These were the 10 biggest European tech stories this week

These were the 10 biggest European tech stories this week


Happy Friday!

This week, our research team tracked over 80 tech funding deals worth more than €1.1 billion, as well as a bunch of M&A transactions across Europe, including Russia, Israel, and Turkey.

We listed every single deal in our weekly newsletter. Here’s an extra overview of the 10 biggest European tech news items for this week:

1) Switzerland-headquartered Veeam, a provider of data backup solutions for enterprise customers, has raised a monster of a round of $500 million led by Insight Venture Partners, with participation from Canada Pension Plan Investment Board (CPPIB). This is the first publicly announced capital injection for the 12-year-old company.

2) NuCom, the e-commerce arm of the media company ProSiebenSat.1, has acquired a majority stake in Aroundhome, a German online broker for household products and services. NuCom increased its stake from 42 percent to 94 percent in a deal worth €140 million; it purchased a 42 percent stake from General Atlantic and the rest from the founders.

3) A new startup in the e-scooter space, Berlin-based Flash, has raised a gigantic Series A funding round of €55 million led by Target Global. The startup was founded by Lukasz Gadowski, the co-founder of Delivery Hero, together with Uber and McKinsey alumni.

4) Quinyx, a London/Stockholm-based provider of workforce management solutions, has raised a $25 million funding round from existing investors Alfvén & Didrikson, Battery Ventures and Zobito.

5) Magenta Venture Partners, a VC firm with Israeli and Japanese partners, has announced a new fund targeting $100 million. The fund saw an initial closing back in 2018 and is expected to be finalised by the end of this year.

6) Personio, the German HR and recruiting platform, has raised $40 million in a Series B funding round. Leading the round is London-based Index Ventures, with participation from existing investors Northzone and Rocket Internet’s Global Founders.

7) Delivery logistics startup Bringg based in Israel and the US has raised $25 million in a Series C funding round from the Siemens-backed VC firm Next47 and existing investors, including Salesforce Ventures, Aleph VC, OG Ventures, Cambridge Capital, Coca-Cola Ituran, and Pereg Ventures.

8) American rapper, actor and producer Calvin Cordozar Broadus Jr. (perhaps better known as Snoop Dogg) has invested in Swedish fintech scale-up Klarna.

9) A music-streaming service owned by American musician Jay-Z is under criminal investigation in Norway over allegations that albums by Beyoncé and Kanye West were fraudulently streamed several hundred million times. Tidal has come under investigation by Økokrim, the Norwegian police’s economic crime unit.

10) Minsk-based, a company affiliated with the trading platform, has raised $8 million in funding from Larnabel Ventures and VP Capital. The startup has also announced the launch of what it claims to be “the world’s first fully-functional trading platform for tokenised securities.”

Podcast: Podcast #101: TransferWise in Brussels; more money for N26 and Horizn; Alibaba’s activity in Europe; and more

Bonus link: European Banking Federation report on crypto assets: Ensure consumer protection but avoid over-regulation as crypto has potential benefits

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