The European startup scene is constantly evolving, with new companies emerging and established ones seeking funding to grow their businesses. To keep up with the latest developments, it’s important to stay informed about the funding rounds taking place each week. In this article, we’ll provide a comprehensive overview of the funding rounds tracked for the week of March 20-24.
Seed Rounds
Seed rounds are typically the first funding round for a startup, and they’re used to help get the company off the ground. During this round, startups typically raise between €100,000 and €2 million. Here are some of the seed rounds that took place during the week of March 20-24:
– Berlin-based startup Finoa raised €2.2 million in a seed round led by Coparion and joined by Venture Stars, Signature Ventures, and others. Finoa provides custody and asset servicing solutions for institutional investors in digital assets.
– French startup Kard raised €3 million in a seed round led by Founders Future and joined by Kima Ventures, Jean-Pascal Beaufret, and others. Kard offers a mobile banking app designed for teenagers.
– London-based startup Sylvera raised £850,000 in a seed round led by Cambridge Enterprise and joined by Innovate UK and others. Sylvera uses satellite data to measure carbon emissions from forests.
Series A Rounds
Series A rounds are the next step up from seed rounds, and they’re used to help startups scale their businesses. During this round, startups typically raise between €2 million and €10 million. Here are some of the Series A rounds that took place during the week of March 20-24:
– Barcelona-based startup Factorial raised €15 million in a Series A round led by CRV and joined by Creandum, Point Nine Capital, and K Fund. Factorial provides HR software for small and medium-sized businesses.
– London-based startup Cazoo raised £100 million in a Series A round led by General Catalyst and joined by Mubadala Capital, Octopus Ventures, and others. Cazoo is an online platform for buying and selling used cars.
– Paris-based startup Alan raised €50 million in a Series A round led by Index Ventures and joined by DST Global, Xavier Niel, and others. Alan provides health insurance for individuals and companies.
Series B Rounds
Series B rounds are used to help startups expand their businesses even further. During this round, startups typically raise between €10 million and €30 million. Here are some of the Series B rounds that took place during the week of March 20-24:
– London-based startup Onfido raised $50 million in a Series B round led by SBI Investment and joined by Salesforce Ventures, Idinvest Partners, and others. Onfido provides identity verification software.
– Berlin-based startup Wefox raised €110 million in a Series B round led by OMERS Ventures and joined by Merian Chrysalis, Mubadala Capital, and others. Wefox is an insurance platform that connects customers with insurance providers.
– Paris-based startup Back Market raised €110 million in a Series B round led by General Atlantic and joined by Eurazeo Growth, Aglaé Ventures, and others. Back Market is an online marketplace for refurbished electronics.
Conclusion
The European startup scene is thriving, with new companies emerging and established ones seeking funding to grow their businesses. The funding rounds tracked for the week of March 20-24 demonstrate the diversity of the European startup ecosystem, with startups from a range of industries and countries raising seed, Series A, and Series B rounds. By staying informed about the latest funding rounds, investors and entrepreneurs can gain valuable insights into the trends shaping the European startup scene.
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- Source: Plato Data Intelligence: PlatoData