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 more than 70 tech funding deals worth over €800 million, as well as more than 15 M&A transactions and IPOs across Europe, including Russia, Israel, and Turkey.

Note: In May, shone a light on digital health in Europe, with a little help from a friend (Bayer G4A) - check it out!

Meanwhile, here's an overview of the 10 biggest European tech news items for this week:

1) London-based fintech scale-up WorldRemit has secured $175 million in a Series D funding round led by returning investors (TCV, Accel and Leapfrog Investments). Founded back in 2010, WorldRemit provides a low-cost alternative for smartphone and online payments.

2) Israeli online freelancer platform Fiverr has published an updated prospectus for its planned Wall Street IPO. The company plans to raise $100 million at a valuation of $600 million, post-money.

3) UK-based Depop, which operates an online fashion marketplace for ‘Generation Z’, has raised $62 million in a Series C round led by General Atlantic, a US-based investor.

4) EU regulators will decide what steps to take regarding Spotify’s complaint about Apple once they get a response from the iPhone maker, Europe’s antitrust chief said on Monday.

5) Twitter has acquired Fabula AI, a London-based startup that uses machine learning to help detect the spread of misinformation online. Terms of the deal were not disclosed, but the acquisition will underpin a research group at Twitter led by Sandeep Pandey that will work toward finding new ways to leverage machine learning across natural language processing (NLP), recommendations systems, reinforcement learning, and graph deep learning.

6) British fintech scale-up TrueLayer, a provider of financial APIs, has raised $35 million in funding in a round led by Tencent and Singapore’s Temasek. Previous investors Northzone and Anthemis also chipped in, bringing the total investment raised by the company to date to $47 million.

7) Google has appealed a $1.7 billion fine from the European Commission for stifling competition in the online advertising industry, the company said Wednesday.

8) Global Fashion Group, which is made up of a number of regional fashion e-commerce sites (Zalora, Dafiti, The Iconic and La Moda) originally incubated in Berlin-based Rocket Internet, announced that it is planning a public listing on the Frankfurt stock exchange later this year. GFG is expecting to raise €300 million by selling newly issued shares in its IPO.

9) Swedish-founded game developer Stillfront has purchased Canada-based KIXEYE in an all-cash deal worth $90 million. Stillfront may pay up to $30 million on top of this based on the results of the financial year 2019.

10) Facebook may be ordered to track down all posts duplicating content it has been told to remove by an EU court, an adviser to the European Union’s top court said on Tuesday. Podcast: Podcast #120: German publishers against the big bad tech, mergers and partnerships in Europe, interview with Samsung NEXT’s Christina Bechhold Russ, and more

Bonus link: Vestager’s grand plan for regulating the digital economy (Euractiv)

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