Trending Corporate — No stage disclosed · €3.5M

Trending Corporate closed a €3.5M capital increase as part of a wider financial restructuring: founder/CEO Antonio Catalán put in €1M through his holding ACN Partners (lifting his stake from 54% to 77%), Colombian investor Álvaro Zuluaga of Capital Express provided a €1.5M convertible loan converted into capital, and perfume/energy entrepreneur Soulai Temsa injected €2M into ACN Partners and became commercial director. The equity injection accompanied — but is separate from — a consensual refinancing of €12M of bank debt (Santander held €5M of it), advised by BDO and Talento Abogados for Trending and Ontier for the banking pool, and pending homologation by the Commercial Court of Seville; Alter Capital's 2023 stake was diluted, with a waterfall guarantee to recover €6M. This was a restructuring capital increase rather than a venture round, hence 'Other'.