Velca — Debt · €600K

Electric motorcycle and bicycle maker Velca secured a €600,000 participative loan from Spain's public innovation agency ENISA, arranged by financial boutique Andseed — reported at the time as ENISA's largest 2024 operation and Velca's third ENISA loan (€810,000 in total). This is quasi-equity public debt rather than an equity round; Velca had separately closed a €5 million-plus round led by Sego Finance and Sherry Ventures in November 2023.