Spanish mattress startup delivers rapid growth

Spanish mattress startup Marmota has doubled revenues during the pandemic so far and plans to increase its annual turnover to 8 million euros.

Marmota, which is understood to be the first brand to sell mattresses 100% online in Spain, reported a turnover of almost 3 million euros in 2019 but is now on course to more than double it as well as ending 2020 with a positive EBITDA.

The company, which was founded by Toni Estelle three years ago, employs 12 staff from its HQ in Barcelona and initially saw revenues jump 75% during the first four months of the pandemic.

Marmota was launched by Atresmedia Hub Factory, the first venture builder in Spain created together with a Spanish media group. The business plans to carry out an investment round in the coming months to expand markets and products to accelerate their growth.