Weekly Startup Ecosystem Overview in Europe / April 29 – May 3

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This week, more than 70 funding rounds took place in European entrepreneurship ecosystem. Here is the notable funding rounds and secondary transactions between April 29 – May 3:


2 United Kingdom (UK), 1 Denmark, 1 Estonia, 1 Belgium

Sectors Received Investments:

1 Financial Services

1 Accounting

1 GreenTech & Renewable Energy

1 Cloud Security

1 Insurance

News of the Week

🎯 Financial services provider SumUp raised €1.5 billion.

SumUp, a financial technology company that enables businesses to accept card payments at the point of sale or on the go, has raised €1.5 billion from Goldman Sachs.

Transaction Type: Investment

Investors: Goldman Sachs

Co-founders: Jan Deepen, Marc-Alexander Christ

Headquarters: United Kingdom (UK)

🎯 Cloud-based accounting software Ageras raised €82 million.

Ageras, an online marketplace for accounting, bookkeeping, and tax preparation services, has raised €82 million in private equity round from Lazard Asset Management, Investcorp and Folketrygdfondet.

Transaction Type: Investment

Investors: Lazard Asset Management, Investcorp, Folketrygdfondet

Co-founders: Martin Thorborg, Rico Andersen

Headquarters: Denmark

🎯 Green hydrogen solutions provider Stargate Hydrogen raised €42 million.

Stargate Hydrogen, which offers turn-key electrolysis solutions for the production of green hydrogen with renewable energy, has raised €42 million in Seed funding round, led by UG Investments and IPCEI.

Transaction Type: Investment

Investors: UG Investments, IPCEI


Headquarters: Estonia

🎯 Security platform Aikido raised $17 million.

Aikido Security, which provides a unified platform for code and cloud security, simplifying vulnerability management for developers, has raised $17 million in Series A funding round. The investment round was led by Singular, with participation from Notion Capital and Connect Ventures

Transaction Type: Investment

Investors: Singular, Notion Capital, Connect Ventures

Co-founders: Roeland Delrue, Felix Garriau, Willem Delbare

Headquarters: Belgium

🎯 Insurance technology startup Urban Jungle raised £11.2 million.

Insurtech startup Urban Jungle has raised £11.2 million from Existing investors include Intact Ventures, Ingka Investments, Mundi Ventures, Eka Ventures and Sony Innovation Fund.

Transaction Type: Investment

Investors: Intact Ventures, Ingka Investments, Mundi Ventures, Eka Ventures, Sony Innovation Fund

Co-founders: Greg Smyth, Jimmy Williams

Headquarters: United Kingdom (UK)

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