This Week in European Tech: Klarna's valuation gets kut, wefox weloads warchest, BlackFin is back with €350 million, and more!

Here's a roundup of this week's biggest European Tech funding rounds, exits, 'other news' that you need to be aware of, topped off with an overview of must-read articles on all things #EUtech.
This Week in European Tech: Klarna's valuation gets kut, wefox weloads warchest, BlackFin is back with €350 million, and more!

This week, our research team tracked more than 120 tech funding deals worth over €2.3 billion and over 15 exits, M&A transactions, rumours, and related news stories across Europe.

As always, we are putting all of them together for you in a list sent in our round-up newsletter next Monday (note: the full list is for paying customers only, and also comes in the form of a handy downloadable spreadsheet).

We've also got some news for you: we're already gearing up for the second edition of the Summit! Save the date: 24 May in Brussels. We have a super early bird offer running that gets you 2 tickets for the price of 1, but hurry, this offer expires on the 21st of July.

With that said, let's got down to business with the biggest European tech news items for the past couple of days (subscribe to our free newsletter to get this round-up in your inbox).

What happened this week in European Tech?


>> Notable and big funding rounds

Sweden's Klarna has raised $800 million in fresh financing, repeatedly blaming the global market downturn for its significantly lower valuation.

wefox adds $400 million to its warchest, and reaches a valuation of $4.5 billion as it aims to deploy its products via API to brokers and adjust insurance offerings in real-time

Barcelona’s Impress heads toward a $125 million Series B round in its bid to digitize orthodontics

Fluent Money Group completes £73 million deal with London-listed Mortgage Advice Bureau now owning 75.4% of the startup.

Leveraging influencer marketing growth, Everdrop cleans up in €80 million round

Despite the war, Ukrainian startup Preply raises $50 million for tutoring marketplace as it aims to expand in the U.S. and Europe.


>> Noteworthy acquisitions, mergers, IPOs and SPAC deals

After acquiring the Shift conference in April, Infobip added regional developer-focused tech publication Netokracija to the list.

Spotify snapped up Heardle. And ruffled a few feathers in the process.

Just days before Bastille Day, the UK's money management for kids provider GoHenry lowered the guillotine on Pixpay.

Perhaps as a matter of national pride (?) Paris-based Thales announced the acquisition of Dutch startup OneWelcome for €100 million the same day.

With ties to Bunq founder Ali Niknam, Belgium’s acquired a majority stake in Rotterdam-based Leadinfo


>> Interesting moves from investors

Armed with a new €1 billion fund, Cathay Innovation is looking to invest in the change-makers of tomorrow across Europe, Asia, and North America with Series A and B investments ranging from €5 million to €80 million.

COI Partners rolls out €120-million fund to expand deal-by-deal platform for DACH growth companies

Paris-based BlackFin Capital Partners announces 2nd close of Tech 2 Fund at €350 million

Elaia rolls out €77 million fund to back deeptech startups across Europe

GED Capital has launched a new €100 million fund aimed at investing in startups in Portugal


>> In other (important) news

Starling’s Engine CEO Sam Everington doesn’t plan to “follow the Revolut path” into Europe

Google faces fresh antitrust probe in Italy after data portability complaint

The London Stock Exchange has agreed to back a review addressing declining growth and investments into UK fintech startups.

London fails to retain Atlassian as it heads Stateside in search of a ‘broader set’ of investors

EU regulators accept Deutsche Telekom's Czech mobile unit, 02 Czech concessions

Hopin cuts 29% of its staff, just months after its last layoffs


>> Recommended reads and listens

🎙️ Cycling below the radar, why smaller is sometimes better with Ampler Bike's Ardo Kaurit

In a sea of discord and distrust, countries get together to define scientific values and principles

For UK startups, a global growth mindset is crucial from day one

European Commissioner for Internal market Thierry Breton's thoughts on the EU Chips Act in motion. "There is no industrial leadership without a factory."

Despite an ‘unprecedented correction’, Atomico’s newest partner wants to help European founders thrive

Britain’s Online Safety Bill set to be delayed

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