroused the interest of thousands of users. So much so that the CEO of Internxt expects to “close 2020 with around 20,000 active users on Internxt Drive”.

In addition, for each new user and as a commitment to the environment, the company made assurances that it will plant a tree.

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