Extension Fund
Venture debtMadrid · Pre-Seed–Series B · 3 people tracked
Investment thesis
Extension Fund positions itself as a venture debt pioneer in Spain, operating a hybrid debt fund that finances startups via convertible notes and venture debt. It backs ambitious founders across Spain from pre-seed through Series B, focusing on fintech, insurtech, proptech, cleantech and e-commerce. The convertible note offering is a short-term financing designed to convert into equity in a future round, while venture debt provides more flexible terms than traditional financing for venture-backed companies. Beyond capital, the team provides strategic support, business development connections and structuring of new financing with national and international partners, drawing on the operators' experience founding and backing companies.
Source: firm website, verified Aug 3, 2026.
Team · 3 people
from the firm's website
What they invest in
from 18 of 28 portfolio companiesSaaS ×8Fintech ×7AI & Machine Learning ×4Enterprise Software ×4Consumer ×3HR Tech ×3Wellness & Fitness ×3Cybersecurity ×2
HQs:Spain×8
Investments · 28 tracked
founders shown can be your intro pathBcas provides financing solutions for students and educational institutions.
EdTechFintech
Co-investorsDozen Investments
Boopos provides business acquisition loans for entrepreneurs buying SaaS and other subscription-based online businesses, offering non-dilutive fixed-term financing up to 2.5x EBITDA as an alternative to banks and SBA loans.
FintechSaaS
Co-investorsTheVentureCityActyusKfundZubi Capital
Consentio is a platform connecting fresh produce suppliers and buyers to reduce waste, increase sustainability, and streamline supply chain operations.
AgTechB2B MarketplacesCircular EconomyFoodTechSaaS
Benoit VandevivereVincent Rosso
Co-investorsGrupo ZriserLabel InvestmentsMundi VenturesSalica InvestmentsScale Lab AndorraSquareOne
Co-investorsTarget Global
Getpaid is a licensed European payment institution that operates as embedded payment rails beneath software platforms, offering PCI-compliant, regulated processing with atomic multi-party split settlement that divides each transaction between merchant, platform, and agent operator in a single API call.
Enterprise SoftwareFintechSaaS
Co-investorsInventurePICUS CAPITAL
A Spanish-language content site publishing informational articles about electric mobility, covering topics such as DGT regulations for personal mobility vehicles, electric scooter comparisons, hybrid vehicle types, and EV charger installation.
ConsumerMedia & EntertainmentMobility & Transportation
Goyaba is a well-being curator that creates, acquires, and nurtures lifestyle brands focused on longevity, supplements, and superfoods.
ConsumerLongevityWellness & FitnessMediterranean region, ES
Co-investors10x Founders
Co-investorsEnzo Ventures
Haddock provides restaurant management software that automates recipe costing and ingredient price tracking.
AI & Machine LearningEnterprise SoftwareFintechFoodTechSaaSBarcelona, ES
Arnau Navarro(Founder)inPol Rosell(Founder)inArnau Navarro Rodriguez(Executive Officer)
Co-investorsCOREangelsY Combinator
Internxt is an open-source, zero-knowledge cloud storage provider that encrypts files on the user's device with AES-256 and post-quantum (Kyber-512) cryptography so the provider cannot access them.
Cloud ComputingConsumerCybersecuritySaaSValencia, ES
Fran Villalba Segarra(Founder & CEO)in
Co-investorsAngels CapitalTheVentureCityProsegur Tech Ventures
Ladorian provides an AI-powered retail media platform for physical stores that creates audience segments from sales data and enables intelligent, personalized advertising campaigns across in-store devices to drive sales and generate advertising revenue for retailers.
AdTechAI & Machine LearningRetail Tech
Nemuru provides a financing orchestration platform that allows merchants to offer flexible payment options to customers, improving conversion and sales.
E-commerceFintechSaaS
Co-investorsScale Lab Andorra
Payflow is a financial wellness platform for employers that enables employees to access earned wages on demand instantly and provides flexible compensation benefits through a mobile app and card.
Enterprise SoftwareFintechHR TechSaaSMadrid, ES
Avinash Sukhwai(Founder)inBenoit Menardo(Founder)inAvinash Sukhwani(Executive Officer, Director)Benoist Menardo(Executive Officer, Director)
BoardCedric Asselman(Director)Elisabet Faus Morros(Director)
Co-investorsCarolus InvestCathay InnovationCats.vcCusp CapitalRocket Internet SESprint Vc+3 more
Platanomelón is a direct-to-consumer online store selling sex toys and erotic accessories such as clitoral stimulators, vibrators, lubricants and couples' products, with discreet packaging and shipping.
Direct to ConsumerE-commerceWellness & Fitness
Service Club is a platform that connects drivers with delivery and logistics companies using AI-powered ride-along coaching, VR simulation training, and data-driven intelligence.
AI & Machine LearningHR TechLogistics & Supply Chain
SingularCover is an insurance broker offering customized online insurance policies for Spanish self-employed workers and small businesses, with flexible monthly payments and no long-term contracts.
InsurTech
Smart Protection uses machine learning to detect and remove counterfeits, fraudulent ads, and brand impersonations across e-commerce platforms, social media, search engines, and apps.
AI & Machine LearningCybersecuritySaaS
Co-investorsBootstrap EuropeNauta CapitalSwanlaab Venture Factory
Co-investorsCrane Venture Partners
Co-investorsBynd Venture Capital
Vitaance provides a platform for companies to create customizable, inclusive, and global employee benefits programs that allow workers to choose benefits tailored to their individual needs.
HR TechWellness & Fitness
Co-investorsCalm/Storm VCShilling VCSoftBank Investment Advisers’ Emerge Program
Portfolio news
latest coverage across their companies
haddock · globalnews.ca · Jul 13, 2026
Internxt · eu-startups.com · Jul 16, 2025
Payflow · eu-startups.com · Jun 2, 2025
Boopos · refreshmiami.com · Mar 11, 2025
Frequently asked questions
- How many investments has Extension Fund made?
- Extension Fund has 28 tracked investments.
- What stage does Extension Fund invest at?
- Extension Fund invests at the Pre-Seed, Seed, Series A, Series B stages.
- What sectors does Extension Fund focus on?
- Extension Fund focuses on Cleantech, E-commerce, Fintech, InsurTech, PropTech.
- Where is Extension Fund located?
- Extension Fund is headquartered in Madrid, ES.
- Who does Extension Fund co-invest with?
- Extension Fund most often shares deals with Scale Lab Andorra, TheVentureCity, Y Combinator, among 32 tracked co-investors.
Co-investors · 1
Enzo Ventures is a pre-seed venture firm backing early-stage technology founders across Europe, with a particular focus on Southern European and Mediterranean teams.
Firms observed investing alongside Extension Fund, from public investor directories. Shared companies are the overlap with Extension Fund's recorded portfolio.
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