These were the 10 biggest European tech stories this week

These were the 10 biggest European tech stories this week


Happy Friday!

This week, we tracked 56 funding deals and 10 M&A transactions across Europe, including Russia, Israel, and Turkey.

We listed every single deal in our weekly newsletter (note: the full newsletter is now available to paying subscribers only). Here’s an extra overview of the 10 biggest European tech news items for this week:

1) PayPal has reached a deal to buy European fintech startup iZettle for $2.2 billion - the biggest acquisition in its history - before the Sweden-born company even had a chance to go a head with its recently uncovered plans to go public.

2) Mark Zuckerberg will appear before the EU Parliament in person to answer questions about Facebook's use of data. The hearing will "hopefully" take place as early as next week, according to Antonio Tajani, the president of the European Parliament.

3) European online gaming company Paddy Power Betfair confirmed that it is in talks to acquire FanDuel, one day after the US Supreme Court struck down a federal ban on sports gambling. An Axios source puts the discussed price tag at between $600 million and $700 million.

4) French startup OpenClassrooms is raising $60 million from General Atlantic, with existing investors Citizen Capital, Alven and Bpifrance also participating.

5) Berlin-based meal-kit delivery firm HelloFresh raised its full-year revenue growth outlook to 30% - 35% on a constant currency basis after reporting strong growth in the first quarter of 2018, driven by the United States, its biggest market.

6) Aircall, a Paris startup that builds cloud-based call centre software, has raised $29 million in Series B funding to "reinvent the business phone". The fresh round was led by Draper Esprit, with participation from Balderton Capital, NextWorld Capital, and eFounders.

7) Intel has submitted plans to expand its production operations in Israel, with the government saying the US chipmaker would invest about $5 billion.

8) Klarna has acquired Düsseldorf, Germany-based, which offers a free 'Universal Cart' browser extension that allows online shoppers to purchase from their favourite stores in one go, and check out with just one click.

9) Teatime Games, an Icelandic social gaming company, has raised a $7.5 million Series A funding round, along with a $1.6 million Seed round, both led by Index Ventures. The venture capital firm Atomico also participated in the Series A round.

10) Spanish martech startup QaShops has been sold to the French e-commerce giant Vente Privee by the venture capital firm Axon Partners Group. The transaction amount was not disclosed.

Bonus link: The UK’s rising digital wave: Tech Nation report shows the strength of the tech sector

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