Categories: Tech News

This week in European tech: Wise signs $300 million debt financing deal, eToro buys Bullsheet, fund for female founders and more

This week, our research team tracked more than 80 technological financing offers worth more 1,200 million eurosand more 5 exits, M&A transactions, rumorsand related news across Europe.

As always, we’re putting them all together in a list sent in our summary newsletter next Monday (note: the full list is for paying customers only, and also comes in the form of a handy downloadable spreadsheet).

We also have news for you: we are already preparing the second edition of the Summit! Save the date:

Tickets are now on sale.

If you haven’t seen them yet, we’ve made all the videos from last May’s Summit available as a playlist on our YouTube channel – enjoy!

That said, let’s get down to business with the biggest European tech news of the last few days (subscribe to our free newsletter to get this roundup delivered to your inbox).


>> Notable and large funding rounds

Stockholm-based startup H2 Green Steel has secured backing for the €3.5 billion in debt financing it needs to build a hydrogen-powered steel plant in northern Sweden.

Global money transfer firm Wise has secured £300m in debt funding to support its future growth plans. The syndicated debt facility was arranged and led by Silicon Valley Bank UK with six other banks also participating.

London-based Immersive Gamebox (IGB – formerly Electric Gamebox) has announced that it has signed franchise agreements worth $90 million that will see the company expand globally over the next three years.

s’ Hertogenbosch, Netherlands-based Floryn, an online lending marketplace for small and medium-sized businesses, has raised €65 million from London-based retail banking firm NatWest.

British global payment solutions expert CloudPay has raised a new $50 million capital round as it posts strong growth as demand continues for global cloud-integrated payroll and payments services.

Shippeo, a French SaaS platform that provides supply chain visibility, has taken $40 million in Series D cargo, which now brings the ship’s tonnage to $107.9 million.

Axelera, the Eindhoven-based maker of “powerful and advanced AI solutions at the edge,” has raised $27 million in a Series A round.


>> Notable acquisitions, mergers, IPOs and SPAC transactions

eToro has acquired Lisbon-based Bullsheet, a provider of portfolio management tools designed exclusively for eToro users. The purchase price has not been disclosed.

Worldline has moved to acquire a 55% stake in, a Warsaw-based fintech that turns Android devices into secure payment terminals.

Visma, a European leader in cloud software, has acquired OutSmart, a provider of field service management software for small and medium-sized businesses. OutSmart is based in the Netherlands and also operates in Belgium, Germany and Portugal.

Swiss is buying German dating app


>> Interesting moves by investors

Poland’s Market One Capital has just raised its second fund, of €80 million, to invest in more early-stage network and European market startups.

Female Founders has announced the launch of its F Fund, developed to support pre-seed and seed initiatives with at least one woman on the founding team. The first closing of the venture capital fund exceeded 12 million euros.

SEB Greentech Venture Capital, the bank’s green technology investment unit, has so far invested in five companies. The unit has now received a doubling of its investment capital and is increasing its ambition to find investments in the Nordic region and Europe.

Redstone and EnjoyVenture have joined forces to create Human Impact Capital (HIC), Germany’s first dedicated social impact venture capital fund of $50 million.

Station F, the iconic startup campus in Paris, is completely revamping its Founders Program into an accelerator program.


>> In other (important) news.

Google’s Play Store is the target of an EU antitrust investigation, the company said in a regulatory filing, a move that could expose the US tech giant to another billion-euro fine.

Bill Gates has backed a new coalition of eight European cleantech companies, which have come together to raise all boats in putting Europe in the driver’s seat when it comes to achieving net zero goals .

The European Union is preparing rules that would force eurozone banks to offer instant payments in euros.

Furniture e-commerce company has temporarily suspended new customer orders after talks with potential buyers broke down.

Another victim of the crisis: the German e-commerce company has died.

Wise plans to launch its asset investment service across Europe after obtaining a license in Estonia.

Online car marketplace Cazoo has announced a record quarter in the UK, with its highest ever revenue and sales amid its withdrawal from European markets.

UK Business Secretary Jacob Rees-Mogg has revealed £211 million in government funding to go towards battery research and development.

The EU Digital Services Act (DSA) will come into force on 16 November after it was published in the Official Journal of the EU (OJEU) on Thursday.

Snyk, the UK-founded cyber security unicorn, is cutting 14% of jobs from its global workforce, becoming the latest victim of the tech downturn.


>> Recommended reading and listening

The chip challenge of Europe

One of Antler’s chief investment officers, Sarah Finegan, has written an article on practical ways investors can attract more diverse founders and create a more inclusive venture capital ecosystem across Europe.

Spotify says Apple is “stifling competition” and ruining its audiobook store.

Looking for a job in the big business of cyber security? Here are three European locations you don’t want to miss.

The UK’s financial regulator has warned that Big Tech’s growing interest in payments, lending and other financial products could hurt competition and put traditional providers at a disadvantage.

The State of the Turkish Startup Ecosystem (PDF).


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