Weekly Startup Ecosystem Overview in Europe / December 11 – 15

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This week, more than 85 funding rounds took place in European entrepreneurship ecosystem. Here is the notable funding rounds and secondary transactions between December 11 – 15:


4 United Kingdom (UK), 2 France, 2 Germany, 1 Denmark, 1 Sweden

Secondary Transactions:

2 Netherlands

Sectors Received Investments:

4 Financial Services

1 E-Commerce

1 Artificial Intelligence / Enterprise Software

1 Architecture / Sustainability

1 Biotechnology

1 Software

1 Energy Storage

News of the Week

🎯 Financial services provider SumUp raised €285 million.

SumUp, which provides affordable and easy-to-use payment products and financial services to micro and nano businesses, has raised €285 million. The investment round was led by Sixth Street Growth, with participation from Bain Capital Tech Opportunities, FIN Capital and LIQUiDITY Group.

Transaction Type: Investment

Investors: Sixth Street Growth, Bain Capital Tech Opportunities, FIN Capital, LIQUiDITY Group

Co-founders: Jan Deepen, Marc-Alexander Christ

Headquarters: United Kingdom (UK)

🎯 Digital asset derivatives trading platform GFO-X raised $30 million.

GFO-X, a regulated and centrally cleared trading platform, has raised $30 million in Series B funding round from M&G Investments.

Transaction Type: Investment

Investors: M&G Investments

Co-founders: Arnab Sen, Sadiq Melwani

Headquarters: United Kingdom (UK)

🎯 B2B deferred payment infrastructure provider Aria raised €15 million.

Aria, which enables marketplaces, transactional SaaS & ERPs companies to offer instant payments to their providers while maintaining cash flow until their customer has paid, has raised €15 million. The investment round was led 13books Capital with participation from Adevinta Ventures, Ankaa Ventures, Otium Capital, Laurent Ritter, Mark Ransford and Guillaume Princen.

Transaction Type: Investment

Investors: 13books Capital, Adevinta Ventures, Ankaa Ventures, Otium Capital, Laurent Ritter, Mark Ransford, Guillaume Princen

Co-founders: Clément Carrier, Vincent Folny

Headquarters: France

🎯 Digital banking platform Meniga raised €15 million.

Meniga, which provides white-label personal finance management tools for banks and financial institutions, has raised €15 million in Series D funding round from Omega ehf, Groupe BPCE and Credito Agricola.

Transaction Type: Investment

Investors: Omega ehf, Groupe BPCE, Credito Agricola


Headquarters: United Kingdom (UK)

🎯 Wholesale e-commerce platform Qogita raised €80 million.

Qogita, which provides a wholesale ecommerce platform that connects buyers and sellers with a focus on the health and beauty sector, has raised €80 million in Series B funding round, led by Dawn Capital. Accel, LocalGlobe and Bessemer Venture Partners also participated in the investment round.

Transaction Type: Investment

Investors: Dawn Capital, Accel, LocalGlobe, Bassemer Venture Partners

Co-founders: Manolis Manassakis

Headquarters: United Kingdom (UK)

🎯 AI supply chain solutions provider Tacto raised €50 million.

Tacto, which optimizes procurement, ensuring compliance, sustainability, and efficient material sourcing for mid-sized industrial companies, has raised €50 million in Series A funding round. The investment round was led by Sequoia Capital and Index Ventures, with participation from Visionaries Club, Cherry Ventures and UVC Partners.

Transaction Type: Investment

Investors: Sequoia Capital, Index Ventures, Visionaries Club, Cherry Ventures, UVC Partners

Co-founders: André Petry, Johannes Groll, Nico Bentenrieder

Headquarters: Germany

🎯 Climate-neutral building renovation Ecoworks raised €40 million.

Ecoworks, which renovates apartment buildings using industrial prefabrication, modular construction and efficient energy systems, has raised €40 million in Series A funding round, led by World Fund. Haniel, KOMPAS VC and ISAI Cap Venture also participated in the investment round.

Transaction Type: Investment

Investors: World Fund, Haniel, KOMPAS VC, ISAI Cap Venture

Co-founders: Emanuel Heisenberg

Headquarters: Germany

🎯 Novel therapeutic proteins developer Hoba Therapeutics raised €23 million.

Hoba Therapeutics, a biotech company that develops novel therapeutic proteins for patients living with chronic neuropathic pain and hearing loss, has raised €23 million in Series B funding round, led by Indaco Venture Partners and Medical Incubator Japan. Novo Holdings, Eir Ventures and Export and Investment Fund also participated in the investment round.

Transaction Type: Investment

Investors: Indaco Venture Partners, Medical Incubator Japan, Novo Holdings, Eir Ventures, Export and Investment Fund

Co-founders: Kenneth Ahrend Petersen

Headquarters: Denmark

🎯 Consumer-grade procurement software Pivot raised €20 million.

Pivot, a consumer-grade procurement software that helps companies keep their spend under control while enhancing their teams, has raised €20 million in Series A funding round from Visionaries Club, Emblem, Anamcara and Oliver Samwer.

Transaction Type: Investment

Investors: Visionaries, Emblem, Anamcara, Oliver Samwer

Co-founders: Romain Libeau, Marc-Antoine Lacroix, Estelle Giuly

Headquarters: France

🎯 Zinc-ion battery developer Enerpoly raised $8.4 million.

Enerpoly, which develops an innovative zinc-ion battery technology from abundant materials, has raised $8.4 million from Swedish Energy Agency.

Transaction Type: Investment

Investors: Swedish Energy Agency

Co-founders: Mylad Chamoun, Samer Nameera

Headquarters: Sweden

🛒 Tax Systems acquires TaxModel.

Tax compliance software supplier Tax Systems has acquired  international tax software provider TaxModel.

Transaction Type: Acquisition

Investors: Tax Systems

Co-founders: Hank Moonen

Headquarters: Netherlands

🛒 BUX, acquired by ABN AMRO.

ABN AMRO has acquired neobroker BUX.

Transaction Type: Acquisition

Investors: ABN AMRO


Headquarters: Netherlands

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