Today in European Tech: Revolut crowned UK’s most valuable tech firm in new round, HomeToGo’s $1 billion SPAC merger, and more

robin@tech.eu

Hello!

Here’s what happened today in European Tech.

Deals

British fintech firm Revolut has raised $800 million in a new funding round led by SoftBank and Tiger Global. Revolut, which offers banking and trading services through an app, is now valued at $33 billion.

HomeToGo, a travel tech startup focused on vacation rental price-comparison for consumers and software for property managers, announced its planned merger with blank-check company Lakestar SPAC I, via a regulatory filing in Germany. The planned $1.41 billion transaction, including debt, would give Berlin-based HomeToGo an enterprise value of $1.01 billion.

– Listed, UK-based e-learning giant Learning Technologies Group will acquire NYSE-listed GP Strategies for $394 million.

Berlin-based LIQID, a European digital wealth manager for affluent private clients, has secured a €88 million funding round led by LGT, the global private banking and asset management group owned by the Princely House of Liechtenstein.

– Billing itself as “the Shopify for online courses,” Cyprus-based LearnWorlds has seen the demand for its offering skyrocket overnight. Building on a 3x growth rate, the firm has raised $32 million via Insight Partners.

– Nordic Capital acquired a majority shareholding in no-code data automation software company Duco from current investors, CME Ventures, Insight Partners and Eight Roads Ventures.

– 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

– Venture funding to startups in Europe totalled an unprecedented $59 billion in H1 2021, Crunchbase data shows.

– NortonLifeLock is reportedly in talks to buy Prague-based, London-traded cybersecurity firm Avast in a multi-billion dollar deal that would expand the US company’s focus on consumer software.

– A key clause in EU copyright rules complies with the bloc’s regulations, an adviser to Europe’s top court said, dealing a blow to Poland which had brought the legal challenge. Adopted two years ago, the landmark rules seek to ensure a level playing field between the European Union’s trillion-euro creative industries and online platforms.

Israeli cybersecurity company IntSights is reportedly in advanced negotiations to be acquired for a sum of around $350-400 million by American cybersecurity company Rapid7.

Italy’s financial regulator, CONSOB, said Binance is not authorized to provide investment services in the country.

– In a strong show of support for the local ecosystem, the Bavarian State Government has announced a new €200 million scale-up fund to be managed by Bayern Kapital.

– Aachen, Germany-based Next.e.GO Mobile, a battery-electric car manufacturer, announced that it has entered into an agreement in Bulgaria to build a new €140 million micro-factory in Lovech.

Klein Vision, a Slovakian company, is all set to make flying cars both reality and commercial.

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