Here's what happened today in European Tech.
- 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.
- 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.
Today's Top Tweets
The UK economy is being rewritten at scale & at pace.@wanderingvc has a great piece on how Revolut went from 2 ambitious founders we met in 2015 to a global fintech leader today: https://t.co/n7M8aAk3Fg
And this is going to happen in every single sector in the next decade. https://t.co/5LxKeES54T
— James Wise (@jpwiseuk) July 15, 2021
Welcome to Tech 28, our ranking of the power players behind Europe’s tech revolution.
— POLITICOEurope (@POLITICOEurope) July 15, 2021
Congratulations to the @AdaptiveMobile Security team on the sale to @EneaAB. The #5G portfolios are complementary. Bound to be some of ENEA's #DPI IPR & savvy that can augment Adaptive's #5G security roadmap too. Oh - and nice to see consolidation among European tech players. https://t.co/vq9RoYBtSE
— Patrick Donegan (@HardenStance) July 15, 2021
— Matthew Newman (@NewmanMLex) July 15, 2021
— Point Nine (@PointNineCap) July 15, 2021
📣 SCALE UP FOR EUROPE! 💥
— Tech.eu (@tech_eu) July 15, 2021
We’re delighted to announce that Nordic Capital, one of Europe’s leading specialised Technology & Payments investors, has agreed to invest in Duco and acquire a majority stake: https://t.co/ebQwVFebFU #fintech #technology
— Duco (@ducotweets) July 15, 2021
Tomorrow marks the 1-year annivesary of Europe’s top court throwing out EU-US data deal. In this week’s Digital Bridge, I explain why we’re still very far from getting a new deal done https://t.co/gfs5oqMP68
— Mark Scott (@markscott82) July 15, 2021
📣 #Japan Challenge for Society 5.0 – Accelerate Innovation with Japan!
Contest for #startups interested in collaboration to solve 3 challenges:
🍀 Environmental Friendliness
💪 Labor Shortage & Improving Productivity
💡 Smart & Resilient Japan
— Tech.eu (@tech_eu) July 15, 2021
An investment of €1.5M with the grant of €2.25M in #Positrigo 🇨🇭 will aid the development of their cutting-edge Positron Emission Tomography (PET) systems making PET examinations more affordable.
— Mariya Gabriel (@GabrielMariya) July 15, 2021
Average download speed in EU (Mbps) 🇪🇺⏬
— Digital EU 🇪🇺 (@DigitalEU) July 15, 2021
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