Spain's colonization of mainland Venezuela started in 1522, establishing its first permanent South American settlement in the  city of Cumaná. In the 16th century, Venezuela was contracted as a concession by the King of Spain to the German Welser banking family (Klein-Venedig, 1528–1546). Native ''caciques'' (leaders) such as Guaicaipuro () and Tamanaco (died 1573) attempted to resist Spanish incursions, but the newcomers ultimately subdued them; Tamanaco was put to death by order of Caracas' founder, Diego de Losada.