Money Buzz! Europa

Category: Investment

  • Klarna, $650M funding round. It’s now the highest-valued fintech in Europe

    Klarna, $650M funding round. It’s now the highest-valued fintech in Europe

    Klarna announced it has raised $650 million in an equity funding round, at a post money valuation of $10.65 billion, which ranks Klarna as the highest-valued private fintech in Europe and the 4th highest worldwide.  

    The funding round is led by Silver Lake, alongside GIC – Singapore’s sovereign wealth fund – as well as funds and accounts managed by BlackRock and HMI Capital.

    Concurrently, Merian Chrysalis, TCV, Northzone and Bonnier have acquired shares from existing shareholders.

    They will join current investors such as Sequoia Capital, Dragoneer, Permira, Commonwealth Bank of Australia, Bestseller Group and Ant Group in supporting Klarna’s future growth.

    The funding will help Klarna further invest in its unique shopping offering, continue to grow its global presence, and accelerate its strong momentum across all markets, especially in the US where the company is growing particularly rapidly and now has more than 9 million consumers. 

  • Keepit raises $30 million in the single largest Series-A SaaS investment in the Nordics

    Keepit raises $30 million in the single largest Series-A SaaS investment in the Nordics

    The Danish Backup-as-a-Service provider Keepit lands $30 million from growth investor One Peak, with the goal of increasing momentum both in Europe and the US.

    The round is the single largest SaaS investment in a bootstrapped company in the Nordics, according to Crunchbase.

    Keepit is a Backup-as-a-Service provider, specializing in protecting data from SaaS solutions such as Microsoft 365, Salesforce, Dynamics 365, and G Suite.

    This is a massive greenfield market worth $12 billion per year which is expected to continue growing at a 30% CAGR over the next five years.

    With the investment from One Peak, Keepit expects to double the numbers of employees in its offices in Copenhagen, Denmark and Lviv, Ukraine, as well as their satellite offices around the world, including the US.

  • QuadSAT closed the largest drone tech investment in Denmark

    QuadSAT closed the largest drone tech investment in Denmark

    QuadSAT, a company that is revolutionising test and measurement of satellite antennas, closed a €2 million Pre-Series A Investment, the largest venture investment in a Danish drone tech company in history.

    The round was led by Seraphim Capital, the world’s first venture fund dedicated to SpaceTech, Vaekstfonden, the Danish state’s investment fund, and Angel Investor, Helge Munk.

    The use of space is key to solving significant challenges faced in the world – from ensuring worldwide connectivity to providing data to solve environmental issues. As a multitude of sectors start looking toward space, the number of satellites in orbit will increase significantly in the next few years. 

    Andrian Buchi, CTO and co-founder, says: ”We see a high level of interest for our technology, not only in antenna measurements but also in other test solutions aimed specifically at higher frequencies and at the future mass deployment of mega-constellations.”

    To ensure the best fit between QuadSAT’s solution and the industry requirements, the team is working closely with SOMAP, a consortium of the world’s biggest Satellite Operators.

    Further, QuadSAT has recently completed contracts with the European Space Agency’s (ESA) program for supporting the development of advanced satcom products and services.

    QuadSAT future plans

    The investment round follows a seed round at the start of 2019. This pre-series A investment will accelerate product testing allowing QuadSAT to transition its current product, currently offered as a service, to be sold as a product for third party users.

    This will also allow QuadSAT to expand its UK research and development activities.

    QuadSAT plans to raise a Series A round within a year further expanding the revolution of antenna testing in the SATCOM industry.

  • Cyscale wants to get 300.000 euros by listing on SeedBlink

    Cyscale wants to get 300.000 euros by listing on SeedBlink

    Cyscale, a start-up that develops security solutions for data saved in the cloud, lists tomorrow, September 10, on SeedBlink, the largest crowdfunding platform in Southeast Europe.

    Cyscale management estimates that it will obtain 300.000 euros through this round, of which 200.000 euros from SeedBlink investors and 100.000 euros from the GapMinder VC fund – which is lead investor.

    Cyscale to go for a global expansion

    The amount of the money will be invested in the next 12 months in the development of the technical and marketing & sales team, but also for global expansion, mainly in the USA, Germany, England and the Netherlands.

    The financing round through SeedBlink is the second for Cyscale, the first, worth 100.000 euros, being received last year. The amount was invested by the GapMinder investment fund following the Techcelerator acceleration program.

    The four co-founders also invested about 100.000 euros in the two years since the launch of the company.

    The value of the company can increase 15 times in three years

    Currently, Cyscale is worth about two million euros, but with the new round of investment, the company’s value rises to 2.3 million euros, according to Cyscale officials.

    They also expect that in 2023 the value of the company could be 30 million euros, 15 times higher than at present.

    Possible grant for research, patent registration

    Cyscale will soon apply for 2.83 million euros in European grants under the Horizon 2020 program. The money will be allocated to research and development.

    Also, starting in 2021, the company’s management wants to register three patents in the area of ​​cloud technology. All patents will be registered abroad.

    In 2025 about 90% of company revenues will come from abroad

    Cyscale currently has over 50 corporate users, most of them belonging to the IT field. The management aims to reach over 1.000 customers in 2025.

    Earning new accounts, especially from abroad, will bring Cyscale’s revenue to about three million euros by the end of 2023 and 15 million euros in 2025.

    About 90% of Cyscale’s revenue in 2025 will be generated by customers abroad, according to management estimates.

    Cyscale is a company founded at the end of 2018 by Ovidiu Cical, Manuela Țicudean, Laura Cical and Andrei Milaș. The company from Cluj-Napoca develops protection software solutions for the information saved in the cloud and performs risk analysis of this data.

  • EIB lends up to EUR 10 million to Polish company Scope Fluidics

    EIB lends up to EUR 10 million to Polish company Scope Fluidics

    The European Investment Bank (EIB) has agreed to lend up to EUR 10 million to Scope Fluidics, a Polish medical technology company developing innovative products in the field of medical diagnostics.

    Scope Fluidics uses microfluidic technologies and focuses on rapid characterization of antibiotic resistance of bacteria and on ultra-fast detection of bacterial and viral pathogens (including COVID-19).

    The EIB financing will support the company’s efforts to develop new, efficient and affordable methods for detection of pathogens causing infectious diseases, including COVID-19.

    Apart from striving to aid the fight with COVID-19 pandemic, Scope Fluidics’ team is also focused on the Antimicrobial Resistance (“AMR”), which is one of the gravest threats to global health.

    Testing a broader range of infectious diseases may significantly increase the standard of care and the effectiveness of prevention of complications in the evolving pandemic.

  • Veolia to launch a shareholding plan reserved for employees

    Veolia to launch a shareholding plan reserved for employees

    Veolia Environnement announces the launch of a new shareholding plan for the group’s employees. This plan is offered to approximately 140.000 employees.

    The settlement and delivery of the new shares shall take place on December 17, 2020.

    This shareholding plan is part of the group’s policy of developing employee shareholding within the company.

    Through this plan, Veolia intends to associate its employees in France and abroad with the group’s development even more closely, by offering them the possibility of subscribing directly or indirectly for Veolia Environnement shares.

    The offer concerns a maximum nominal amount of 56.726.653 Euros (i.e. approximately 2% of the share capital).

    The new shares will carry current dividend right.

  • Assa Abloy sells Switzerland based CEDES to Capiton AG

    Assa Abloy sells Switzerland based CEDES to Capiton AG

    Assa Abloy has signed an agreement to sell its sensor technology business CEDES in Switzerland to Capiton AG.

    CEDES was established in 1986 and has some 320 employees and is a leading sensor technology company in the elevator and door industry.

    The company is headquartered in Landquart, Switzerland. Sales in 2019 amounted to about 51 MEUR.

    “I find it very satisfying that with capiton AG, CEDES and its employees and customers gain a committed long-term investor, creating new opportunities for the future and I wish them every success,” says Nico Delvaux, President and CEO of Assa Abloy.

    The divestiture is subject to customary closing conditions and is expected to close during the fourth quarter of 2020.

  • Indivumed exapands its clinical network in Asia, Europe and South America

    Indivumed exapands its clinical network in Asia, Europe and South America

    Hamburg based company, Indivumed announced the expansion of its clinical network in Asia, Europe and South America including six additional, large clinical systems.

    With the first sites in Japan and Korea, Indivumed strengthens its Asian footprint, adding to previous activities in Singapore and India.

    With these hospitals, more than 30 clinical systems from 10 countries and four continents are applying Indivumed’s standardized, proprietary processes that preserve the integrity of the tissue biology.

    The additional locations

    • Asia: Japan, Chiba (National Cancer Center Hospital East) and South Korea, Seoul (Yonsei University Healthcare System-Severance Hospital)
    • South America: Brazil, Salvador (AMO Clinics)
    • Europe: Spain, Lleida (Hospital Universitari Arnau de Vilanova), Spain, Madrid (Hospital Universitario Fundación Jiménez Díaz) and Spain, Santiago (Complejo Hospitalario Universitario de Santiago).

    Ongoing discussions include additional hospitals in Europe, US, Central and South America.

    Indivumed is a physicians-led, integrated global oncology company.

  • Libra Internet Bank bond issue will start trading on Bucharest Stock Exchange

    Libra Internet Bank bond issue will start trading on Bucharest Stock Exchange

    Libra Internet Bank bond issue will start trading on BVB Multilateral Trading System (MTS) on 3 September 2020.

    The bank attracted EUR 4.29mn, through a private placement for subordinated bonds, unsecured and denominated in EUR, and conducted on the capital market between March 17th and 23rd, 2020.

    There are 8.593 of bonds at a face value of EUR 500 at a 5% p.a. interest (payable on a half year basis).

    The private placement for Libra Internet Bank bonds was intermediated by TradeVille.

    The bonds were subscribed by 27 investors, of which 2 are institutional investors and 25 retail investors (one legal entity and 24 individuals).

  • Klassroom raised $3 million to expand from France to other countries

    Klassroom raised $3 million to expand from France to other countries

    Klassroom, the Paris-based company that reinvents parent-teacher communication in pre-kindergarten and all elementary school grades, raised a $3 million seed round.

    The round was led by Bpifrance and several angel investors including Jerome Lecat, CEO at Scality, and Andy Myers, President at Waterford.org and former executive at Renaissance Learning.

    This funding will enable Klassroom to accelerate growth in countries outside of France, including in the U.S. where more than 700 educators started using the app during the last school year without any significant investment in that market.

    Klassroom is already the leading app of its type in France with nearly one million users. It’s user community doubled in just under two months during school closures and the COVID-19 crisis.

    Klassroom provides a platform for remote learning, video-conferencing, and homework management in an intuitive format for parents and educators.

    When a teacher starts to use the app in one classroom, other teachers in the school join in very quickly and easily.

    Teachers can create a new class and they invite parents to access posts in the class feed including announcements, homework, videos, pictures of activities, polls, events, documents, and more.

    Level of parent engagement: 90% are monthly active users

    Parents can react to posts, contact the teacher for appointments, or initiate private conversations using tools that are designed to strengthen parent-teacher relationships while protecting the teacher’s time.

    Klassroom can translate all posts and private messages between parent and teacher into 100 different languages.

    Every parent or guardian can be involved – even across multiple households.

  • IDnow acquires Wirecard Communication Services

    IDnow acquires Wirecard Communication Services

    IDnow announced the signing of an agreement for the acquisition of Wirecard Communication Services. IDnow will retain the Leipzig location preserving the majority of employees.

    Wirecard Communication Services was established on April 29, 2003, and is part of the Wirecard Group.

    IDnow and Wirecard Communication Services have already been working together for more than five years.

    The first step will be to provide the employees with appropriate qualifications and to adapt the technical infrastructure.

    Following this realignment, the Leipzig location will be expanded in a targeted way and integrated into the IDnow processes in order to enable even faster implementation of projects as well as further technical development of the Ident services.

  • Hoist Group to acquire the shares in Acentic Holdings

    Hoist Group to acquire the shares in Acentic Holdings

    Hoist Group has agreed to acquire the shares in Acentic Holdings Ltd with the aim to deliver a greater proximity and a wider range of services to hotel customers across Europe, Middle East and Africa markets.

    Acentic will bring a number of flagship hotel groups as well as leading independent hotels that have been served successfully for many years with its IPTV and Digital Signage products.

    These 700+ Acentic hotel partners will now gain access to the much broader set of products offered by Hoist Group.

    Hoist’s services cover most digital touchpoints in a Guest’s Journey: Booking Engine, Pre-Check-in, PMS, Mobile Key, staff task management, Dashboard, etc. Moreover, hoteliers will be able to benefit from Hoist Group’s local staff presence in 20 offices across EMEA.

    In 2019 Acentic posted 28mn€ in annual turnover to Hoist Group’s 130mn€.