While the tech ecosystem in Bulgaria was busy with Leanplum’s latest big investment round, many other significant deals happened around Europe recently, with just the top five passing the €700m threshold. According to Dealroom‘s venture database, these include two fintechs, one online grocery shopping site, one provider of energy storage solutions, and one urban air mobility company.
In a series D round, Revolut raised €461m, reaching a valuation of €5.08b. The company providing a set of digital solutions to replace bank accounts currently has over 10 million customers and according to the fintech disruptor, the number of its daily active users grew by 380% in 2019. TCV, which has companies like Airbnb, Spotify and Netflix in its portfolio, was the lead investor.
Are flying taxis actually going to appear in the skies within the next five years? We still don’t have a definitive answer to this question but the German logistics company DB Schenker, part of German rail operator Deutsche Bahn and several other investors put another €87m in Volocopter, the company developing autonomous electrical Vertical Take-Off and Landing (eVTOL) air vehicles.
Starling Bank (€70.7m)
UK challenger bank Starling Bank also joined the fundraising party with a €70.7m round from its previous investors, Merian Global Investors and JTC. Starling says that since launching its banking app in 2017, over 1.25 million accounts have been opened for consumers and small businesses.
Swedish online food delivery company Mathem received €47.5m to continue expanding across the Northern country. A Bulgarian connection can be found here as one of the investors in the round was Kinnevik, whose CEO is Georgi Ganev.
Highview Power (€42.5m)
Finally, Japanese industrial machinery company Sumitomo Heavy Industries is apparently moving into clean energy with a €42.5m investment in Highview Power, a provider of long-duration cryogenic energy storage solutions.