Woom announced raising €2 million from Brightcap Venture fund and Begin Capital.

Spain Investments 21 May 2020
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Woom, a Madrid, Spain-based startup providing a health service for women via a mobile application, completed a €2 million ($2.2M) capital funding round

The investment was provided against 20% of the equity by Bulgaria-based investor Brightcap Venture fund and included participation from Begin Capital. Post transaction, the two founders will control 50% of the company.

The money will be used to hire more resources as the company is looking to launch additional products in the market.

Woom, founded in 2015 by Clelia Morales and CEO Laurence Fontinoy, developed a fertility application to help women learn about their reproductive health. The company has a team of 16 people and around one million registered users and 1.6 million downloads of its application.

Prior to this round, Woom raised $1.6M from a range of local investors from Spain.