This week in European tech: Revolut’s $ 33 billion valuation, Permira’s € 1.9 billion bet on Adevinta, HomeToGo’s SPAC deal
This week, our research team tracked more than 120 funding deals worth over 4.8 billion euros and more than 10 exit deals across Europe, including Russia, Israel and the United States. Turkey.
As always, we put them all together for you in a handy list sent in our summary newsletter (note: the full list is for paying customers only).
Recently, we have also started publishing “Today in European Technology”, a daily summary of offers and news that caught our attention. Keeping you up to date with all things European technology is our priority!
Today, instead of a daily rundown, we’re giving you an overview of the 10 biggest European tech news from the past week (sign up for our free newsletter to get this rundown delivered to your inbox every Monday morning) .
1) Revolut targets stars with a valuation of $ 33 billion to boot
British FinTech Revolut raised $ 800 million in a new round of funding led by SoftBank and Tiger Global. Revolut, which offers banking and trading services through an app, is now valued at $ 33 billion.
#Fintech the wave of funding continues:
Digital bank Revolut is now Britain’s most valuable fintech at $ 33bn after $ 800m Series E announced this morning
– SoftBank Vision Fund 2, Tiger Global Management = new investors
– 16M customers@Ryan_Browne_ https://t.co/Ho20HbW3nz
– Kate Rooney (@ Kr00ney) July 15, 2021
2) eBay sells most of its shares in Adevinta in Permira
The Power of Private Equity Permira has announced a strategic investment in Norway’s online classifieds juggernaut Adevinta, by buying around 125 million shares of the company from eBay – or 10.2% of the capital – for a total price of 1.9 billion euros.
Private equity central Permira announced a strategic investment in Norwegian online classifieds giant Adevinta, buying around 125 million shares of the company from eBay – a 10.2% stake – for a total price of 1.9 billion euros.https: // t .co / fLHxyRu2aR pic.twitter.com/6z9XJ3KWkY
– Tech.eu (@tech_eu) July 14, 2021
3) PSPC deal brings HomeToGo valuation to over $ 1 billion
HomeToGo, a travel technology startup Focused on comparison of vacation rental prices for consumers and software for property managers, announced its plan to merge with blank check company Lakestar SPAC I, via regulatory filing in Germany. The planned $ 1.41 billion deal, including debt, would give Berlin-based HomeToGo an enterprise value of $ 1.01 billion.
Breaking: HomeToGo, a travel startup focused on comparing vacation rental prices for consumers and software for property managers, revealed its plans to merge with blank check company Lakestar SPAC I. the company: 1.01 billion dollars / 861 million euros https: // t .co / BzdfRM3Bh4
– Sean O’Neill (@sean_oneill) July 14, 2021
4) CarNext launches with 400 million euros in cash costs
Amsterdam-based CarNext, an online B2C and B2B used car marketplace, announced its exit from LeasePlan with € 400 million in new financing.
We are delighted to welcome Sophie Krishnan to the CarNext team as CEO. She joins us at an important moment in our career, as an independent company ready to accelerate its growth. Learn more here: https://t.co/lda8A7zJyv pic.twitter.com/A0QTaqu38s
– CarNext.com (@carnextcom) July 15, 2021
5) Nordic fintech star Lunar signs € 210m funding deal
Danish bank digital challenger Lunar raised € 210 million in a Series D funding round led by family-owned investment firm Heartland, alongside European growth investor Kinnevik and Chinese tech giant Tencent.
Danish bank digital challenger @banquelunaire secured $ 249 million (€ 210 million) in Series D funding. https://t.co/mdFymkhAOE
– Finovate (@Finovate) July 12, 2021
6) Cyber Security Firm Cybereason Scores $ 275 Million To Drive Growth
Israeli cybersecurity company Cybereason raised $ 275 million in a funding round led by Steve Mnuchin’s new Liberty Strategic Capital fund.
I’m excited to report that we’ve secured a $ 275 million cross-fund round for Cybereason. This latest round of investment will fuel and accelerate our hypergrowth in the market. https://t.co/ok1hu0ZHSH pic.twitter.com/mOG786kbgy
– Lior Div (@liordiv) July 14, 2021
7) Quantexa Almost A Unicorn Following $ 153 Million Fundraiser
London-based financial crime fighter Quantexa just raised $ 153 million in Series D funding provided by Warburg Pincus and an undisclosed blue chip investor award.
UK Anti-Fraud Firm Quantexa Moves Towards Unicorn Status After $ 153 Million Funding https://t.co/e3pwPG1L8C pic.twitter.com/kMAjAuL2rC
– City AM (@CityAM) July 13, 2021
8) European tech company RH Remote secures $ 150 million funding round
Remote HR Tech platform raised $ 150 million in a Series B round led by Accel with participation from existing investors including Sequoia, Index Ventures, Two Sigma, General Catalyst and Day One Ventures. If that list of contributors wasn’t impressive enough, to date Remote has achieved unicorn status with a valuation of over $ 1 billion.
With a global infrastructure of legal entities in over 50 countries, @ remote brings a fintech game to streamline international payroll by launching an API that gives businesses the ability to seamlessly integrate these services into their own platforms @tnatw https://t.co/bUrGW48IbH
– Aaron_S (@IamAaronSmith) July 13, 2021
9) British fintech scale-up Tide raises more than $ 100 million
UK business banking platform Tide has raised over $ 100 million in Series C funding at a valuation of $ 650 million. The round was led by Apax Digital, the Growth Equity team of Apax Partners.
We are delighted to announce that we have raised just over $ 100 million in Series C funding, led by @ApaxDigital.
We will use the funds to continue to develop our corporate financial platform, grow our team and expand internationally. https://t.co/dR2Eq9In0d
– Tide (@TideBusiness) July 12, 2021
10) UK mortgage lender LendInvest (quietly) went public
Actions of UK based non-bank mortgage lender LendInvest rose as much as 10% at the start of trading on Wednesday as the company began trading on the London Stock Exchanges Junior AIM, implying a market cap of £ 281.7million.
Today is a monumental day for the team, and it is one more step towards achieving our goal of simplifying real estate financing. pic.twitter.com/jKs4oKXdaj
– LendInvest (@LendInvest) July 14, 2021
Programming tools for teenage girls – with Dora Palfi, imagiLabs
Bonus link (s):
– France’s antitrust watchdog fined Google 500 million euros for failing to comply with the regulator’s orders on how to conduct discussions with the country’s news editors in a row about copyright.
– Venture capital financing for startups in Europe totaled an unprecedented $ 59 billion in the first half of 2021, the Crunchbase data is displayed.
– Google will seek to cancel a record fine of 4.34 billion euros in the EU during a five-day hearing in September before Europe’s second-highest court, people familiar with the matter told Reuters.
– The head of the German competition watchdog has criticized the draft EU technical regulation, claiming that they are too “narrow” and risk failing to detect future anti-competitive behavior from companies such as Google and Facebook.
– Israeli tech shows no signs of slowing down, showing a sharp increase in capital raising in the second quarter of 2021, according to data released by the IVC Research Center and law firm Meitar.
– Insurtech in Europe – H1 2021 review: 1.7 billion euros were invested in 52 transactions, more than in 2019 and 2020 combined.
– The European Central Bank has announced that it is starting to work for create a digital currency in euros as more and more consumers give up cash.