Today in European Tech: Wise confirms direct listing plans, JPMorgan Chase to buy Nutmeg, Bunq valued at $2 billion, and more

robin@tech.eu

Hello!

Here’s what happened today in European Tech.

Deals

Wise, the UK payments group formerly known as Transferwise, has confirmed plans to go public in what will be the first direct listing of a tech firm in London. The company said it has been profitable since 2017 and sales hit £421 million this year. The float could reportedly value the company at as much as £9 billion.

– Subject to regulatory approval, JPMorgan Chase, the fourth-largest bank on the planet (in total assets) has confirmed its intent to acquire London’s longtime fintech player, Nutmeg. Founded in 2011 by Nick Hungerford and William Todd, Nutmeg has a customer base of over 140,000 investors with over £3.5 billion of assets under management.

Netherlands-based challenger bank Bunq has agreed on the terms of €160 million in investment by a British private equity firm, valuing the Dutch business at $2 billion.

London’s talent acquisition, engagement, and retention platform Beamery has raised $138 million in Series C funding led by the Ontario Teachers’ Pension Plan Board (Ontario Teachers’), through its Teachers’ Innovation Platform (TIP).

– VTB-Capital, a division of the Russian state bank VTB, is in the process of acquiring a 15% stake in the Delimobil car-sharing service. VTB Capital will pay $75 million for the Delimobil stake, which values the company at $500 million.

Swedish podcasting tech company Acast went public today, but it was a rough landing.

London-based accident and disaster recovery platform Tractable has raised $60 million in a Series D funding round led by Insight Partners and Georgian.

– Antwerp/Amsterdam’s Fortino Capital has closed its second venture capital fund at €105 million.

Israeli fintech company Unit today announced the completion of a $51 million Series B financing round led by Accel and with the participation of existing investors Better Tomorrow Ventures, Aleph, Flourish Ventures, and TLV Partners.

– Akur8, who uses a proprietary “Transparent AI” to automate insurance pricing, has landed $30 million from BlackFin Capital and MTech Capital in order to help actuaries and pricing teams make better, faster decisions.

Bulgaria has a new early and growth-stage fund in Vitosha Venture Partners. Based in Sofia, the €26 million fund aims to support companies that are based in, or related to Bulgaria.

Open payments gateway Volt has raised $23.5 million to fuel global expansion plans as well as further product development efforts.

– It’s a banner day at Berlin’s coliving platform Habyt, as they’ve closed a Series B round totaling €20 million, and have announced their third acquisition in six months, this time Frankfurt’s homefully.

– 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 Reading/Knowing

– Here’s how the European Commission intends to ‘greenify’ innovation with €14.7 billion worth of research funds.

Wise’s unconventional listing is big test for London.

– Russian lawmakers passed legislation on Thursday that would oblige US tech giants to open offices in Russia by January 2022 or face punitive measures, part of a push by Russia to beef up what it calls internet “sovereignty”.

– Deeptech Labs is a newly launched accelerator based in Cambridge that seeks to position post-seed stage deeptech startups from across the UK and Europe before leading deeptech investors.

– Tech.eu Podcast: Building company culture, remotely — with Valerie Krämer and Rebecca Görres, Remi

– Ukraine’s parliament recently passed a billthat imposes additional taxes on foreign tech companies like Apple, Netflix, Amazon and Facebook.

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