Fuell
The business, the turning points, and the decisions behind them.
Some sections are still being researched2 / 4
Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Fuell was a Madrid fintech founded in 2019 by Eduardo Ortiz de Lanzagorta and Edgar Alvarez, combining smart corporate cards with expense-management software into one platform for SMEs - automatic receipts, VAT recovery, real-time spend visibility. A Y Combinator Winter 2022 company, it was acquired by HR unicorn Factorial in September 2023.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Company founded
Eduardo Ortiz de Lanzagorta and Edgar Alvarez found Fuell in Madrid to build the corporate card with expense management built in.
- Funding round
Fuell closes a €1.5 million round led by Y Combinator and Fin Capital after joining the Winter 2022 batch.
- Acquisition
Factorial acquires Fuell's technology, clients and team, formalized September 27, 2023 and announced October 3.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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