Top European funding rounds Closed in February 2022

Vestbee article | By Konrad Koncerewicz, Head of VC & Startups

We have already presented interesting regional CEE startups that closed funding rounds in February. Today, we are going to dive further into the European startup ecosystem and discover more funding rounds that took place in February, the second month of Q1 2022. This time, the E-commerce, AI, SaaS, Banking, Financial Services, Education, Healthcare, Robotics, Delivery Services, Design and Blockchain attracted investor's interests.

Now, let’s check out TOP 20 February startup funding rounds in Europe!

GoCardless
Location: London, UK
Launch date: 2011
Funding Round: Series G €283M
Funding Source: BlackRock Private Equity Partners, Permira
Total funding received: €481M

Founded in 2011, London-based GoCardless is one of the world's leading international payment providers. The company helps businesses to get paid without worrying about budgeting, collecting payments, or chasing up invoices. GoCardless makes it easy to automate recurring billing processes and scale them with ease while offering transparency and minimizing costs. The startup has recently secured a series G round in the amount of €283M from BlackRock Private Equity Partners, and Permira. The recently secured round valued the company at $2.1B while received funds will be used for accelerating further growth.

Volta Trucks
Location: Sigtuna, Sweden
Launch date: 2019
Funding Round: Series C €230M
Funding Source: Agility, Luxor Capital Group, Waypoint Capital
Total funding received: €300M

Swedish Volta Trucks, founded in 2019, is an automotive company that builds electric trucks. They are currently manufacturing purpose-built full-electric large commercial vehicles to protect vulnerable road users and improve city center environments for all. Volta Trucks has recently secured a series C round in the amount of €230M from Agility, Luxor Capital Group, and Waypoint Capital. Secured funds will be used for getting its all-electric trucks into production by the end of this year.

Scalapay
Location: Milan, Italy
Launch date: 2019
Funding Round: Series B €194M
Funding Source: Deimos Capital, Fasanara Capital, Moore Capital, Tencent, Tiger Global Management, Willoughby Capital
Total funding received: €637M

Milan-based Scalapay, founded in 2019, is a payment solution provider that allows customers to shop in their favorite stores and receive the order straight away while granting them the possibility to pay in three convenient, interest-free options (pay in 3 installments, 4 installments, or entirely after 14 days). The startup has recently been supported by Deimos Capital, Fasanara Capital, Moore Capital, Tencent, Tiger Global Management, and Willoughby Capital. Secured funds during the series B round in the amount of €194M will be used for further product development.

Genesis Global
Location: London, UK
Launch date: 2012
Funding Round: Series C €182M
Funding Source: Accel, GV, Illuminate Financial, Insight Partners, Salesforce Ventures, Tiger Global Management, Tribeca Early Stage Partners
Total funding received: €227M

UK-based Genesis Global is a low code software platform that helps financial institutions build applications without having to write substantial lines of code. Specifically geared toward financial markets, Genesis tackles direct automation use cases like End User Computing replacement and client servicing portals, alongside more complex operations including automating end-to-end electronic trading workflows and mobile framework applications. The startup secured a series C round of €182M from Accel, GV, Illuminate Financial, Insight Partners, Salesforce Ventures, Tiger Global Management, and Tribeca Early Stage Partner with plans to use these funds for expanding into international markets including Asia-Pacific.

Scandit
Location: Zurich, Switzerland
Launch date: 2009
Funding Round: Series D €136.5M
Funding Source: Atomico, Forestay Capital, G2VP, GV, Kreos Capital, NGP Capital, Schneider Electric, Sony Innovation Fund, Swisscom Ventures, Warburg Pincus
Total funding received: €249M

Scandit is a Swiss technology platform for mobile computer vision and augmented reality (AR) solutions. The company software brings unmatched scanning performance to any app on any camera-equipped smart device, from smartphones to wearables. Scandit can be used to power apps such as mobile shopping, self-checkout, inventory management, proof of delivery, and asset tracking. Recently secured funding in the amount of €136.5M from Atomico, Forestay Capital, G2VP, GV, Kreos Capital, NGP Capital, Schneider Electric, Sony Innovation Fund, Swisscom Ventures, and Warburg Pincus will be allocated to creating new products and supporting activities in Asia-Pacific markets.

Wayflyer
Location: Dublin, Ireland
Launch date: 2019
Funding Round: Series B €136.5M
Funding Source: Counterpart Advisors, DST Global, JP Morgan, Left Lane Capital, Madrone Capital Partners, Prosus Ventures, QED Investors
Total funding received: €306M

Irish Wayflyer is a revenue-based financing platform for e-commerce brands. It provides fast and affordable funding and actionable insights to help businesses grow, without any complications. The company has been recently supported by various investors among which are Counterpart Advisors, DST Global, JP Morgan, Left Lane Capital, Madrone Capital Partners, Prosus Ventures, and QED Investors. Secured funds in the series B round of €136.5M will be allocated to continuing Wayflyer’s global expansion, as well as expanding its product offering.

Swappie
Location: Helsinki, Finland
Launch date: 2016
Funding Round: Series C €108M
Funding Source: Inventure, Lifeline Ventures, Reaktor Ventures, Tesi, Verdane
Total funding received: €154M

Founded in 2016, Finland-based Swappie, is a safe and secure online store for refurbished smartphones where users can order affordable devices directly from the Swappie store. The company operates its own refurbishment factory in the Nordics and sells smartphones directly to consumers. Recently secured funds in the series C round of €108M from Inventure, Lifeline Ventures, Reaktor Ventures, Tesi, and Verdane will be used for scaling its operations in Europe.

Vivid Money
Location: Berlin, Germany
Launch date: 2020
Funding Round: Series C €100M
Funding Source: Greenoaks Capital, Ribbit Capital, SoftBank Vision Fund
Total funding received: €175M

Belgian Vivid Money, founded in 2020, is a financial platform that helps customers grow their money. The company offers a unique mobile banking app at their fingertips, which includes among others one-tap payments and transfers, high-interest saving accounts, multi-currency accounts for travel expenses with instant spending reports and split bills functionality. Vivid Money has recently secured a series C round in the amount of €100M from Greenoaks Capital, Ribbit Capital, and SoftBank Vision Fund, while raised funds will support further improvement of the product, enhancing marketing, and building out the application’s educational features.

InterCloud
Location: Paris, France
Launch date: 2010
Funding Round: Series D €100M
Funding Source: Aleph Capital Partners, Open CNP, Ventech
Total funding received: €140M

French InterCloud is a Cloud connectivity platform that provides software-defined cloud interconnect services that guarantee enterprise clients optimized, automated and secure access to cloud-hosted applications and data. InterCloud has recently secured a €100M series D round from Aleph Capital Partners, Open CNP, and Ventech. The raised funding will drive international expansion plans through acquisitions as well as bolster its services offer.

Qredo
Location: London, UK
Launch date: 2018
Funding Round: Series A €73M
Funding Source: 10T Holdings, Alumni Ventures, Avalanche, Coinbase Ventures, GMF Capital, GoldenTree Asset Management, HOF Capital, Kenetic, Kestrel 0x1, Kingsway Capital, Liberty City Ventures, Nural Capital First Light, Raptor Group, Rovida Kruptos Assets, SVK Crypto, Terra, tokentus investment AG, Vectr
Total funding received: €99M

London-based Qredo, founded in 2018, is a platform that provides secure and fast movement of digital assets. It powers institutional traders to make their trading operations more efficient, 24/7 on an open protocol with the support of Qredo's team. By eliminating the operational and security burden from wallet key management, it also reduces cyber-threats. The startup has recently closed a series A round of €73M from 10T Holdings, Alumni Ventures, Avalanche, Coinbase Ventures, GMF Capital, GoldenTree Asset Management, HOF Capital, Kenetic, Kestrel 0x1, Kingsway Capital, Liberty City Ventures, Nural Capital First Light, Raptor Group, Rovida Kruptos Assets, SVK Crypto, Terra, tokentus investment AG, and Vectr. Secured funds will be used for supporting further platform development.

Microbiotica
Location: Cambridge, UK
Launch date: 2016
Funding Round: Series B €60M
Funding Source: British Patient Capital, Cambridge Innovation Capital, Flerie Invest, IP Group, Seventure Partners, Tencent
Total funding received: €75M

Founded in 2016, UK-based Microbiotica is a developer of human microbiome therapeutics intended to discover and develop live bacterial therapeutics and biomarkers. The company's therapeutics identify gut bacteria linked to phenotype with unprecedented precision, enabling researchers to phenotype before testing candidate bacteria in advanced human in vitro and invivo models. Recently secured series B round in the amount of €60M from British Patient Capital, Cambridge Innovation Capital, Flerie Invest, IP Group, Seventure Partners, and Tencent will be allocated to progressing clinical studies.

Zenjob
Location: Berlin, Germany
Launch date: 2015
Funding Round: Series D €45M
Funding Source: Acton Capital, Aragon Global Management, Atlantic Labs, AXA Venture Partners, Forestay Capital
Total funding received: €98M

German Zenjob, founded in 2015, is a digital staffing marketplace that connects employers with job seekers, who are looking for temporary work. Using the Zenjob app, people can find and book jobs on an hourly basis as well as decide when, where and for whom they want to work. Zenjob has recently secured a series D round in the amount of €45M from Acton Capital, Aragon Global Management, Atlantic Labs, AXA Venture Partners, and Forestay Capital, while raised funds will be used for expanding activities in the European markets.

Automata
Location: London, UK
Launch date: 2015
Funding Round: Series B €44M
Funding Source: ABB Technology Ventures, aldeA Ventures, HCVC, Hummingbird Ventures, In-Q-Tel, Isomer Capital, Latitude Ventures, Octopus Ventures
Total funding received: €54M

UK-based Automata, founded in 2015, is a biotechnology company that provides workflow automation for the life sciences industry and therefore helps the labs to rapidly innovate, diagnose and discover at scale. The company has recently been supported by ABB Technology Ventures, aldeA Ventures, HCVC, Hummingbird Ventures, In-Q-Tel, Isomer Capital, Latitude Ventures, and Octopus Ventures. Secured funds during the series B round in the amount of €44M will be allocated to expanding lab automation features.

Weavr
Location: London, UK
Launch date: 2018
Funding Round: Series A €35M
Funding Source: Anthemis Group, Force Over Mass Capital, Headline, Latitude, Mubadala Capital Ventures, QED Investors, Seedcamp, Tiger Global Management, UFP Fintech
Total funding received: €50M

UK-based Weavr, is a startup that provides an open publicly accessible cloud-based platform that connects payment networks and financial providers, and tools for innovators to define, deploy and consume digital payment flows. The startup secured a series A round of €35M from Anthemis Group, Force Over Mass Capital, Headline, Latitude, Mubadala Capital Ventures, QED Investors, Seedcamp, Tiger Global Management, and UFP Fintech, which will be used for further platform development.

Marvel Fusion
Location: Munich, Germany
Launch date: 2019
Funding Round: Series A €35M
Funding Source: Berggruen Holdings, Earlybird Venture Capital, Possible Ventures, Primepulse, Taavet+Sten, Thistledown Capital
Total funding received: €35M

Marvel Fusion is a Munich-based developer of fusion energy technology used to offer environment-friendly and safe energy. Its reactor is based on the short pulse, high energy, and electrically efficient laser that is suited for commercializing baseload fusion electrical power helping consumers to access clean, safe, and reliable energy sources. Recently secured funding in the amount of €35M during series A round from Berggruen Holdings, Earlybird Venture Capital, Possible Ventures, Primepulse, Taavet+Sten, and Thistledown Capital will be allocated to development and commercial realization of fusion energy technologies.

Instagrid
Location: Stuttgart, Germany
Launch date: 2018
Funding Round: Series B €29M
Funding Source: blueworld.group, Energy Impact Partners, High-Tech Grunderfonds, Segnalita, SET Ventures
Total funding received: €38M

German Instagrid is a company working on portable battery storage to create mobile power infrastructures and its product Instagrid ONE. It provides professionals in sectors such as construction, events or public safety with reliable and efficient access to electricity to replace highly polluting generators. Instagrid has been recently supported by blueworld.group, Energy Impact Partners, High-Tech Grunderfonds, Segnalita, and SET Ventures, while secured funds will be allocated to accelerating its international expansion in Europe and the US.

Depict.ai
Location: Stockholm, Sweden
Launch date: 2019
Funding Round: Series A €15.5M
Funding Source: EQT Ventures, Initialized Capital, Northzone, Tiger Global Management, Y Combinator
Total funding received: €18M

Founded in 2019, Stockholm-based Depict.ai, is a startup building an AI-powered product recommendation engine to help bring “Amazon-quality” product recommendations for any e-commerce store and therefore helps them with boosting key metrics & turning visitors into customers. Secured funds in the amount of €15.5M from EQT Ventures, Initialized Capital, Northzone, Tiger Global Management, and Y Combinator will be used for further product development.

FloodFlash
Location: London, UK
Launch date: 2017
Funding Round: Series A €13M
Funding Source: Buoyant Ventures, Insurtech Gateway, LocalGlobe, MS&AD Ventures, Munich Re Ventures, Pentech Ventures, PropTech1 Ventures, Sony Financial Ventures
Total funding received: €16M

UK-based FloodFlash, founded in 2017, is an insurance technology company that provides parametric flood insurance to the mass market. FloodFlash’s smart cover has set new standards for simple, transparent insurance, protecting thousands that can’t get covered anywhere else. The startup has recently secured a series A round in the amount of €13M from Buoyant Ventures, Insurtech Gateway, LocalGlobe, MS&AD Ventures, Munich Re Ventures, Pentech Ventures, PropTech1 Ventures, and Sony Financial Ventures. Raised funds will support the US expansion.

Finary
Location: Paris, France
Launch date: 2020
Funding Round: Series A €8M
Funding Source: Speedinvest, Y Combinator, business angels
Total funding received: €10.2M

French Finary is a platform that allows everybody to track and manage all the investments (Brokerage Accounts, Real Estate, Crypto, Bank Accounts, Startups, Precious Metals and much more) with real-time prices. The startup has recently secured a €8M series A round from Speedinvest, Y Combinator, and business angels, while secured funding will be used for further platform development.

Return Entertainment
Location: Helsinki, Finland
Launch date: 2019
Funding Round: Venture round €5.3M
Funding Source: 1Up Ventures, BITKRAFT Ventures, Sisu Game Ventures, SMOK Ventures, VGames
Total funding received: €5.3M

German Return Entertainment, founded in 2019, is a game development studio engaged in cloud-native gaming. The company has recently closed a venture round of €5.3M from 1Up Ventures, BITKRAFT Ventures, Sisu Game Ventures, SMOK Ventures, and VGames. Secured funds will go towards developing two cloud-native games for PC and mobile.

Sources: Vestbee VC & startup community, startup press releases, web & social media monitoring, Crunchbase