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15 June 2022·11 min read

Konrad Koncerewicz

Head of VC & Startups, Vestbee

TOP European Funding Rounds Closed In May 2022

We have already presented interesting CEE startups that closed funding rounds in May. Today, we are going to dive further into the European startup ecosystem and discover more funding rounds that took place in May, the second month of Q2 2022. This time Financial Services, Healthcare, E-commerce, Biotech, and Green-economy attracted investors' interests. 

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

Bloom Group SA

Location: London, England
Launch date: 2020
Funding Round: Series A €351M
Funding Source: Credo Capital Partners, Fortress Investment Group
Total funding received: €352M

Founded in 2020, London-based Bloom Group is a revenue-based financing platform that provides fast and affordable growth capital for e-commerce and other recurring revenue businesses. The startup has recently secured a series A round in the amount of €351M from Credo Capital Partners and Fortress Investment Group. This funding will be used for further platform development.

Aiven

Location: Helsinki, Finland
Launch date: 2016
Funding Round: Series D €201M
Funding Source: Atomico, BlackRock, Earlybird Venture Capital, Eurazeo, IVP, Salesforce Ventures, World Innovation Lab (WiL)
Total funding received: €403M

Finland-based Aiven, founded in 2016, is a technology-driven company that enables businesses to manage an open-source data infrastructure in the cloud. Aiven makes setting up cloud databases simple so that anyone could do it. The startup has recently secured a series D round in the amount of €201M from Atomico, BlackRock, Earlybird Venture Capital, Eurazeo, IVP, Salesforce Ventures, World Innovation Lab (WiL) and the funding will be used to expand abroad and hire developers. 

Paddle

Location: London, UK
Launch date: 2012
Funding Round: Series D  €192M
Funding Source: 83North, FTV Capital, Kindred Capital, Kohlberg Kravis Roberts, Notion Capital
Total funding received: €280M

UK-based Paddle, founded in 2012, is a payments infrastructure provider for SaaS companies. Startup offloads operational complexities from B2B and B2C software companies around the globe so that they can focus on what really matters - their growth. Paddle has recently received support from 83North, FTV Capital, Kindred Capital, Kohlberg Kravis Roberts, and Notion Capital. Secured funds during the series D round in the amount of €192M will be used for accelerating further growth.

Alan

Location: Paris, France
Launch date: 2016
Funding Round: Series E €183M
Funding Source: Coatue, Dragoneer Investment Group, Exor Seeds, Index Ventures, Lakestar, Ribbit Capital, Teachers’ Venture Growth, Temasek Holdings
Total funding received: €535M

London-based Alan is a digital health insurance platform that revolutionizes health insurance by focusing on user experience with an excellent price-quality ratio health plan. The startup secured a series E round of €183M from Coatue, Dragoneer Investment Group, Exor Seeds, Index Ventures, Lakestar, Ribbit Capital, Teachers’ Venture Growth, and Temasek Holdings with plans to use the funds for hiring 1000 new employees. 

Thought Machine

Location: London, UK
Launch date: 2014
Funding Round: Series D €153M
Funding Source: Eurazeo, ING Ventures, Intesa Sanpaolo, JPMorgan Chase & Co., Lloyds Banking Group, Morgan Stanley, SEB (Skandinaviska Enskilda Banken), Temasek Holdings
Total funding received: €540M

Thought Machine is a Fintech company that builds cloud-native technology to revolutionize core banking with a mission to cure one of the banking industry's primary problems: its reliance on outdated IT infrastructure. With the recently secured funding in the amount of €153M from Eurazeo, ING Ventures, Intesa Sanpaolo, JPMorgan Chase & Co, Lloyds Banking Group, Morgan Stanley, SEB (Skandinaviska Enskilda Banken), and Temasek Holdings the startup will continue investing in its cloud-native technology – expanding the capabilities of its core banking platform and innovating in new product lines. 

Carbon Clean Solutions

Location: London, UK
Launch date: 2009
Funding Round: Series C  €141M
Funding Source: AXA Investment Managers, BloombergNEF, Cemex Ventures, Chevron, Marubeni, Samsung Ventures, Saudi Aramco Energy Ventures, TC Energy, WAVE Equity Partners
Total funding received: €203M

UK-located Carbon Clean Solutions is an innovative company specializing in carbon dioxide (CO2) recovery technology for industrial purposes. The company has been recently supported by AXA Investment Managers, BloombergNEF, Cemex Ventures, Chevron, Marubeni, Samsung Ventures, Saudi Aramco Energy Ventures, TC Energy, and WAVE Equity Partners. Secured funds during the series C round of €141M will support Carbon Clean’s goal of becoming the world’s leading provider of carbon capture solutions for heavy industry.

FINN

Location: Munich, Germany
Launch date: 2019
Funding Round: Series B €105M
Funding Source: Climb Ventures, Greentrail Capital, Heartcore Capital, HV Capital, Keen Venture Partners, Korelya Capital, Picus Capital, UVC Partners, Waterfall Asset Management, White Star Capital
Total funding received: €870M

Founded in 2019, Munich-based FINN, offers monthly car subscriptions to create a sustainable method for mobility. With a mission to make mobility fun and sustainable, the startup helps everyone who loves driving their own car but refuses to deal with the struggle, commitment and intransparent costs associated with car ownership. Recently secured funds in the series B round of €105M from Climb Ventures, Greentrail Capital, Heartcore Capital, HV Capital, Keen Venture Partners, Korelya Capital, Picus Capital, UVC Partners, Waterfall Asset Management, and White Star Capital will be used to expand in the US and Germany.

Elwood Technologies

Location: London, UK
Launch date: 2020
Funding Round: Series A  €67M
Funding Source: Barclays, BlockFi, Chimera Investment, CommerzVentures, Dawn Capital, Digital Currency Group, Flow Traders, Galaxy Digital, Goldman Sachs
Total funding received: €67M

UK-based Elwood Technologies, founded in 2020, is an established global fintech, that builds institutional-grade digital assets trading infrastructure. Its seamless end-to-end OMS/EMS/PMS platform provides low-latency connectivity to global crypto exchanges and deep liquidity via one single API. The startup has recently secured a series A round in the amount of €67M from Barclays, BlockFi, Chimera Investment, CommerzVentures, Dawn Capital, Digital Currency Group, Flow Traders, Galaxy Digital, and Goldman Sachs. Raised funds will be used to expand both the Company's breadth of product offerings and its global operations.

Tubulis

Location: Munich, Germany
Launch date: 2012
Funding Round: Series B  €60M
Funding Source: Andera Partners, Bayern Kapital, BioMedPartners, coparion, Evotec, Fund+, High-Tech Grunderfonds, OCCIDENT, Seventure Partners
Total funding received: €72M

German Tubulis is a biotechnology company that generates uniquely matched protein-drug conjugates through the combination of novel proprietary technologies and disease-specific biologic insight. The startup has recently secured a €60M series B round from Andera Partners, Bayern Kapital, BioMedPartners, coparion, Evotec, Fund+, High-Tech Grunderfonds, OCCIDENT, and Seventure Partners. The raised funding will accelerate its ADC Pipeline and expand its Breadth of Platform Technologies. 

byrd

Location: Vienna, Austria
Launch date: 2016
Funding Round: Series C €53M
Funding Source: Cambridge Capital, Elevator Ventures, KK Incube Invest, Mouro Capital, Speedinvest
Total funding received: €75M

Vienna-based byrd, founded in 2016, is a fulfillment network that connects online merchants to an international warehouse network, enabling retailers to offer advanced shipping options on an international scale without building their own logistics network. The startup has recently closed a series C round of €53M from Cambridge Capital, Elevator Ventures, KK Incube Invest, Mouro Capital, and Speedinvest. Secured funds will be used to strengthen its position in Europe’s e-commerce fulfillment market.

Storyblok

Location: Linz, Austria
Launch date: 2017
Funding Round: Series B €45M
Funding Source: 3VC, Firstminute Capital, HV Capital, Mubadala Capital Ventures
Total funding received: €55M

Founded in 2017, Austria-based Storyblok is an enterprise headless Content Management System (CMS) that enables developers and marketers to deliver powerful content experiences on any digital platform. Recently secured series B round in the amount of €45M from 3VC, Firstminute Capital, HV Capital, and Mubadala Capital Ventures will further accelerate product innovation and growth into the US and Europe.

HiveMQ

Location: Landshut, Germany
Launch date: 2012
Funding Round: Series A  €40M
Funding Source: Earlybird Venture Capital, Illusian Family Office, Molten Ventures, Mubadala Capital Ventures, New Forge, Senovo
Total funding received: €49M

Germany-based HiveMQ, founded in 2012, is an IoT company that helps many Fortune 500 companies to facilitate communications between connected IoT devices. The startup has recently secured a series A round in the amount of €40M from Earlybird Venture Capital, Illusian Family Office, Molten Ventures, Mubadala Capital Ventures, New Forge, and Senovo, which will enable the company to press forward with further platform developments as it continues to scale. 

BVNK

Location: London, UK
Launch date: 2021
Funding Round: Series A  €38M
Funding Source: Avenir Growth Capital, Base Capital Partners, Concentric, Kingsway Capital, Nordstar, Raba, Tiger Global Management
Total funding received: €38M

UK-based BVNK, founded in 2021, is a fintech startup that is trying to bridge the gap between crypto and fiat currency. To do so, BVNK offers banking and money management services to companies struggling to balance operations across traditional and digital assets. The company has recently been supported by Avenir Growth Capital, Base Capital Partners, Concentric, Kingsway Capital, Nordstar, Raba, and Tiger Global Management. The funds, secured during the series A round in the amount of €38M, will be allocated to enhance further growth.

Token

Location: London, UK
Launch date: 2016
Funding Round: Series C €38M
Funding Source: Cota Capital, Element Ventures, MissionOG, Octopus Ventures, Opera Tech Ventures, PostFinance, SBI Investment, TempoCap
Total funding received: €85M

London-based Token is an open banking payments platform that drives the shift from card to bank payments with pan-European bank connectivity, data, and compliance capabilities. The startup secured a series C round of €38M from Cota Capital, Element Ventures, MissionOG, Octopus Ventures, Opera Tech Ventures, PostFinance, SBI Investment and TempoCap. The raised funding will be used to further shift consumer habits from traditional payment methods like cards and wallets towards open banking-enabled account-to-account (A2A) payments.

Bliq

Location: Berlin, Germany
Launch date: 2019
Funding Round: Series A €13M
Funding Source: New Enterprise Associates, Proeza Ventures, Revel Partners, Speedinvest
Total funding received: €16M

Bliq is a Berlin-based tech startup that empowers gig economy drivers in the on-demand mobility sector to manage their workflow across multiple platforms and therefore ​​lets its users maximize their earnings. Recently secured funding in the amount of €13M during the series A round from New Enterprise Associates, Proeza Ventures, Revel Partners, and Speedinvest will be allocated to further app development. 

Accountable

Location: Brussels, Belgium
Launch date: 2017
Funding Round: Series A  €10M
Funding Source: 10x Founders, business angels
Total funding received: €17M

Belgium Accountable is the financial companion of today's self-employed workers. The startup enables self-employed professionals to file their tax returns with just a few clicks via their mobile and a web-based app. Accountable has been recently supported by 10x Founders, and various business angels. Funds secured in the series A at the amount of  €10M will be used to fuel Accountable’s expansion across Europe, as well as launch further financial services.

PocketLaw

Location: Stockholm, Sweden
Launch date: 2018
Funding Round: Series A €10M
Funding Source: Atomico, business angels
Total funding received: €13M

Founded in 2018, Stockholm-based PocketLaw is a startup that develops a contract creation and management platform for legal transactions. Its platform empowers businesses to create, sign, and manage contracts in one place. Secured funds in the amount of €10M from Atomico and various business angels will be used for further platform development. 

Freeverse.io

Location: Barcelona, Spain
Launch date: 2019
Funding Round: Series A  €10M
Funding Source: 4Founders Capital, Adara Ventures, Earlybird Venture Capital, OneFootball, Target Global
Total funding received: €11M

Spain-based Freeverse.io, founded in 2019, is a developer of technology infrastructure for “NFTs 2.0”. Freeverse provides a service that allows companies to build products that feature next-generation NFTs – ‘Living Assets’. The startup has recently secured a series A round in the amount of €10M from 4Founders Capital, Adara Ventures, Earlybird Venture Capital, OneFootball, Target Global and business angels. Raised funds will support its go-to-market efforts and the development of the product and core technology.

GetHenry

Location: Berlin, Germany
Launch date: 2018
Funding Round: Seed €10M
Funding Source: APX, EnBW New Ventures, Founder Collective, GreenPoint Partners, LocalGlobe, SpeedUp Venture Capital Group, Third Sphere, Visionaries Club, business angels
Total funding received: €17M

Berlin-based GetHenry is a transportation startup that provides last-mile delivery companies and couriers with an end-to-end e-bike rental service. The company has recently secured a €10M series A round from APX, EnBW New Ventures, Founder Collective, GreenPoint Partners, LocalGlobe, SpeedUp Venture Capital Group, Third Sphere, Visionaries Club, and business angels. The secured funding is expected to power pan-European expansion efforts.

Lang.ai

Location: Madrid, Spain
Launch date: 2018
Funding Round: Series A €10M
Funding Source: Alma Mundi Ventures, FiDi Ventures, Flexport Ventures, Forum Ventures, Lorimer Ventures, Nava Ventures, Oceans
Total funding received: €12M

Spanish Lang.ai, founded in 2018, is a language understanding platform that automates tagging and repetitive actions for every support conversation. The company has recently closed a series A round of €10M from Alma Mundi Ventures, FiDi Ventures, Flexport Ventures, Forum Ventures, Lorimer Ventures, Nava Ventures, and Oceans, and will use the secured funds to further develop its platform. 

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

Related Posts:

TOP European Funding Rounds Closed In April 2022 (Konrad Koncerewicz, Head of VC & Startups, Vestbee)

TOP European Funding Rounds Closed In March 2022 (Konrad Koncerewicz, Head of VC & Startups, Vestbee)

TOP European Funding Rounds Closed In February 2022 (Konrad Koncerewicz, Head of VC & Startups, Vestbee)



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