European startup funding Q4 2019
Quarterly report · 2019-10-01 – 2019-12-31 · vs Q3 2019
Quarterly
Summary
auto-generatedIn Q4 2019, 974 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €10B, up 45.1% versus Q3 2019. Debt rounds added a further €3.6M.
Deal count moved +196.0% versus Q3 2019, with 635 named investors participating.
UK led by equity raised with €2.3B (23.2% of equity).
Software was the most-funded sector at €3.0B in equity (29.8%).
The ten largest rounds accounted for 20.3% of disclosed capital, led by Frontier Car Group's €367M.
78 exits were recorded this quarter worth a combined €7.5B.
Equity funding
€10B
▲ +45.1%excl. debt & grants · +€3.6M debt
Funding rounds
974
▲ +196.0%Companies funded
969
▲ +195.4%Named investors
635
▲ +137.8%Exits
78
▲ +90.2%Provenance: 88% of 974 rounds disclosed an amount · 75% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +5.99%
Methodology →Investments
Funding within Q4 2019
by monthFunding within Q4 2019 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| Oct | €10B | 958 |
| Nov | €1.3M | 1 |
| Dec | €73M | 15 |
Biggest deals
top 10 by amount- 1Frontier Car GroupSeries D+ · Sweden · Oct 2019€367M
- 2CelonisSeries C · Germany · Oct 2019€266M
- 3PicnicSeries C · Netherlands · Oct 2019€250M
- 4HasteeSeries A · UK · Oct 2019€248M
- 5A Cloud GuruOther · UK · Oct 2019€236M
- 6RiskifiedSeries D+ · Israel · Oct 2019€152M
- 7GlovoSeries D+ · Spain · Oct 2019€150M
- 8commercetoolsOther · Germany · Oct 2019€133M
- 9VtexOther · UK · Oct 2019€129M
- 10VintedSeries D+ · Lithuania · Oct 2019€128M
Concentration
top 10 deals20.3%
of disclosed capital came from the ten largest rounds.
Top 10 total
€2.1B
Period total
€10B
Countries
Top countries
equity raisedQ4 2019 — top countries — interactive chart.
Data table
| Q4 2019 — top countries | |
|---|---|
| UK | €2.3B |
| Israel | €1.8B |
| Germany | €1.7B |
| France | €863M |
| Sweden | €722M |
| Netherlands | €493M |
| Switzerland | €418M |
| Spain | €414M |
| Ireland | €232M |
| Belgium | €191M |
Capital by country
share of equityQ4 2019 — capital by country — interactive chart.
Data table
| Q4 2019 — capital by country | |
|---|---|
| UK | €2.3B |
| Israel | €1.8B |
| Germany | €1.7B |
| France | €863M |
| Sweden | €722M |
| Netherlands | €493M |
| Switzerland | €418M |
| Spain | €414M |
| Ireland | €232M |
| Belgium | €191M |
| Other | €1.0B |
Geographic distribution
European countries shown · click a countryQ4 2019 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedQ4 2019 — top sectors — interactive chart.
Data table
| Q4 2019 — top sectors | |
|---|---|
| Software | €3.0B |
| Fintech | €1.9B |
| Transportation | €1.2B |
| Healthtech | €1.0B |
| Cybersecurity | €730M |
| E-commerce | €424M |
| Media | €336M |
| Fashion | €332M |
| Edtech | €322M |
| HRtech | €292M |
Capital by sector
share of equityQ4 2019 — capital by sector — interactive chart.
Data table
| Q4 2019 — capital by sector | |
|---|---|
| Software | €3.0B |
| Fintech | €1.9B |
| Transportation | €1.2B |
| Healthtech | €1.0B |
| Cybersecurity | €730M |
| E-commerce | €424M |
| Media | €336M |
| Fashion | €332M |
| Other | €3.2B |
Stages
Funding by stage
total euro raised by round typeQ4 2019 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €11M |
| Seed | €529M |
| Series A | €1.9B |
| Series B | €2.1B |
| Series C | €1.5B |
| Series D+ | €1.2B |
| Early VC | €115M |
| Debt | €3.6M |
| Grant | €15M |
| Other | €2.8B |
Exits
Exit activity
78
exits recorded
€7.5B
combined disclosed value
Exits breakdown
by typeQ4 2019 — exits by type — interactive chart.
Data table
| Q4 2019 — exits by type | |
|---|---|
| Acquisition | 76 |
| IPO | 1 |
| Merger | 1 |