European tech in 2025: The data, the deals, and what comes next

At 42 pages, Tech.eu's 2025 Annual Report is our largest to date and packed with a comprehensive review of topics including investments, geographic and industry performance, top M&A and exit activities, insights and predictions from startups and VCs, and much more.

While there's plenty more information packed inside the full report, let's dive into some top-level items.

Key findings

€72 billion

In 2025, European tech investment reached €72 billion, positioning the year as the second-strongest of the past three years and reinforcing the market’s long-term growth despite a modest 3.2 per cent correction from 2024’s peak.

3740+ deals

2025 saw a steady stream of investments both in terms of the number of deals and the total amounts raised month-over-month.

UK on top

From a geographic view, 2025 saw little change in the top countries funded, with the UK retaining its lead position.

Fintech reins supreme in 2024

In 2025, fintech was the best-performing industry, with €11.1 billion raised over 397 rounds.

715 M&A and exit activities

In 2025, the number of exits increases to 715, compared with 648 in 2024, indicating a moderate recovery in exit activity.

While this is an improvement on the previous year, exit volumes remain below the 2023 level of 847, suggesting that 2025 reflects a stabilisation phase rather than a full return to earlier highs.

Pre-Seed and Seed investors drive deal flow in 2025

In 2025, the European tech ecosystem was supported by a balanced mix of public institutions, early-stage specialists, and global venture capital firms, creating a resilient and scalable funding environment.

Investors such as Bpifrance, CDP Venture Capital, and High-Tech Gründerfonds (HTGF) played a central role in backing innovation, particularly at early stages, while specialised pre-seed and seed investors, including Antler, SpeedInvest, and Seedcamp, led overall deal activity.

The entire Tech.eu 2025 Annual Report is now available for download.

Gain a deeper understanding of the European tech landscape and make informed decisions for your business with data-driven analysis, exclusive reports, and valuable research.

From all of us here at Tech.eu, we wish you a very happy, healthy, and prosperous 2026.