It seems like the European tech ecosystem was feeling the heat in May. The Tech.eu research team tracked €6.9 billion being raised in total. A slight decline was witnessed compared to the total amount raised in April (€10.4 billion). The sluggish month logged in 422 funding deals. 18 companies raised more than €100 million, 57 raised less than €1 million, and 39 were undisclosed deals.
Although less money was raised in total in May compared to April, when it came to industries, the situation was somewhat different. Leading the ranks was the fintech sector. With a total amount of €2.6 billion raised this month, the numbers surpassed even that of April (€ 2.1 billion).