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Today in European Tech: Uber 'grants' UK drivers worker status, Casavo secures €200 million, Snap buys Fit Analytics, and more

Robin Wauters 17 March 2021
Today in European Tech: Uber 'grants' UK drivers worker status, Casavo secures €200 million, Snap buys Fit Analytics, and more
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Hello!

Here's what happened today in European Tech.

Deals

- Milan-based proptech firm Casavo has secured €200 million in financing in an effort to revolutionise the way individuals buy and sell homes in Europe.

- Israel-based developer of grid computing software Incredibuild has raised $140 million from Insight Partners as it looks to expand in the US and become a $1 billion company in as little as two years.

- Israeli cloud security company Wiz has raised $130 million in a financing round at a company valuation of $1.7 billion.

- UK-based fintech venture fund Illuminate Financial has closed the lid on a $100 million war chest with backing from Barclays, JPMorgan, Deutsche Boerse and IHS Markit.

- Paris-based HR tech firm PayFit saw a 40% growth over the course of 2020, and has closed a €90 million Series D funding round.

- Berlin-based fintech MODIFI has secured $60 million in from Silicon Valley Bank, now bringing their total capital to $111 million.

- Snap has acquired Fit Analytics, a Berlin-based firm that helps consumers pick the right size of clothing when they shop online.

- Whereby, the Norwegian video meeting platform that’s taking on Zoom, Microsoft, and Google, has raised $12 million in a Series-A round.

- Dija, the London-based grocery delivery startup backed by Blossom Capital, Creandum and Index Ventures, has acquired Cambridge, UK-based Genie, in what looks in part like an acqui-hire.

- 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

- Weeks after a top court ruling that could shake up Britain’s wider 'gig economy', Uber today said it is granting its UK drivers worker status, with benefits including a minimum wage – a world first for the US ride-hailing giant.

- France’s competition authority has given the go-ahead for Apple’s new privacy protocols to be implemented, stating that the move does not “constitute an abuse of a dominant position,” as part of a decision issued today.

- The Council of the European Union gave the green light to the Digital Europe programme to fund investment in cutting-edge technology in the EU, in areas such as artificial intelligence and cybersecurity, with a total budget of €7.6 billion to 2027.

- France’s data protection authority has opened an official probe into Clubhouse over concerns the iPhone audio app may be breaking privacy rules in Europe.

- As the UK adopts digital banking, early leader Monzo is losing market share to rivals including Starling Bank, Curve, Bunq and Revolut, according to figures from Apptopia.

- UK should embrace the boom in SPACs despite signs of a bubble in the US.

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Today in European Tech: Uber 'grants' UK drivers worker status, Casavo secures €200 million, Snap buys Fit Analytics, and more
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