Today in European Tech: SAP in antitrust crosshairs, Spotify presents positive Q3 results, big rounds for Kodit and GetYourGuide, and more

Today in European Tech: SAP in antitrust crosshairs, Spotify presents positive Q3 results, big rounds for Kodit and GetYourGuide, and more


Here is what happened today in European tech:


-, a Finnish real estate startup using tech to speed up sales in the housing market, has raised €100 million in a combination of equity and debt. The round, led by Nordic real estate investor NREP, will be used to purchase new homes for Kodit’s real estate portfolio.

- Germany-based GetYourGuide, a booking platform for tours, activities, and attractions, has landed €114 million in funding in the form of a convertible note. The deal could be viewed as a loan, although the note is expected to convert into equity when GetYourGuide raises the next funding round. The company, however, doesn't expect that to happen for another 12­-18 months.

- HV Holtzbrinck Ventures has announced a new €535 million fund to support promising startups in Germany and the rest of Europe. The latest fund brings assets under management to over €1.7 billion.

- London-based LabGenius, a biotech company using machine learning to develop new therapeutics, has secured a $15 million extension of its Series A. The company’s platform, EVA, is designed to rapidly identify and test potential new drugs, which cuts down the cost and risk associated with drug development.

- CodeSandbox, an Amsterdam-based startup building a web development platform for collaborative teams, has raised a $12.7 million Series A round led by EQT Ventures. So far, over 10 million projects have been created on the platform, which sees 2.5 million users monthly.

- We also tracked a large number of (other) European tech funding rounds and M&A transactions, all of which we are putting in a handy list for you on Friday afternoon in our weekly roundup newsletter (note: the full list is for paying customers only). Also check out our European tech news section for ongoing coverage.

Worth Knowing

- Germany has launched a new antitrust investigation into Amazon, French online advertising lobbies have filed an antitrust complaint against Apple… But the next target of European competition regulators is likely to be a local company — namely, Germany's most valuable company SAP.

- Spotify has published its results for Q3'2020, and thinks look reasonably optimistic for the company. The number of monthly active users grew to 320 million, and so did the number of paying subscribers, which reached 144 million. Revenue from subscriptions went up 15 percent YoY to €1.79 billion. Advertising revenue also increased — though only by 9 percent — to reach €185 million.

- The Telegraph has published its Tech Hot 100 list featuring “the richest founders at Britain's fastest-growing start-ups whose dynamism and thirst to succeed have weathered Covid's storm.”

- Despite all controversies surrounding the company, Revolut's founder Nikolay Storonsky seems to be extremely optimistic about the challenger bank's future in Europe and the US.

- Looks like we're going to learn more about the European Commission's plans to assert “sovereignty” over technology. Politico has seen several proposals for new rules that are expected to be unveiled in the coming weeks — and those include “restricting the flow of certain types of data out of the bloc — a concept known as data localization.”

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