Dealflow.es #511: Freepik Is Magnific, Hits $230M ARR. Fence Raised $20M. Visma Acquired Bilky. ElevenLabs Opens Madrid Office.

Key Takeaways

• Magnific (formerly Freepik) hits $230M ARR, 1M+ paying users
• Fence raises $20M Series A to build asset‑backed finance layer
• Visma buys Bilky, deepening presence in Spain’s SMB market
• ElevenLabs opens Madrid office, adds ~20 engineers, Santander invests
• Bizum launches NFC payments, bypassing traditional card networks

Pulse Analysis

Magnific’s rebranding from Freepik marks a strategic pivot toward an AI‑first creative platform. By aggregating third‑party models rather than building its own, the company has doubled its subscriber base in 18 months and pushed annual recurring revenue to $230 million, a milestone that places it among Europe’s fastest‑growing SaaS firms. The transition underscores how AI‑enhanced design tools are moving from niche add‑ons to core revenue drivers, attracting deeper investor scrutiny as EQT evaluates its exit timing after a five‑year hold.

In the fintech arena, Fence’s $20 million Series A reflects growing investor appetite for real‑time, asset‑backed finance infrastructure. Backed by Galaxy Ventures, ParaFi Capital and Crane Venture Partners, the round will fund product acceleration and market expansion across Europe and North America. Meanwhile, Visma’s acquisition of Bilky—an integrated platform linking accountants, companies, and employees—strengthens its position in the fragmented Spanish SMB software market. The deal illustrates a broader consolidation trend where larger European tech groups absorb niche players to create end‑to‑end solutions, driving efficiency and cross‑sell opportunities for enterprise customers.

ElevenLabs’ Madrid launch signals the firm’s intent to embed voice AI deeper into European financial services, especially after Banco Santander joined as an investor. The new office, staffed with roughly 20 engineers and sales professionals, will focus on localized product development and partnerships with banks seeking conversational interfaces. Concurrently, Bizum’s rollout of NFC contactless payments bypasses traditional card networks, leveraging instant bank transfers to reshape point‑of‑sale transactions. Together with Merlin Properties’ $8.5 billion data‑center rollout, these initiatives illustrate a wave of infrastructure investment that is modernizing Europe’s digital economy and creating fertile ground for AI‑driven services.