Valencia-based Jeff lost a €90 and €65 million funding round. According to sources, the startup is actively filing for bankruptcy as it hasn’t paid the nine months’ salary of staff. Moreover, many lawsuits have been filed against the company in Mexico, Colombia, Spain, and Brazil.

ValenciaBased Jeff €90 Million Round Explained

The reports of bankruptcy have come into the media after a €45 m Series C funding round led by DX Ventures and actively participated by Prism Venture Management, Stelco, and Clean Ventures. The new companies join the board of members with existing partners, including the Bank of Dubai.

After this round, the company lost various deals, including a €90 million round, as it was seriously accused of tampering with official documents and financial statements. Valencia session court appointed PKF Attest to check Jeff’s bankruptcy reports and file them. After calculating all the assets, it is noticed that the company was in a loss in 2020 and has a debt of €65 million.

Moreover, La Información, in a report, states that Jeff has not provided basic salaries to its employees since September 2022. Eloi Gómez, founder and CEO of Jeff, doesn’t respond to our messages and emails and justified in an interview that due to various problems, we had suffered a loss, and the then investor, Bank of Dubai, froze our capital flow, paralyzing all our operations.

Lastly, the lawsuit is pending in various courts, and all the investors backed off to the €90 million round.

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