Technology company Cuatroochenta takes BME Growth by storm

Cuatroochenta a digital cloud management and security solutions company based in Spain, has debuted on BME Growth (former MAB) with great success, experiencing a 49.73% rise and reaching a capitalization of 31.14 million euros.

In 2011, Alfredo R. Cebrián (CEO) and Sergio Aguado (CTO) started Cuatroochenta’s business adventure in the Innovation Park of the Jaume I University of Castellón. The company began developing apps, and 10 years later they have become an international company with more than 90 employees. They offer services in 14 countries and have offices in Madrid, Burgos, Milán, Panamá, Bogotá and Santo Domingo, although their headquarters remain in Castellón.

Internationalization, the key to the increase in revenue (+ 23.4%) in the first quarter of 2020

Talent, professionalism and a great marketing strategy have helped them grow nationally and internationally, and nowadays 30% of their business comes from outside of Spain. The graph below shows that their latest balances are really good. Despite the pandemic, they have increased their revenues by 23.4% in the first half of 2020 and they expect to close this year with net revenues of 7 million. 

These solid results come from a business strategy focused on four business models:

  • Ad hoc development for third parties
  • In-house products
  • Revenue sharing agreements
  • Collaborative projects

This strategy has led them to undertake large projects around the world, especially in Latin America, where their application Find24 is the leading app for classified ads with 1.5 million downloads. In Spain they have set a technological benchmark thanks to apps such as that of the Spanish Society of Cardiology (INTERAAP) and that of urban transport in Valencia (EMT Valencia). Also large multinational companies such as Adidas, Nestlé or Eulen have relied on their services for the development of their software.

BME’s Pre-Market environment, the support program to be successful in expanding your company

After years of great work and continuous growth, they were ready for the next step: going public. In order to do that, they have chosen the best partner for an expanding company with that profile, BME Growth. As we discussed in our previous article, MAB becomes BME Growth, BME Growth has just achieved the European seal of SME Growth Market, upgrading its status as a market and placing it at the same level as the rest of European Growth Markets in terms of quality standards, transparency and liquidity.

In 2017, Cuatroochenta was already on the rise and the company was selected as one of the best Spanish companies for the first Pre-Market Environment program. Pre-Market Environment is a training and networking project promoted by the Spanish Stock Exchange (BME) and the association of business angels Big Ban Angels to help companies to enter the market. That same year, Cuatroochenta completed a capital increase with a capitalization reaching 10 million euros.

Overdemand propels Cuatroochenta by 49.73% upon its debut on BME Growth

Cuatroochenta’s history is full of business achievements and recognitions, such as its selection for the investment program in Silicon Valley of the Spain Tech Center of ICEX in 2016. They helped them succeed in arising interest among investors. An example of this is their capital increase in early October, prior to their BME Growth, debut, when the 2.5-million public offering was completed in just 48 hours with an overdemand of 1,100 requests.

After 3 years of preparation in the Pre-Market Environment, Cuatroochenta was ready to take the leap and become the first listed company in the program. And what a way to do it! A ringing of the bell that has brought a taste of glory, closing the day with a price per share of € 14 after opening at € 9.35, which represents an increase of 49.73% and a total capitalization of 31.14 millions. Its trading ticker is “480S” and it is listed in the fixing mode, with Renta 4 as registered advisor and liquidity provider.

Without a doubt, BME Growth and Cuatroochenta have shown the way to all companies that seek to grow through the capital markets.

Don’t forget to check our social media this week – there will be another debut!