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Today in European Tech: Romania-born UiPath scores $750 million, the EU calls $15.7 billion Apple tax ruling ‘contradictory’, and more

Robin Wauters 01 February 2021
Today in European Tech: Romania-born UiPath scores $750 million, the EU calls $15.7 billion Apple tax ruling ‘contradictory’, and more
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Hello!

Below, you can find out what happened today in European Tech.

Deals

- Romania-born UiPath has raised $750 million in a funding round that values the automation software maker at $35 billion. The round was led by Alkeon Capital and Coatue.

- British private equity firm Vitruvian Partners has acquired a majority stake in Amsterdam-based IT company Expereo from Apax Partners for an undisclosed sum. The deal is reported to have doubled the value of the company to €750 million.

- UK-based ASOS has agreed to buy Topshop, Topman and Miss Selfridge - but their 70 stores, employing 2,500 people, are not included in the deal. The online retailer is paying a total of £330 million for the brands.

- Israeli software company Otonomo, which has developed a platform for managing automotive data, is in the process of merging with a SPAC that raised $172.5 million in a Nasdaq IPO last September.

- Israeli venture capital firm FinTLV has raised $120 million for a new fund investing in global growth-stage insurance and financial technology companies.

- US company Rapid7 is buying Israeli startup Alcide IO, developer of a security and control platform for Kubernetes-based cloud infrastructures, for $50 million.

- Spain-based EV charging solutions provider Wallbox has closed a €33 million financing round to help it enter new markets. The company also recently acquired Electromaps to help it scale up.

- German private equity firm BID Equity has acquired Paris, France-based Carenity, the developer of a social platform supporting 500,000 patients and caregivers worldwide.

- 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 Reading/Knowing

- EU antitrust enforcers have claimed a court made legal errors when it scrapped their order for iPhone maker Apple to pay €13 billion in Irish back taxes, in a filing to have the verdict overturned.

- After raising a record $10 billion in 2020, Israeli tech startups have begun 2021 with more capital raised ($1.2 billion) than in any single month before.

- Fintech Trends: What to Expect in 2021 (a research report from Digital Horizon)

- ‘Buy now, pay later’ firms such as Klarna will face tighter regulation from the City watchdog following a review of the unsecured credit market. Sky News has learnt a report to be published on Tuesday by the former Financial Conduct Authority (FCA) interim chief executive Chris Woolard will recommend that the sector be formally brought under the regulator's scrutiny.

- 'I suffered anxiety': Monzo founder Tom Blomfield on the pressures of running a digital bank.

- A new working paper from the European Investment Fund says EIF VC-invested startups "were about three times more likely to participate in an M&A deal or experience an IPO than their non-VC invested counterfactuals.”

- How Yubo, one of the hottest consumer startups to come out of France, became an international hit.

- Three Swiss venture-backed startups launched IPOs in 2020, none of them in their home country. In this interview, small and mid-cap IPO specialist Leti McManus explains why there aren't more tech IPOs in Switzerland and what is needed to change this.

- UK fintech startup Zilch wants to flip the dynamic on ‘buy now, pay later’.

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Today in European Tech: Romania-born UiPath scores $750 million, the EU calls $15.7 billion Apple tax ruling ‘contradictory’, and more
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