Here's what happened today in European Tech.
- Private equity powerhouse Permira has announced a strategic investment in Norway-listed online classifieds juggernaut Adevinta, buying approximately 125 million shares in the company from eBay – equal to a 10.2% stake – for a total price of €1.9 billion.
- Israeli cybersecurity company Cybereason has raised $275 million in a financing round led by Steve Mnuchin's new fund Liberty Strategic Capital.
- Shares of UK-based non-bank mortgage lender LendInvest rose as much as 10% in early trading on Wednesday as the company started trading on the London Stock Exchanges Junior AIM, implying a market capitalisation of £281.7 million.
- The business of life insurance isn’t exactly the most pleasant. It’s an industry based on providing a financial payout to loved ones upon your death. But what if instead of focusing on the end of days, a life insurance provider looked at, and encouraged, living better? That’s exactly what London’s YuLife is doing, and has raised $70 million, with the ambition of developing new products, expanding its UK presence, and making inroads into new global markets.
- London fintech scale-up Railsbank has raised $70 million in a recent funding round as it further expands services across the European, Asia Pacific, and North American markets.
- London-based VC firm Untitled Ventures has raised €100 million for its second fund, which will focus on deep tech startups that are founded in eastern Europe and have the desire to relocate or have already established an HQ in western Europe or the US.
- Vienna/Munich-based workplace collaboration tool platform Meister (a.k.a. MeisterLabs) has raised $52 million in a growth financing round.
- Stockholm-based VR games studio Resolution Games has raised $25 million in a Series C funding round. The influx of capital is slated to accelerate growth and scale ahead of projected market growth. Resolution Games has raised a total of $38.5 million to date.
- Russian insurtech startup BestDoctor has closed a $26 million Series B round from Winter Capital Partners, alongside Swedish investor VNV Global and UNIQA Ventures, the corporate VC backed by UNIQA Insurance group.
- French startup Wecasa, which has been building a marketplace for home care and wellness, has raised a $17.7 million funding round. Blisce is leading the funding round with existing investors Serena, ISAI and Frédéric Mazzella also participating.
- 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.
- The head of the German competition watchdog has criticised EU draft tech regulations, saying they are too “narrow” and risk failing to catch future anti-competitive behaviours from companies such as Google and Facebook.
- Israeli tech is showing no signs of slowing down, displaying a sharp upsurge in capital raising in the second quarter of 2021, according to data published by the IVC Research Center and the law firm Meitar.
- A profile of Spotify's chief legal officer Horacio Gutierrez, who leads its campaign against Apple in the US and EU, painting Apple as an abusive monopolist.
- Insurtech in Europe - H1 2021 in review: €1.7 billion was invested across 52 deals, more than 2019 and 2020 combined.
- The European Central Bank announced that it’s starting work toward creating a digital euro currency as more consumers ditch cash.
- Tech.eu Podcast: Programming tools for teenage girls — with Dora Palfi, imagiLabs.
- Opinion: As part of the ongoing development of EU research and innovation policy, it is now time to start the debate and support concrete actions to protect academic freedom in Europe.
- Project A Ventures, the early-stage VC firm headquartered in Berlin that has backed the likes of WorldRemit, Sennder, KRY and Voi, says it has brought its “Operational VC” model to the UK by opening its first international office in London.
Today's Top Tweets
— Oscar Farres (@oscarfarres) July 9, 2021
Let me share my thoughts on the new Startup Law in Spain. I've been tangentially involved with it's drafting for some years now. (A thread )
— Alex Barrera (@abarrera) July 13, 2021
Project A Ventures (@ProjectAcom), the early-stage VC firm headquartered in Berlin that has backed the likes of WorldRemit, Sennder, KRY and Voi, says it has brought its “Operational VC” model to the UK by opening its first international office in London.https://t.co/5HkT9HzEEL
— Tech.eu (@tech_eu) July 14, 2021
Late to the sharing party but it was a pleasure catching up with @HannoRenner, co-founder and CEO of Munich unicorn @PersonioHR, the HR tech company that recently raised $125 million at a $1.7 billion valuation:
Have a listen:
Many more coming! pic.twitter.com/m0F4983yBW
— Robin Wauters @ Tech.eu (@robinwauters) July 14, 2021
Reality check by @katjabego + @NGIForward: "These new European champions would still be forced to operate under the existing rules of the game, rely on the same exploitative business models and would thus risk only perpetuating existing problems." https://t.co/hmMy5u1868
— Alberto Cottica (@alberto_cottica) July 14, 2021
Achievement unlocked: All of Europe.
Welcome Oslo, Helsinki, Reykjavik, Tallinn, Riga, Vilnius and Luxembourg
We now cover EVERY major city in Europe.
Join the party https://t.co/xGZ9HeRkDg
— C i t y m a p p e r (@Citymapper) July 14, 2021
— Florian Graillot (@FGraillot) July 14, 2021
— Atomico (@atomico) July 14, 2021
Yesterday was my last day @wayra and @telefonica. I am so glad for the friendships forged, the incredible opportunities given and the great lessons learned over the past years. Ready for the next adventure! https://t.co/GtnaQmseUR
— Miguel Arias (@mike_arias) July 14, 2021
— Notion Capital (@NotionCapital) July 14, 2021
Small, fast, and just as loud—Spotify Lite is now available in 35 additional markets. Get the full list here. https://t.co/KDA4X9O32g
— Spotify News (@SpotifyNews) July 14, 2021
— Tech.eu (@tech_eu) July 14, 2021
Super excited to officially welcome @eatGOURMEY to the P9 Family!
— Christoph Janz (@chrija) July 14, 2021
— Hopin (@Hopin) July 13, 2021
CrowdfundingHub Chairman Mr. Kleverlaan today shares his sights into the publication of our research report: Unlocking the crowdfunding potential for the European Structural and Investment Funds. Check the full version here: https://t.co/2phqJhZcaw
— CrowdfundingHub (@crowdfundinghub) July 14, 2021
Over €9️⃣0️⃣M available under the first calls of the European Innovation Ecosystems Work Programme!
calls under the following destinations are now open:
SCALEUP CONNECT INNOVSMES
— European Innovation Council (@EUeic) July 14, 2021
Hello from the other side As a builder at heart, I am so excited to continue working alongside enterprise founders all over Europe at @crane_vc
I am personally passionate about all things devtools, security, AI/ML tools -- please come and say hello!https://t.co/QDM1SnChd8
— Morgane Zerath (@MorganeZerath) July 14, 2021
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