Andbank presents the AndUp Foundation, focused on accelerating growth-stage startups with a real impact on the country

Escaldes-Engordany, 7 July 2026.
Andbank today announced its intention to establish the AndUp Foundation, an initiative designed to support business projects in their growth and expansion stage. The foundation is aimed primarily at startups and companies that have moved beyond the early stages and are seeking to consolidate, scale and generate a real economic and social impact in the country. Through this initiative, Andbank is reinforcing its commitment to positioning Andorra as an attractive environment for high-value-added projects and as a place where entrepreneurial talent can find support at a key point in its journey.
AndUp aims to provide an environment in which projects with traction can progress through strategic support and connections to an international network of experts, mentors and investors. The foundation seeks to act as a catalyst by facilitating access to specialist knowledge and opportunities that strengthen companies’ positioning and competitiveness both within and beyond the country. This initiative will align with Andbank’s commitment to an Andorra that embraces innovation, modernisation and the ability to attract new professional profiles.
The foundation, led by Vanesa Arroyo, launches with eight companies already on board: City Xerpa, Cellab, Onalabs, 4Mediks, Byte Travel, Nuitée, Commençal and Rapidand.
The launch of AndUp comes at a time of transformation for Andorra’s economy, which is moving towards a more diversified, knowledge-driven model. The country has a growing entrepreneurial community and infrastructure that supports solution validation and the development of new projects. The foundation aims to actively contribute to this momentum by providing a space where growth-stage companies can find support to overcome barriers, advance towards internationalisation and unlock their full potential.
Vanesa Arroyo will lead the launch and rollout of the project. In her words, “AndUp represents a step forward in supporting companies at a decisive point in their growth. Our purpose is to help them scale with confidence and turn them into drivers of impact for the country.”
For his part, Carlos Aso, CEO of Andbank Group, said: “Through the AndUp Foundation, we aim to contribute to the country’s economic diversification by supporting high-growth sectors and projects.”

Governance and structure
AndUp will have a robust governance structure combining independence, rigour and expertise. A Board of Trustees, initially comprising Andorra Telecom, Francesc Destrée — a well-known entrepreneur in the country — and Andbank, will oversee the foundation’s strategic direction and good governance. An Executive Committee will be responsible for operational management and programme monitoring, while an Advisory Board of independent experts will contribute judgement and specialist knowledge to ensure that decisions and initiatives are aligned with international trends and the real needs of the entrepreneurial ecosystem. The AndUP Network will become a hub for connection and collaboration among entrepreneurs, mentors, corporations and institutions, activating synergies and opportunities.
During its initial phase, AndUp’s priorities will include gradually activating the entrepreneurial community, carrying out the first selection of projects and launching advanced support programmes. From then on, the foundation will focus on building traction and expanding the selected initiatives, implementing measures to increase their visibility, encouraging international participation and fostering connections with global networks and strategic alliances that will help position Andorra as a strategic hub for growing startups.
With the AndUp Foundation, Andbank reaffirms its commitment to an innovative, dynamic and future-focused Andorra. The foundation represents a commitment to accelerating robust, scalable projects by providing the support they need to grow at a decisive stage in their development. Through this initiative, Andbank aims to make an active contribution to generating economic and social value.