Money Buzz! Europa

Category: Investment

  • Voi announces another $160 million Series C funding round

    Voi announces another $160 million Series C funding round

    The Series C funds take total funding of Voi over the last four months to US$190 million, including the $30 million announced this past July and completed in September.

    The Raine Group, a global integrated merchant bank advising and investing in high-growth sectors of technology led the capital raise.

    The round also attracted investment from existing investors, including VNV Global, Balderton, Creandum, Project A, Inbox, Nordic Ninja, and Stena Sessan.

    Top entrepreneurs and executives from Amazon, Delivery Hero, iZettle, Klarna, Kry/Livi, Nordic Ninja, and Zillow also participated in this latest funding round.

    Through this new funding, Voi has also secured an industry first: scaled asset-backed debt facility, which will be directed towards scooter and e-bike investment in 2021.

    Thus, Voi are the first in this industry to be able to borrow money with scooters as collateral.

  • Eni will pay 405 million pounds for a 20% stake in the UK Dogger Bank project

    Eni will pay 405 million pounds for a 20% stake in the UK Dogger Bank project

    Eni enters the world’s largest offshore wind project with the acquisition of a 20% stake in the UK Dogger Bank (A and B) 2.4 GW project.

    The project involves the installation of 190 state-of-the-art turbines situated approximately 80 miles from the British coast.

    Each turbine has a capacity of 13 MW for a total capacity of 2.4 GW.

    At full capacity, Dogger Bank (3.6 GW) will be the world’s largest project of its kind, generating around 5% of UK demand for renewable electricity and supplying energy to approximately 6 million British families.

    The construction of the Dogger Bank (A and B) is expected to cost a total of £6 billion and will take place in two stages, with the first to be completed by 2023, and the second by 2024.

  • Apple co-founder Steve Wozniak launches his second company

    Apple co-founder Steve Wozniak launches his second company

    Apple co-founder, Steve Wozniak, is rolling out his second company, Efforce, to transform and disrupt the energy efficiency market.

    A token listing yesterday sent Efforce market capitalization to $950M in the first 13 minutes, 10 times the listing price.

    The company had received an initial valuation of $80M by investors in private sales.

    Efforce is a marketplace that enables companies to undertake energy efficiency measures at no cost.

    Thus, the energy efficiency market is accessible to investors who can then monetize the transferable energy savings.

    Efforce uses an web-based platform to leverage the blockchain, and tokens called WOZX, as the mechanisms to create a seamless platform to spur global energy efficiency.

  • Abris Capital buys Polish healthcare business Scanmed

    Abris Capital buys Polish healthcare business Scanmed

    Abris Capital signed an agreement to acquire 100% of the shares in Scanmed, a Poland-based healthcare network operator, from Life Healthcare Group Holdings Limited.

    The transaction is subject to regulatory approvals and is expected to close in the first quarter of 2021.

    Scanmed operates in 42 locations across Poland, providing primary healthcare and specialist consultations, advanced diagnostics and hospital treatment.

    Abris plans to support Scanmed in the extension of its service offering and geographic coverage, as well as in the continued improvement of its medical facilities and care in key therapeutic areas.

    The company also plans to increase commercial revenues in orthopedics, ophthalmology, rehabilitation and urogynecology, and to open new labs and surgery units.

    At present, Scanmed operates two multi-specialist hospitals, 13 cardiac centers offering comprehensive diagnostics and cardiological treatment, and a variety of clinics and medical centers across Poland.

    Scanmed also provides outpatient care services in major Polish cities including Warsaw, Kraków, Poznan, Wroclaw, Gdansk and Pabianice.

  • Tesla is the company that most of Romanians want to invest in

    Tesla is the company that most of Romanians want to invest in

    Invezz.com found that Tesla is the company that Romanians most want to invest in with an astonishing 11,700 online searches a month for the clean energy innovator’s stock.

    Apple is in second position with 6,800 online enquiries per month for the tech enterprises stock from interested Romanians. 

    In third place is Amazon with an average of 4,500 online searches each month for their stock. Amazon as an investment prospect is certainly an enticing one, given their consistent desire to expand into new services – this is exemplified by the recent launch of their own online pharmacy.

    In fourth spot is NIO who receive an average of 4,300 online searches each month from Romanians keen to invest in the Chinese automobile manufacturers stock.

    On the other end in tenth position is Hertz. The car rental organisation gains 800 online searches every month from those looking into their stock as an investment option.

    Interestingly, there are 800 online searches per month for Google stock as well, meaning the search engine juggernaut ranks ninth. 

    Romanians desire to invest in company stock

    Considering that investment in stocks can be a key pillar in building personal wealth, Invezz.com surveyed 1,108 undecided Romanians to find out what would push them over the ‘investment line’, and their answers were as follows:

    • Obtaining more knowledge on investment (79%);
    • Cutting down on non-essential expenses so there is more money available for investment (75%);
    • Accepting there will be various ‘risks’ associated with investing (69%);
    • Having help or guidance from an investment professional (63%);
    • Being less deterred by negative stock market speculation (32%).
  • Vienna Insurance Group to pay EUR 830 million for CEE business of Aegon

    Vienna Insurance Group to pay EUR 830 million for CEE business of Aegon

    Vienna Insurance Group agreed with Aegon on 29 November 2020 to acquire Aegon’s insurance business in Hungary, Poland, Romania and Turkey.

    The purchase price amounts to EUR 830 million. The transaction is subject to the necessary regulatory and competition approvals.

    Closing of the transaction is expected to take place in the second half of 2021.

    VIG will take over Aegon’s non-life and life insurance companies as well as pension funds, asset management and service companies in these countries.

    With the acquisition of these companies, VIG is further expanding its leading market position in Central and Eastern Europe and moves up to the first rank in Hungary’s insurance market.

    In addition, VIG is extending its scope of activity in the pension fund business in this region and will also be active in the life business in Turkey for the first time.

    The premium volume of the insurance companies in the four countries amounted to the equivalent of approx. EUR 600 million in 2019, with a net profit of approx. EUR 50 million.

  • Romania: Investors are cautious, but don’t fully retreat

    Romania: Investors are cautious, but don’t fully retreat

    In Romania 46% of investors cancelled, decreased or paused investments, while 51% did no changes or increase in their investment plans, according to EY Attractiveness Survey Romania.

    Looking forward, investors are still optimistic and believe Romania will become more attractive after the COVID-19 pandemic will pass. Supply chain (35%) and manufacturing operations (36%) are regarded as main investment attractions.

    To increase the country’s competitiveness, the majority of foreign investors believe Romania should focus on its agriculture and IT assets. Romania should focus on its efforts on funding key issues like education, technological transformation and infrastructure.

    How was Romania performing in terms of FDI before COVID-19 emerged?

    In 2019, 78 foreign investment projects were carried out in Romania, a decrease of approximately 28% compared to the previous year (113 projects in 2018), placing the country on the 15th place in Europe. Nevertheless, it is important to mention that the value of FDI has not deacresed significantly from 2018 to 2019.

    A similar trend can be observed across the region, with CEE countries experiencing a decrease in the total number of FDI projects by about 20% compared to the previous year.

    2019 was a year in which foreign investors expressed a higher appetite for Western Europe, which held 80% of the European market share.

    While COVID-19 might have a negative influence on FDI dynamics in the future, in the past 13 years, following the succession to the EU, Romania has witnessed a considerable increase in terms of annual number of FDI projects, directly contributing to local economic growth.

    European countries, main investors in Romania

    At the end of 2019, the most important economies investing in Romania were, based on FDI stock data provided by BNR: Netherlands, with a share of FDI in the FDI stock of 23.2%, followed by Austria with a share of 12.6%, and Germany, with a share of 12.3%.

    Overall, the top 10 investor countries had a total share in total FDI stocks of 83.4%, while the top 20 countries had a share of in FDI stocks of 95.4%.

    It is noteworthy that the member countries of the European Union they had a share of 89.5%  in total FDI stocks, which emphasizes the EU’s role as Romania’s main strategic partner.

    FDI concentrated in Romania’s major cities

    Similar to other European markets,foreign investment was highly concentrated in major cities in 2019. Bucharest attracted 50% of the total number of announced FDI projects (a 10% increase from the previous year), while Timișoara took the second place, for the second year in a row, with a 11.5% market share.

    Regional areas of investment

    In the last decade, most FDI projects were implemented in the Bucharest-Ilfov region (59.3% of the total in 2015). A notable growth during this timeline can be observed in Western region of Romania (10%). During the same period, the Southern Region of Romania (Muntenia) attracted 15.5% more investment compared to the previous year.

    The North-Eastern region is characterized by a low FDI quota mainly due to the quality of local infrastructure, an aspect that isolates the region from the rest of the regions and implicitly from the activities that involves long-distance transport.

    If we compare the share of total FDI and the share of total GDP of the regions, it is easy to see how these indicators are interconnected.

    The South-Western region has the lowest share of total GDP (7.5%), being also the one that attracted the smallest FDI flow (after the North-East region). For Muntenia, Central Romania, Western, North-Western and South-Eastern regions, the values are relatively close, both in terms of weight in total FDI, as well as in terms of share in total GDP.

    However, they are far below comparing to the Bucharest-Ilfov region for both indicators, strengthening Bucharest’s strategic importance in terms of FDI. 

    Digital and business services sectors, leaders in FDI project numbers

    In 2019, in line with European trends, the digital and business services sectors  attracted the largest numbers of FDI projects, with a 36% market share for the digital sector and 16.7% share for business services. Together, they accounted for over 50% of the number of new jobs created.

    Occupying the third place, the agri-food business generated far less new jobs, being a much vulnerable sector, being also more vulnerable from revenue losses considering COVID-19 supply chain disruptions.

    Machinery and equipment manufacturing generated the second highest number of new jobs in 2019 (18.2% of the total number), even though there were 4 FDI projects announced last year.

    How can Romania retain its attractiveness post-COVID-19?

    Our survey shows investors decisions will be driven by the following market factors: social and political stability (66%), labor supply – skilled and unskilled (65%), cost-competitiveness of the country (65%).

    According to the respondents, Romania should focus on its efforts on funding key issues such as development of education and skills (84%), supporting high technology and innovation

    Industries (81%), investing in major infrastructure and urban projects (80%). In terms of sectors that could accelerate Romania’s development, the majority of foreign investors mentioned agriculture (35%), the IT sector (29%) transport and motor vehicle (21%).

    For companies already present on the local market, the safety and security measures put in place to prevent a major crisis in the future (74%) and the level of success in addressing the crisis caused by COVID-19 (61%) are essential.

  • Bertelsmann to pay $ 2.175 billion in cash for Simon & Schuster

    Bertelsmann to pay $ 2.175 billion in cash for Simon & Schuster

    Bertelsmann will pay $ 2.175 billion in cash for the acquisition of the American publishing house Simon & Schuster from ViacomCBS.

    Bertelsmann, founded 185 years ago, offered more than News Corp. to acquire Simon & Schuster, which published authors such as Dan Brown, Hillary Clinton and Stephen King.

    The transaction keeps Bertelsmann’s position as a world leader in the field of book sales, Reuters reports.

    Simon & Schuster had revenues of $ 814 million last year and 1,500 employees. The transaction is expected to be completed in 2021, subject to regulatory approval.

    It is the second major transaction made by general manager Thomas Rabe, after less than a year ago Bertelsmann acquired Penguin Random House publishing house.

  • De’ Longhi acquires a global leader in the personal blenders segment

    De’ Longhi acquires a global leader in the personal blenders segment

    Founded in 2003 and headquartered in Los Angeles, California, Capital Brands develops and sells domestic appliances with a focus on wellness nutrition to households in over 100 markets worldwide under the Nutribullet and Magic Bullet brands.

    The company created the personal blenders segment, within the broader blenders category – which is estimated to be worth ca. $ 1.1 billion in the USA – and has become the category leader in North America and in other key markets around the world such as Australia, New Zealand and the UK.

    Capital Brands forecasts net revenues of approximately $ 290 million for year 2020, ahead of last year sales.

    With this transaction, the United States become the largest market for the De’ Longhi Group, with aggregate turnover in excess of $ 500 million.

    The price payable by De’ Longhi for Capital Brands is approximately $ 420 million, for an implied forecast adjusted Ebitda multiple for year 2020 just above 8 times.

  • Kingfisher acquired NeedHelp for a total cash consideration of c.€10 million

    Kingfisher acquired NeedHelp for a total cash consideration of c.€10 million

    Kingfisher acquired NeedHelp, one of Europe’s leading home improvement services marketplaces, for a total cash consideration of c.€10 million.

    As part of the transaction, Guillaume de Kergariou, the founder of NeedHelp, has reinvested proceeds from the sale in a 20% interest in the business, resulting in Kingfisher owning 80%.

    NeedHelp is an B2B2C online platform that connects customers who need home improvement help, either in-store or online, with vetted professional tradespeople and other skilled experts.

    While most of its business is currently in France, NeedHelp also operates in Switzerland and has recently expanded into Germany, Belgium, Austria, and the Netherlands.

    Through its open architecture, NeedHelp already provides its services to customers in more than 500 stores including Kingfisher’s French businesses, Castorama and Brico Dépôt.

    Along with developing NeedHelp’s business in Europe with existing and new retail partners, Kingfisher also plans to roll out the platform in the UK and Poland. In the UK,

  • Kahoot! acquires Drops, one of the world’s fastest growing language platforms

    Kahoot! acquires Drops, one of the world’s fastest growing language platforms

    Kahoot! announced the acquisition of Drops, one of the fastest growing language platforms in the world.

    Kahoot! is acquiring 100% of the shares in Drops for a total consideration reflecting an enterprise value of USD 31 million on a cash and debt-free basis, in addition to a performance-based element up to USD 19 million depending on Drops performance in 2020-2022.

    The consideration will be settled in a combination of cash and Kahoot! shares.

    Drops is one of the fastest-growing language platforms in the world, with 42 languages and 25 million users since launch and counting.

    In 2018, Google named Drops the best app of the year, and in 2019 Fast Company named Drops as one of the top 10 most innovative education companies in the world.

    For 2019, Drops reported gross revenue of EUR 6.3m with approx. 40% cash conversion.

    Language learning has exploded

    Language learning has exploded due to globalization as well as, more recently, due to the surge in e-learning as businesses and schools adapt to remote learning.

    As a result, the global digital language learning market size is expected to reach more than $8 billion by 2025.

  • Smart Protection closed a Series B funding round worth €10 million

    Smart Protection closed a Series B funding round worth €10 million

    Smart Protection has closed a Series B funding round worth €10 million, co-led by the Dutch firm Knight Capital, the Spanish-Israeli Swanlaab Venture Factory, alongside CDTI.

    Existing investors Nauta Capital, JME Ventures, Bankinter, Big Sur Ventures and Telefónica, have also participated in the investment process.

    Smart Protection has now received funding totaling more than €20 million to combat piracy and counterfeiting on the internet through its technological platform.

    The Spanish company currently works with clients across 25 countries, and 76% of its income is generated from companies outside of Spain.

    Commenting on the investment Javier Perea, the CEO and co-founder, said, ”With this investment, we will accelerate our international expansion and broaden our technological solutions to protect brands from reputational damage and the loss of profits that counterfeits online cause.”