Here’s what happened today in European Tech.
– Amsterdam’s bunq has closed a record-breaking European fintech Series A round at €193 million. This now gives the neobank a valuation of €1.6 billion. Not too bad for a company that until this announcement had remained bootstrapped by its founder Ali Niknam for close to a decade.
– French startup Younited Credit has raised a $170 million funding round. Goldman Sachs is leading the round with existing investors Eurazeo, Bpifrance and AG2R La Mondiale also participating. The company offers several credit products to European consumers.
– Berlin-based photovoltaic systems provider Enpal has closed a €100 million funding round with the goal of becoming the energy supplier for the 21st century.
– Swiss Post, the former state-owned mail delivery firm which became a private limited company in 2013, diversifying into logistics, finance, transport and more while retaining its role as Switzerland’s national postal service, has acquired a majority stake in Swiss-Hungarian startup Tresorit, a European pioneer in end-to-end-encrypted cloud services.
– 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.
– Washington told the EU not to tax its tech giants. So Brussels is making plans to tax everyone instead. The European Commission is eyeing a 0.3 percent tax on the goods and services sold online by companies operating in the EU with an annual turnover of €50 million or more, officials briefed on the plans told POLITICO.
– Stellantis, the automaker born out of a merger between Fiat Chrysler Automobiles and French automaker Groupe PSA, will invest €30 billion in electric vehicles and new software over the next four years as part of a major push to transition away from internal combustion engines.
– Wise’s record-breaking direct listing has come as a relief to other tech firms aiming to go public in the coming months, the bankers managing those deals and to post-Brexit London.
– Northzone backed Na-Kd, one of Sweden’s fastest growing online retailers, is “getting ready to raise funds on the stock market by convincing ethically-conscious investors that fast fashion can be sustainable”.
– Fintech companies based in London raised more funding from VC investors in the first six months of 2021 than in any other year, demonstrating the British capital’s resilience as a hub for digital financial services post-Brexit.
– Investors find European unicorns reluctant to join the SPAC boom.
– Grocery delivery scale-up Getir hopes to double its workforce of 1,500 and operate in up to 15 cities by the end of 2021.
– Kat Borlongan has stepped down as director of the ‘French Tech Mission’.
– US-based digital consumer goods company that acquires private label Amazon FBA businesses and direct-to-consumer e-commerce brands, Thrasio has announced the appointment of Amazon vet Georg Hesse as Vice-President UK, DE.
– Swedish video streaming tech firm Bambuser announced their participation in La Maison des Startups, an accelerator program created by LVMH.
– Sweden’s Voi is launching the world’s first large-scale pilot of computer vision on e-scooters in the UK city of Northampton. The AI technology can detect when an e-scooter leaves the road and rides on a pavement, as well as if the vehicle is parked correctly.
– The University of Cambridge has produced more graduate founders than any other UK university, new research reveals.
Today’s Top Tweets
— Kat Borlongan (@katborlongan) July 8, 2021
So this year alone I’ve covered Plum, Freetrade, MoneyLion, Brex, Trade Republic and now N26 all planning expansions into crypto trading or rewards. All ‘non-crypto’ fintechs up to this point.
How long till holdouts Monzo, Starling, etc. fall into line? https://t.co/kXlRT0OYco
— Ryan Weeks (@RyanJamesWeeks) July 7, 2021
It’s not an official Estonian celebration without a heist . As neighbours we were happy to help.
— Markus Villig (@villigm) July 8, 2021
Brilliant report by @yoramdw & @dealroomco team on how tech entrepreneurship is becoming a viable engine of growth & jobs. FR, DE, Sweden, Netherlands & UK startups have raised more in the first half of 2021 than in any other full year period. Go Europe! https://t.co/39W8s4HFTd
— Gerard Grech (@gerardgrech) July 8, 2021
Amazon’s new CEO, Andy Jassy, is about to inherit plenty of legal trouble — with a big chunk of it coming from Europe.
Mr. Jassy, if you’re reading this, we’ve got you covered. Here are the most pressing threats to the larger business https://t.co/JQT3q3m3PI
— POLITICOEurope (@POLITICOEurope) July 8, 2021
#Podcast suggestion time: are you a European #founder looking to successfully scale in our continent? @tech_eu‘s @robinwauters interviews @HannoRenner, the CEO & Co-Founder of European HR-Tech unicorn @PersonioHR.
Listen to the episode here: https://t.co/rV863wAn2m
— BRIDGE IN (@BridgeInPt) July 8, 2021
When I worked for https://t.co/oqQwQ4kpel, I saw domains everywhere and I used to criticise a lot. That’s how @sensorpunk sees photography. The thing is that even if I don’t see photos like he does, I can “see” them, I can feel something is wrong.
#branding #photo #domains https://t.co/NtPJFZH338
— Natasa Lakovic Djukanovic (@natasad) July 8, 2021
Our IPO offer closes soon ⏰ We’ve partnered with @PrimaryBid to open access to early stage VC investing. It’s an exciting moment – the market in London is growing faster than the next three European cities combined.
Join us ➡https://t.co/brqMUDhjXu
⭐️CAPITAL AT RISK⭐️
— Forward Partners (@ForwardPrt) July 8, 2021
U-turn alert: the government now plans to review Nexperia’s dirt cheap acquisition of Newport Wafer Fab pic.twitter.com/r26OMqj1WX
— Sam Shead is o.o.o (@Sam_L_Shead) July 8, 2021
Want to come work/live in France? See here https://t.co/gUPa7nXDRG
— Roxanne Varza (@roxannevarza) July 8, 2021
The journeys of successful start-ups always seems easy in hindsight. Below the look of my traveling mattress for my first start-up which we sold for €45mn. More pic.twitter.com/vjRxvghOz9
— Niklas Oestberg ♂️ ♀️ (@niklasoestberg) July 8, 2021
French competition authority timeline, according to @IsabelleDeSilva (1/2)
▶️Google/press publishers: Decision on respect of interim measures in coming days +on abuse of economic dependence by year end
▶️Apple/French adtech: Assessment of self-preferencing on privacy by year end
— Laura Kayali (@LauKaya) July 8, 2021
New from me: The UK’s crackdown on Binance is boosting the cryptocurrency exchange’s rivals.
Bitstamp and Kraken have both reported a doubling in UK users in recent weeks.
“It’s a flight to safety,” @julian_sawyer tells me.
More here: https://t.co/RUV3JaJkJC
— Ryan Browne (@Ryan_Browne_) July 8, 2021
More ambitious Baltic founders: announcing our investment in Spain-headquartered @promosappes together with angels incl. @waldec @slimas. Unparalleled AI-driven crowdsourced retail purchasing data for brands and retailers. #LTStartups #grocery #ai #data #BusinessIntelligence https://t.co/yOwWlRSt5w
— Change Ventures (@changeventures) July 8, 2021
Thrilled to share the @Lilium passenger experience with you “Our 7-Seater Lilium Jet is specifically designed to maximise passenger comfort. Passengers will experience low noise and low vibration in the cabin, creating a comfortable and pleasant experience whatever the journey pic.twitter.com/93ODyLVUl2
— Frank Thelen (@frank_thelen) July 8, 2021
Big news from Kantox today as we announce the expansion of our partnership with @SVB_financial into the US market!
— Kantox (@kantox) July 8, 2021
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