Hello!
Here is what happened today in European tech:
Deals
- Liberis, a London-based company that helps small businesses get the financing they need, has secured £70 million in financing for itself. The mix of equity and debt comes from long term partners British Business Investments, Paragon Bank, BCI Europe, as well as new partner Silicon Valley Bank (SVB).
- Australian communication platform Dubber has acquired UK-based mobile recording startup Speik for $38 million, if performance milestones are met.
- The European Investment Bank has signed a €20.7 million loan agreement with Danish hydrogen innovator Everfuel, to scale up and commercialise hydrogen production for use as an alternative fuel for public and heavy-duty fuel cell vehicles.
- Deliveristo, an online marketplace connecting restaurant owners and food suppliers, has closed a €4.5 million Series A investment round led by United Ventures. The equity investment completes a deal that began this past July, with a pool of other Italian investors including IAG, Gellify, Doorway, Seven Moratti and Metrica.
- UK-based events business Hyve Group has acquired digital event business Retail Meetup for an initial consideration of £18.8 million.
Alexis, a Stockholm-based SaaS company that offers medium-sized companies people management software, has raised €1.2 million in a seed funding round led by Alliance Venture, paving the way for new hires and further scaling in the Nordics.
- 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.
Worth Knowing
- Italy's data protection regulator has initiated formal proceedings against TikTok alleging that the Chinese-owned video sharing app violates privacy, especially of minors.
- UK-based banking technology group 10x Future Technologies, founded by former Barclays chief executive Antony Jenkins, is plotting a $100 million fundraising next year as a springboard to the further expansion of its international operations.
- Tech exits were boosted in 2020 by a record year for IPOs. According to the PwC Israel report on tech exits for 2020, there were far fewer deals, only 60 compared with 80 in 2019, but their cumulative value rose 55% to $15.4 billion, from $9.9 billion in 2019.
- Deliveroo’s losses ballooned to £317.7 million in 2019, up by a third from than the previous year, as the food delivery company grappled with competition and regulatory scrutiny before the pandemic boosted it to profitability.
- Analysis: From famine to feast, investment in European tech startups roars back (FT)
- 10 standout European deals that shaped 2020 (PitchBook)
- The 4 firms taking on Klarna in 2021.
- Neobank Revolut is partnering with Belgian insurtech startup Qover to provide an embedded insurance solution to subscribed account holders. The announcement comes just after Revolut shook up its subscription plans, adding in a mid-tier option, ‘Plus’.
- Russia's federal anti-monopoly service (FAS) has accused hotel reservation website Booking.com of violating anti-monopoly law, the regulator said.
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