The Rise of SaaS Startups: Insights from Encomenda Capital
In the ever-evolving landscape of technology, Software as a Service (SaaS) has emerged as a dominant model, capturing the attention of investors and entrepreneurs alike. Encomenda Capital Seed II, a prominent venture capital fund, is at the forefront of this trend, investing in innovative startups that are reshaping industries. With a keen focus on pre-seed and seed stages, Encomenda is not just observing the SaaS revolution; it’s actively participating in it.
A Deep Dive into Encomenda Capital
Encomenda Capital has made significant strides in the investment arena, reviewing over 2,000 startups in 2025 alone. This impressive figure highlights the fund’s commitment to tapping into approximately 90% of Spain’s deal flow, extending its reach beyond major cities like Madrid and Barcelona to encompass all Spanish regions. This broad approach allows Encomenda to discover hidden gems in the startup ecosystem, particularly those leveraging SaaS as their core business model.
The SaaS Landscape: A Preferred Investment Model
The allure of SaaS for investors is undeniable. In the third quarter of 2025, a staggering 33% of all venture capital funding was directed towards SaaS startups, a figure that is twice as high as the next most funded sector. This trend underscores the growing confidence in SaaS as a reliable and scalable business model. However, the landscape is shifting; today’s winning software solutions are not merely about organizing tasks but are focused on executing them and delivering measurable outcomes.
Spotlight on Innovative Startups
Encomenda Capital’s portfolio features several SaaS startups that exemplify this evolution. Here’s a closer look at some of the standout companies making waves in their respective industries:
Evolbe
Evolbe is revolutionizing the HORECA (Hotel, Restaurant, and Café) and retail sectors with its B2B software designed for end-to-end management. By unifying operations, HR, and internal communication into a single tool, Evolbe is replacing outdated spreadsheets and fragmented platforms. With over 20 well-known brands, including Brownie and B&B Hotels, already on board, the startup is addressing real operational needs.
Mitte
Mitte is transforming parking management with its centralized platform that allows operators to control pricing, inventory, and availability from a single dashboard. Since its launch, Mitte has successfully closed a funding round and integrated with key players in the mobility ecosystem, expanding its reach to over 40 locations across three countries.
Zinkee
Zinkee is a no-code platform that empowers SMEs to create their own management applications without the need for development teams. By centralizing projects, HR, invoicing, and processes, Zinkee is making it easier for businesses to streamline operations. The startup has garnered attention as the winner of the 5th Venture on the Road edition supported by Google for Startups.
FitnessKPI
FitnessKPI stands out as the first business intelligence software tailored for fitness and sports facility management. Utilizing AI, it centralizes data and automates actions to enhance member retention and profitability. With a presence in over 1,500 clubs and serving 3.5 million members across 26 countries, it has established itself as a leader in the fitness industry.
Zexel
Zexel is making waves in influencer marketing by automating payment processes for campaigns. Its platform allows brands and agencies to pay creators with a single click, simplifying invoicing and minimizing administrative friction. The recent launch of ZexelAI, an AI assistant for managing incidents and payments, further enhances its offering.
Ovianta
Ovianta is leveraging AI to streamline operations in private clinics and hospitals. Its voice-agent platform automates call handling, appointment scheduling, and follow-ups, achieving a remarkable 67% autonomous resolution rate. With multilingual support and full GDPR compliance, Ovianta is setting new standards in healthcare communication.
Seven Sector Technologies
In the realm of cybersecurity, Seven Sector Technologies is making significant strides with its XDRnet product. By redirecting attacks into a virtual replica of real infrastructure, it neutralizes threats without disrupting business operations. With a 99% effectiveness rate in early malware detection, it is already serving notable clients like Puig.
Metly
Metly is digitizing pharmaceutical product launches by connecting laboratories, manufacturers, and distributors through AI-powered intelligent search. With over 35,000 licensed products integrated and plans for expansion into the US and China, Metly is poised to transform the pharmaceutical landscape.
The Common Thread: Real Solutions for Real Problems
What unites these diverse startups is not just their sector but their shared conviction: well-built software that addresses real problems and employs recurring revenue models remains one of the strongest investment theses at the early stage. Encomenda Capital emphasizes the importance of not only innovative business models but also the teams behind them, recognizing that execution is key to success.
For those interested in exploring more about these insights and the evolving SaaS landscape, you can read the full newsletter on LinkedIn.
