This Week in European Tech: Yet Another Massive Spike in Debt Financing Deals, Carta Acquires Capdesk, Claret Capital Closes €297M Fund, and More

This week, our research team tracked more than 80 technology financing agreements Upper value €1.6 billionand more 25 releases, M&A deals, rumorsand related reporting across Europe.

As always, we’re rounding them all up for you in a list sent out 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 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 delivered to your inbox).


>> Notable and important funding rounds

Germany’s fourth-largest automotive supplier, MAHLE, has received a €300 million loan from the European Investment Bank to accelerate research and development on vehicle electrification and the decarbonisation of road traffic.

Copenhagen-based integrated finance startup Moneyflow has secured €250 million in asset-backed debt financing from Belgian bank Aion.

Wayflyer, a Dublin, Ireland-based revenue-based funding and growth platform for e-commerce businesses, has secured $200 million (plus $53 million mezzanine) under a financing facility. Credit Suisse debt financing.

H2 Green Steel raised €190 million in funding from investors in its latest Series B funding round to expand its hydrogen, iron and steel facilities.

The Swiss food tech Planted has raised more than 70 million euros to develop clean label bio-structured meat. The Series B funding was led by L Catterton and backed by existing investors.

Boopos, a Madrid-based company that operates a tech lending platform for small business acquisitions, raised $58 million in a combined debt and equity round, tripling its valuation less one year.

Berlin-based fintech topi gives retailers and manufacturers access to subscription-based transactions and helps fuel the shift to a circular economy. The startup has just secured 44.8 million euros and announces a strategic partnership with GRAVIS, the leader in electronic distribution in Germany.

Based in Stockholm and recently launched in the UK, Motatos is a startup tackling food waste through e-commerce. The Nordic team has just raised 38 million euros through a capital increase directed towards existing shareholders.

After raising $200 million in a Series C funding round in December last year, Berlin-headquartered telephony-as-a-service provider everphone has raised $32 million. euros as part of an extension of its Series C financing to expand into new markets.

Swedish troubleshooting automation startup Mavenoid secured $30 million in a Series B round.


>> Notable SPAC acquisitions, mergers, IPOs and transactions

Carta, the Silicon Valley-based tech equity unicorn, has announced the acquisition of leading European equity management firm Capdesk. This acquisition is part of their shared vision to address illiquidity in private markets and follows the recent acquisition of another London-based fintech, Vauban.

NetEase, a Chinese technology company and billion-dollar video game publisher, has acquired French video game studio Quantic Dream.

US private investment firm Republic has completed the $100 million acquisition of London-based crowdfunding platform Seedrs.

Serbian software engineering and digital product development company HTEC Group has acquired Sarajevo-based Mistral Technologies and its team of more than 300 experts, making it the largest technology company in the Balkan country.

Bango, a Cambridge-based payments analytics company, has acquired the global payments business of Japanese mobile network operator NTT DOCOMO for €4 million.

Just days after announcing a £2.5m investment, Auddy is well on its way to acquiring Vienna-based Audiomy, a podcast advertising sales company focused on the German-speaking region/DACH.

To further incentivize employee alignment with real-time performance data and feedback, Swiss HR technology platform beqom has acquired Irish continuous performance management platform Our Tandem.

Scoupy, a Utrecht-based cashback app, has been acquired by Cashback Holding for an undisclosed amount.


>> Interesting investor moves

DTCP completed the second closing of its Digital Infrastructure Vehicle II with approximately €1 billion in capital commitments. The fund launched in June 2021 and has raised additional capital from new international investors, including BlackRock and abrdn, as well as a Middle Eastern sovereign wealth fund and various German insurance companies.

A new fund of funds wants to support emerging VCs in Europe. Co-founded by former Lakestar partner Mark Schmitz, Equation has previously backed 13 emerging venture capital fund managers.

MEPs have finally lost patience with the 18-month delay in setting up and running the new EU equity fund. But as the gloves fell off this week, the European Commission said the solution was in sight.

London-based growth capital provider Claret Capital has closed a €297 million fund to support innovative companies in the technology and life sciences sector. Named Claret European Growth Capital Fund III, the fund will invest in around 50 to 60 new companies.

The Green Generation Fund (GGF) founded by Manon Littek and Janna Ensthaler has raised 100 million euros to invest in innovative food technology and green technology start-ups.

Start-up venture capital fund Forward Partners closed its loss-making revenue-based financing subsidiary, Forward Advances, just two years after its launch due to “macroeconomic uncertainty”.


>> In other (important) news

Klarna, the buy now, pay later provider, revealed losses more than tripled in the first half of the year, saying it had cut jobs and would make smaller loans to some customers to return to profitability.

The UK Competition and Markets Authority (CMA) has cleared the £6 billion acquisition of cybersecurity firm Avast by US giant NortonLifeLock.

Microsoft’s $68.7 billion cash deal with video game giant Activision Blizzard is coming under greater antitrust scrutiny in the UK, where the country’s market watchdog has announced that he would move on to a full investigation.

The European Union has officially opened its new office in San Francisco to liaise with US-based technology companies and help them comply with EU regulations. Initially co-located with the Irish Consulate, the office will enhance EU-US cooperation in digital diplomacy.

The European Commission (EC) has published draft rules that would impose a series of durability and repairability requirements for smartphones and tablets sold in the EU, its latest effort to reduce electronics-related waste.

Jupiter Fund Management is in talks to sell its entire stake in Starling Bank months after the digital lender’s valuation topped £2.5bn.

British cross-border payments company Zepz has appointed Mark Lenhard as group CEO. Lenhard has 20 years of experience in the payments space and was most recently chief operating officer (COO) at accounts payable fintech

The European Tech Alliance (EUTA) welcomes Victoria de Posson as its very first General Secretary. She will lead EUTA’s policy and advocacy work, in addition to managing day-to-day operations.

Payments company SumUp is making the leap into B2C services with its first direct-to-consumer product, a digital wallet.

ESNA – the Alliance of Startup Nations Europe – is ready to start operations following the receipt of a one million euro grant from the European Commission’s Horizon Europe programme.


>> Recommended reading and listening

🎙️ Lessons in sustainable growth and market dominance from Zürich-based CEO and co-founder of Scandit, Samuel Mueller.

European games have dedicated fans. But big-name politicians don’t come to play.

The EU is the world leader in quantum research, but the companies created to exploit it are struggling to get the money to scale. Experts say the EU and member states should coordinate their efforts and work to boost investment.

Report on the Estonian startup scene: €1 billion in funding and €958 million in revenue in the first half of 2022.

Margie D. Carlisle