This Week in European Tech: Wise Signs $300M Debt Financing Deal, eToro Buys Bullsheet, Fund for Women Founders, and More


This week our to research team followed followed more than 80 technology financing agreements Upper value 1.2 billion eurosand more 5 releases, M&A transactions, rumorsand related reporting across Europe.

As always, we’re rounding them all up for you in a list sent out in our recap 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 for the second edition of the Summit! Save this 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 past few days (Subscribe to our free newsletter to get this roundup in your inbox).


>> Notable and important funding rounds

Stockholm-based startup H2 Green Steel has secured support for the 3.5 billion euros in debt financing he is to build a hydrogen steelworks in northern Sweden.

The global money transfer company Wise has obtained £300m debt financing to support its future growth plans. The syndicated credit facility was arranged and led by Silicon Valley Bank UK with six other banks also participating.

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

s’ Hertogenbosch, the Netherlands Floryn, an online lending marketplace for small and medium-sized businesses, has raised 65 million euros of NatWest, a London-based retail bank.

UK global payment solutions expert, CloudPay, has raised a new funding round of 50 million dollars while registering strong growth as demand continues for cloud-based integrated global payroll and payment services.

Shippeo, a French SaaS platform for supply chain visibility, is on board $40 million in Series D Freightnow bringing the ship’s tonnage to $107.9 million.

The Eindhoven-based manufacturer of “powerful and advanced solutions for cutting-edge AI”, Axelera, has raised $27 million in a series A round.


>> Notable SPAC acquisitions, mergers, IPOs and transactions

eToro has acquired Lisbon-based Bullsheet, a provider of portfolio management tools designed exclusively for eToro users. The purchase price remains unknown.

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

Visma, the European leader in cloud software, has acquired SaaS scaling OutSmart, provider of field service management software for small and medium businesses. OutSmart is based in the Netherlands and also operates in Belgium, Germany and Portugal. eastern switzerland purchase German dating app


>> Interesting investor moves

Poland’s Market One Capital has just raised its second fund, 80 million eurosto invest in more early-stage European network and market effect start-ups.

Female Founders has announced the launch of its F fund, developed to support pre-seed and seed start-ups with at least one woman in the founding team. The first closing of the venture capital fund oversubscribed to more than 12 million euros.

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

Redstone and EnjoyVenture have joined forces to create human impact capital (HIC), the first venture capital fund dedicated to social impact in Germany, with a size of 50 million dollars.

Station F, the iconic startup campus in Paris, is redesign completely its Founders Program to make it an acceleration program.


>> In other (important) news

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

Bill Gates lent his support behind a new coalition between eight European cleantech companies, who have joined hands to raise all the veils when it comes to putting Europe in the driver’s seat when it comes to achieving zero emissions targets.

The European Union is preparing rules that would oblige banks in the euro zone to offer instant payments in euros.

Furniture e-commerce company has temporarily suspended new customer orders following the failure of discussions with potential buyers.

Another victim of the crisis: the German e-commerce company is dead.

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

The online car market Cazoo has announced a record quarter in the UKwith its highest ever revenue and sales as part of its withdrawal from European markets.

UK Business Secretary Jacob Rees-Mogg revealed £211m in government funding move towards battery research and development.

The EU’s Digital Services Act (DSA) will come into force on November 16 after its publication in the Official Journal of the EU (OJEU) on Thursday.

UK-founded cybersecurity unicorn Snyk is said to be lay off 14% of jobs in its global workforce, becoming the latest victim of the tech downturn.


>> Recommended reading and listening

Europe token challenge

One of Antler’s investment directors, Sarah Finegan, wrote an op-ed on practical ways for investors to attract more diverse founders and create a more inclusive venture capital ecosystem across Europe.

Spotify says Apple is “stifling competition” and ruin his audiobook store.

Are you looking for a job in the big cybersecurity company? Here is three European sites you don’t want to overlook.

The UK financial regulator has warned that Big Tech’s growing interest in payments, loans and other financial products could harm competition and disadvantage traditional providers.

The state of the Turkish startup ecosystem (PDF).

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