We mapped out the top-funded tech startup in every European country, including unicorns like Sweden's Klarna and Germany's N26.
Europe is home to prominent startup and innovation hubs in cities like Berlin, Stockholm, and London. But the tech boom is diffusing across the continent — and startups are emerging far beyond the established tech hotbeds.
Since 2015, nearly $90B has been invested across more than 17,800 equity deals to tech startups on the European continent.
This includes investments into leading tech companies such as internet and telecom company OneWeb in the UK, app development tool OutSystems in Portugal, and on-demand ride hailing platform BlaBlaCar in France.
Using CB Insights data, we identified the most well-funded VC-backed tech startup in each country in Europe. Collectively, the startups on our map have raised nearly $9.2B in disclosed equity funding (as of 2/3/2020).
See the full infographic below, and the complete list of startups at the end of this post.
Our analysis ranks companies based on total disclosed equity funding and only considers tech companies that have raised at least $1M of equity funding. Companies included have all raised equity funding since 2015. We exclude subsidiaries and majority-owned startups.
Please click to enlarge.
- The top-funded startup in Europe is global communications company OneWeb in the UK, with almost $3.5B in total disclosed equity funding.
- Rounding out the top 3 most well-funded startups in the region are online payments service provider Klarna in Sweden ($1.1B in disclosed equity funding) and mobile banking platform N26 in Germany ($683M).
- Eight of the 37 companies featured in our map are unicorns, with disclosed valuations of $1B+ (all tracked in real time on the CB Insights global unicorn club tracker). These unicorns are: Klarna ($5.5B valuation, Sweden), N26 ($3.5B, Germany), BlaBlaCar ($1.6B, France), Vinted ($1.1B, Lithuania), Acronis ($1B, Switzerland), Glovo ($1B, Spain), OutSystems ($1B, Portugal), and Bolt ($1B, Estonia).
- The region is home to 16 countries whose most well-funded tech startup has raised over $100M in equity funding. Only OneWeb and Klarna have raised more than $1B+ in equity funding.
- The least well-funded startup on the map is Serbia-based data analysis tool Content Insights, which has raised $3.6M.
- Since our last update of this map in April, only 1 featured startup has exited: Switzerland-based Veeam Software, which was acquired by VC firm Insight Partners in January 2020 at a valuation of $5B+.
|Company||Country||Total Equity Funding ($M)|
|Mews Systems||Czech Republic||42|
This report was created with data from CB Insights’ emerging technology insights platform, which offers clarity into emerging tech and new business strategies through tools like:
- Earnings Transcripts Search Engine & Analytics to get an information edge on competitors’ and incumbents’ strategies
- Patent Analytics to see where innovation is happening next
- Company Mosaic Scores to evaluate startup health, based on our National Science Foundation-backed algorithm
- Business Relationships to quickly see a company’s competitors, partners, and more
- Market Sizing Tools to visualize market growth and spot the next big opportunity