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Today in European Tech: Bunq bags €193 million round, Younited Credit nabs $170 million, Swiss Post buys Tresorit, and much more

Robin Wauters 08 July 2021
Today in European Tech: Bunq bags €193 million round, Younited Credit nabs $170 million, Swiss Post buys Tresorit, and much more
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Hello!

Here's what happened today in European Tech.

Deals

- Amsterdam’s bunq has closed a record-breaking European fintech Series A round at €193 million. This now gives the neobank a valuation of €1.6 billion. Not too bad for a company that until this announcement had remained bootstrapped by its founder Ali Niknam for close to a decade.

- French startup Younited Credit has raised a $170 million funding round. Goldman Sachs is leading the round with existing investors Eurazeo, Bpifrance and AG2R La Mondiale also participating. The company offers several credit products to European consumers.

- Berlin-based photovoltaic systems provider Enpal has closed a €100 million funding round with the goal of becoming the energy supplier for the 21st century.

- Swiss Post, the former state-owned mail delivery firm which became a private limited company in 2013, diversifying into logistics, finance, transport and more while retaining its role as Switzerland’s national postal service, has acquired a majority stake in Swiss-Hungarian startup Tresorit, a European pioneer in end-to-end-encrypted cloud services.

- 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

- Washington told the EU not to tax its tech giants. So Brussels is making plans to tax everyone instead. The European Commission is eyeing a 0.3 percent tax on the goods and services sold online by companies operating in the EU with an annual turnover of €50 million or more, officials briefed on the plans told POLITICO.

- Stellantis, the automaker born out of a merger between Fiat Chrysler Automobiles and French automaker Groupe PSA, will invest €30 billion in electric vehicles and new software over the next four years as part of a major push to transition away from internal combustion engines.

- Wise's record-breaking direct listing has come as a relief to other tech firms aiming to go public in the coming months, the bankers managing those deals and to post-Brexit London.

- Northzone backed Na-Kd, one of Sweden’s fastest growing online retailers, is "getting ready to raise funds on the stock market by convincing ethically-conscious investors that fast fashion can be sustainable”.

- Fintech companies based in London raised more funding from VC investors in the first six months of 2021 than in any other year, demonstrating the British capital's resilience as a hub for digital financial services post-Brexit.

- Investors find European unicorns reluctant to join the SPAC boom.

- Grocery delivery scale-up Getir hopes to double its workforce of 1,500 and operate in up to 15 cities by the end of 2021.

- Kat Borlongan has stepped down as director of the 'French Tech Mission'.

- US-based digital consumer goods company that acquires private label Amazon FBA businesses and direct-to-consumer e-commerce brands, Thrasio has announced the appointment of Amazon vet Georg Hesse as Vice-President UK, DE.

- Swedish video streaming tech firm Bambuser announced their participation in La Maison des Startups, an accelerator program created by LVMH.

- Sweden’s Voi is launching the world’s first large-scale pilot of computer vision on e-scooters in the UK city of Northampton. The AI technology can detect when an e-scooter leaves the road and rides on a pavement, as well as if the vehicle is parked correctly.

- The University of Cambridge has produced more graduate founders than any other UK university, new research reveals.

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Today in European Tech: Bunq bags €193 million round, Younited Credit nabs $170 million, Swiss Post buys Tresorit, and much more
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