Magnific, a platform from Málaga, has launched a 10 million euro fund to support creative teams in transforming raw AI experiments into commercial campaigns
Airbnb announced new functionalities including car rentals, grocery delivery through Instacart partnership, airport transfers via Welcome Pickups, baggage storage through Bounce, boutique hotel integration in 20 cities (including Paris, London, Madrid, Rome, New York), FIFA 2026 World Cup experiences, and AI-powered features for trip planning and customer support in 11 languages.
Qivalis, a consortium of European banks based in Amsterdam, has expanded to 37 member institutions from 15 countries to develop a euro-denominated stablecoin as an alternative to dollar-dominated stablecoins. The initiative plans to launch a regulated stablecoin in the second half of 2024, subject to regulatory approval. Portuguese banks are notably absent from the project so far, though it includes major banks from Spain, France, Italy, and Nordic countries.
AM Experience by MK Illumination, a Portuguese company based in Braga specializing in festive illuminations and ice shows, reported 8 million euros in revenue for 2025, up from 6.8 million in 2024. The festive lighting division generated 5 million euros with 2.6 million from Spain operations. The company is expanding its ice show concept to Spain, launching in PuertoVenecia shopping center in Zaragoza in November with plans to expand to Madrid, Barcelona, Seville, Corunha and Bilbao. The ice show is expected to attract 60,000 spectators and generate 1 million euros in revenue over seven weeks.
Charlotte Tilbury’s founder is threatening to renegotiate her contract with Puig, which owns 78.5% of the British makeup brand. The founder holds the remaining 21.5% stake and is invoking a change of control clause ahead of potential acquisition by Estée Lauder. In 2024, Puig valued the entire brand at approximately 4 billion euros when it purchased an additional 5.4% stake for 215 million euros. The founder’s remaining stake could be worth around 850 million euros at current valuations, which may deter Estée Lauder from proceeding with the acquisition of Puig.
Greenfiber, a subsidiary of Portuguese multinational Altri, presented new arguments to unblock its €1 billion industrial pulp mill project in Palas de Rei, Galicia. The company claims the future factory is energy self-sufficient and proposes alternative power supply solutions including cogeneration systems. This move contests the Galician authorities’ decision from February to archive the project due to lack of guaranteed electrical supply.
Monzo, the London-based digital bank, has achieved £1bn in gross profit for the first time and announced its third consecutive year of profitability with a 20% rise in adjusted profit before tax to £172.6m. The fintech is expanding aggressively across Europe, having launched in Ireland in April with 100k customers on the waitlist and announcing Spain as its next market with offices in Barcelona and Madrid. The bank recorded 3m new customers this year and saw business banking customers grow 45% to over 905k.
Kanara was selected as the only Spanish company to receive the EIC Pre-accelerator grant from the European Innovation Council, receiving €499,000 in funding. The selection was highly competitive, with only 70 companies chosen from over 1,000 applications.
Pestana Hotel Group received 38 nominations at the World Travel Awards 2026 and World Golf Awards 2026. The nominations include 33 World Travel Awards and 5 World Golf Awards across properties in Portugal (Porto, Lisboa, Tróia, Algarve, Madeira, Porto Santo) and internationally (Spain, Netherlands, USA, Brazil, Venezuela, Morocco, and São Tomé and Príncipe). Notable nominations include Europe’s Leading Hotel Brand 2026 for the group overall, and multiple category nominations for properties like Pestana CR7 Times Square and Pestana CR7 Gran Vía Madrid.
ICO, through its venture capital subsidiary AXIS, has approved an investment of 3.67 million euros in KD, a Spanish microelectronics company focused on high-speed optical communications technology that enables reliable and efficient transmission of large data volumes in adverse environments