This week, our research team tracked more than 100 tech funding deals worth more than €3.6 billion, and about 18 exits, M&A transactions, and rumours, and related news stories across Europe, including Russia, Israel, and Turkey.
As always, we are putting all of them together for you in a handy list sent in our round-up newsletter (note: the full list is for paying customers only).
Recently, we also started publishing 'Today in European Tech', a daily round-up of deals and news stories that caught our attention. Keeping you updated on all things EU tech is our priority!
Today, instead of a daily round-up we give you an overview of the 10 biggest European tech news items for the past week (subscribe to our free newsletter to get this round-up in your inbox every Monday morning).
1) Cazoo rival Cinch clinches more than £1 billion in funding
The owner of Cinch, the digital used car platform, has secured £1 billion of new equity funding as it vies to capture a big slice of the growing international market for online vehicle sales.
Exciting news - we’re delighted to announce that our parent company Constellation Automotive Group has raised more than £1bn to help us grow even faster across the UK and Europe. Watch this short video to find out more: pic.twitter.com/MwNgHbDvkW
— cinch (@cinchuk) May 21, 2021
2) "Europe's Robinhood" Trade Republic scores $900 million round
Berlin’s neobroker Trade Republic has raised $900 million in a Series C investment round led by Sequoia. New investors TCV and Thrive Capital participated and existing investors Accel, Founders Fund, Creandum, and Project A all followed on.
An unparalleled mix of vision & tenacity: https://t.co/ln7Xqbdze0
— Keith Rabois (@rabois) May 20, 2021
3) Irish fintech scale-up Fenergo acquired by two European PE firms
Fenergo, the Irish fintech startup focused on regulatory compliance, is to be acquired by a pair of private equity firms in a deal worth $600 million.
Fenergo announces that #Bridgepoint and #Astorg, alongside Fenergo’s management team, have acquired Fenergo from Insight Partners. The acquisition will drive investment in Fenergo’s SaaS strategy, product development and team expansion.https://t.co/tZbPBDr3f7#FinTech #RegTech pic.twitter.com/2IU6caW2nz
— Fenergo (@Fenergo) May 18, 2021
4) UK fund manager Hedosophia's SPAC raised €400 million in an Amsterdam listing
Hedosophia European Growth, a blank-check company launched by UK fund manager Hedosophia, has raised €400 million in its Amsterdam listing. The Financial Times reported earlier that the SPAC plans to target European tech companies worth up to €5 billion.
"Hedosophia to float €400m Spac to buy European tech unicorns”https://t.co/oUnauc8SBT
Also, ‘this means more SPACcination in Europe', now that I’ve coined that term.
— Robin Wauters @ Tech.eu (@robinwauters) May 11, 2021
5) Snap buys UK-based WaveOptics for $500 million
Snap has agreed to acquire WaveOptics, the supplier of the augmented reality displays that power its new Spectacles glasses, for more than $500 million, The Verge reports. Based in the UK and founded in 2014, WaveOptics raised a total of $65 million in funding to date.
Scoop: Snap largest acquisition ever is WaveOptics, the maker of the AR displays that power its new Spectacles glasses.
At more than $500 million, the purchase underscores Snap’s long term bet on AR glasses. https://t.co/BpuWITEdT5
— Alex Heath (@alexeheath) May 21, 2021
6) Germany opens ‘anti-competition’ probe into Amazon with tougher law
Germany’s anti-trust watchdog is investigating whether Amazon has exploited its market dominance.
German #antitrust agency starts proceedings against @amazon under new competition rules to determine if ecommerce giant is dominant. If it is, watchdog has power to stop it from moving into new markets https://t.co/fslwr8mDRV pic.twitter.com/UPPRJcb32u
— Mark Scott (@markscott82) May 18, 2021
7) French refurbished electronics marketplace Back Market backed by $335 million
Parisian refurbished electronics marketplace Back Market has raised $335 million in a Series D round led by General Atlantic. The round also saw participation from Generation Investment Management, as well as existing investors Goldman Sachs Growth Equity, Aglaé Ventures, Eurazeo and daphni.
— Reuters (@Reuters) May 18, 2021
8) Entering the Amazon roll-up race with $200 million in fresh financing
An Amazon business-acquiring startup called Factory14 — based in Luxembourg (with offices in Madrid, London, Shanghai and Taipei) — came out of stealth mode in Europe with $200 million in funding and an announcement that it's acquired Pro Bike Tool, a popular D2C seller of its own-brand bike accessories and tools, for an undisclosed sum. The majority of the financing is coming in the form of debt to acquire companies.
— TechCrunch (@TechCrunch) May 20, 2021
9) Another French marketplace raises funding: Ankorstore nabs €82.4 million
Ankorstore, an online wholesale marketplace from France, has raised €82.4 million in a Series B funding round.
We're proud to announce our Series B funding of $100 million which will support our growth across Europe as we build our vision for the future of independent retail.
Thank you to our team, partners and investors who believe in this important mission.https://t.co/AxXXVIiq72
— Ankorstore (@Ankorstore) May 17, 2021
10) Good Pitch: Berlin-based presentation platform secures $85 million
Berlin-based collaborative presentation platform Pitch has raised $85 million in a Series B round led by Lakestar and, yep you guessed it, Tiger Global. The round also saw participation from existing investors Index Ventures and Thrive Capital.
It’s a big day at @Pitch: We’ve raised an $85m Series B, led by Lakestar and @Tiger_Global, and are unveiling our expanded product vision and roadmap.
Here’s what it all means
— Christian Reber (@christianreber) May 20, 2021
Tech.eu Podcast #220: The “paradigm shift in how people work” with Tariq Rauf of Qatalog
- ‘Better done than perfect’: Berlin-based micro-mobility scale-up TIER opens up about its expansion journey.
- Europe has been slow to catch on to the boom in SPACs, but signs of oversaturation in the US suggest the continent's turn is coming.
- Change Ventures' Baltic Startup Funding Report is out! It's a semi-annual publication of detailed data about funding rounds for startups in the Baltics.
- Flying in the face of the traditional entrepreneurship model, Franco-Belgian startup think tank/incubator/VC facilitator eFounders celebrates its 10 year anniversary today with the formal announcement of a $2 billion portfolio valuation.
- An insider’s look at one year at Hopin, the fastest growing startup in Europe.