This week, our research team tracked nearly 90 tech funding deals worth more than €1.6 billion, and about 25 M&A transactions, rumours, and related news stories across Europe, including Russia, Israel, and Turkey.
As always, we are putting all of them together for you in a handy list sent in our round-up newsletter (note: the full list is for paying customers only).
Recently, we also started publishing 'Today in European Tech', a daily round-up of deals and news stories that caught our attention. Keeping you updated on all things EU tech is our priority!
Today, instead of a daily round-up we give you an overview of the 10 biggest European tech news items for the past week (subscribe to our free newsletter to get this round-up in your inbox every Monday morning).
1) Klarna set to be valued at $31 billion as business grows
Swedish payments scale-up Klarna is close to finalizing a $1 billion funding round that would give it a valuation of $31 billion. The ‘buy now, pay later’ company this week reported a 40% increase in net operating income in 2020, helped by its expansion in the US and a couple of other markets, breaking the $1 billion income threshold for the first time.
Bloomberg and CNBC are reporting the same valuation sources told Finance Forward a week ago but apparently Klarna is raising $1b, not 500 million. Which is quite impressive. https://t.co/YYav0LTenQ
— John Stanley Hunter (@JohnStanHunter) February 25, 2021
2) Lakestar successfully listed its SPAC in Frankfurt
Star investor Lakestar's SPAC rose as it started trading in Frankfurt after raising €275 million in Europe’s largest-ever listing of a blank-check company focused on technology acquisitions.
Lakestar SPAC gains in largest Europe Tech-Focused blank-check debut. Shares traded at 11.30 on Frankfurt Stock Exchange, compared w/issue price of €10 per unit. It sold 27.5mln units. Lakestar is 3rd blank-check firm ever to list in Germany and the first since 2010, BBG writes. pic.twitter.com/eyFo9xnWms
— Holger Zschaepitz (@Schuldensuehner) February 22, 2021
3) Israel's MyHeritage acquired for $600 million+
US private equity giant Francisco Partners is acquiring Israel-based genealogy company MyHeritage. The companies didn't disclose the sum of the acquisition, but the deal is believed to be valued at $600 million and it may even increase further.
These are the big names that benefited from @MyHeritage's $600 million sale.
Some of the Israeli investment scene’s major players will take home handsome portions of the acquisition by Francisco Partners.https://t.co/OXNlnJo30K
— CTech (@Calcalistech) February 25, 2021
4) Well-known Euro entrepreneurs and investors filed for US SPAC listing
Filed! A couple of German entrepreneurs led by HelloFresh co-founder and CEO Dominik Richter are teaming up with a UK-based technology investor and dealmaker to list a $300 million SPAC in the US.
More European SPACs now announced almost daily - Tio Tech A, a Europe tech-enabled SPAC led chaired by HelloFresh CEO Dominik Richter, filed for a $300 million IPO. https://t.co/Eg7wRWZuAk
— Eze Vidra (@ediggs) February 23, 2021
5) France's Serena bagged more than €300 million for its latest fund
French VC firm Serena has launched a new fund, Serena III, bringing the company’s available capital for early-stage and Series A startups to more than €300 million.
Today in The French Tech Journal (@FRTechJournal): Talking to Xavier Lorphelin (@xlorphelin) about @serenavc's new $300 million venture fund and how their operations team works with startups. https://t.co/r0oLXWq6Xy
— Chris O'Brien (@obrien) February 23, 2021
6) Shell takes over virtual power plant operator Next Kraftwerke
Subject to regulatory approval, Shell is to acquire all shares in German digital utility company Next Kraftwerke, buying from VC investors including High-Tech Gründerfonds (HTGF) and Neuhaus Partners, as well as investors Dirk Freise and Martin Ostermayer. The deal reportedly values the company at €130 million.
— HTGF (@HTGF) February 25, 2021
7) Apax returns as an idealista investor with €250 million injection
Apax Partners, the majority owner of Spanish online real estate classifieds platform idealista until EQT acquired the company for €1.3 billion, has re-invested in the business, coughing up €250 million for a 17% stake.
A European tech story:
2015: Apax buys Spanish online classifieds platform firm idealista at a reported €150 million valuation.
2020: EQT buys the majority of the company from Apax for €1.3 billion.
2021: Apax re-invests in idealista, paying €250 million for a 17% stake. https://t.co/zntyNxxZsv
— Robin Wauters @ Tech.eu (@robinwauters) February 24, 2021
8) Spain's Wallapop scored €157 million in fresh funding
Wallapop, a virtual marketplace based out of Barcelona, has raised €157 million at a valuation of €690 million. The funding was led by Korelya Capital, a French VC fund backed by Korea’s Naver, with Accel, Insight Partners, 14W, GP Bullhound and Northzone — all previous backers of Wallapop — also participating.
— Dídac (@DidacLee) February 25, 2021
9) Brandwatch was acquired by Cision for $450 million
UK-based Online consumer intelligence and social media listening platform Brandwatch has been acquired by Cision, best known for its media monitoring and media contact database services, for $450 million, in a combined cash and shares deal.
😱 Watching the evolution of @Brandwatch will never get boring. Merged with Crimson, acquired Qriously, the leader in Forrester’s, investing in DEI & belonging,...
— Felix Heck (@daheqcom) February 26, 2021
10) Fastned nabbed €150 million in funding to boost growth of its EV charging network
Fastned, the Amsterdam-based company that’s been developing fast charging infrastructure for electric vehicles across Europe since 2012, has raised €150 million though an accelerated bookbuild offering to boost its growth.
Good Morning! We successfully raised 150 mln euro 🚀 through an accelerated bookbuild offering! With these funds we will be able to expand and enhance our network. More information: https://t.co/zg01m6ayAQ
— Fastned (@Fastned) February 26, 2021
Tech.eu Podcast #208: Bodyguard against toxicity, no SPACs for Klarna, gig economy in Europe, and more
- Fintech innovation, open banking, fraud and bubbles: an interview with Maxpay CEO Artem Tymoshenko
- So you’ve got an idea for a startup, but no technical chops? Don’t let that stop you