Europe’s tech rebounds to €21B in Q3 2025 — but fewer deals signal a more selective market

Funding surges but deal volume shrinks, as big rounds in AI, telecom, and fintech drive Europe’s more selective, mature market.
Europe’s tech rebounds to €21B in Q3 2025 — but fewer deals signal a more selective market

Three-year analysis of third-quarter funding trends reveals that Q3 2025 (€21 billion) rebounded sharply, up 90.9 per cent year over year from Q3 2024 (€11 billion), but remained 25 per cent below Q3 2023 (€28 billion).

Fundraising in Q3 2025

Beyond total capital raised, the number of deals continues to decline year over year: European tech startups closed 1,067 deals in Q3 2023, 981 in Q3 2024 (−8.1 per cent), and 912 in Q3 2025 (−7.0 per cent vs 2024; −14.5 per cent vs 2023), marking a steady contraction in deal activity over the past three years.

Monthly break down

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