European startup funding 2020
Annual report · 2020-01-01 – 2020-12-31 · vs 2019
Annual
Summary
auto-generatedIn 2020, 3,275 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €49B, up 33.6% versus 2019. Debt rounds added a further €1.8B.
Deal count moved +21.7% versus 2019, with 1,471 named investors participating.
UK led by equity raised with €13B (25.9% of equity).
Fintech was the most-funded sector at €9.1B in equity (18.4%).
The ten largest rounds accounted for 18.7% of disclosed capital, led by Delivery Hero's €2.3B.
721 exits were recorded this year worth a combined €193B.
Equity funding
€49B
▲ +33.6%excl. debt & grants · +€1.8B debt
Funding rounds
3,275
▲ +21.7%Companies funded
3,108
▲ +19.9%Named investors
1,471
▼ -5.8%Exits
721
▲ +97.0%Provenance: 92% of 3,275 rounds disclosed an amount · 76% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +1.79%
Methodology →Investments
Funding within 2020
by monthFunding within 2020 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| Jan | €5.4B | 271 |
| Feb | €2.8B | 238 |
| Mar | €2.4B | 175 |
| Apr | €2.7B | 214 |
| May | €3.0B | 204 |
| Jun | €3.1B | 223 |
| Jul | €4.0B | 279 |
| Aug | €3.3B | 203 |
| Sep | €7.8B | 372 |
| Oct | €4.3B | 345 |
| Nov | €6.5B | 382 |
| Dec | €6.1B | 369 |
Biggest deals
top 10 by amount- 1Delivery HeroOther · Germany · Jan 2020€2.3B
- 2AllegroOther · Poland · Sep 2020€2.0B
- 3NorthvoltOther · Sweden · Aug 2020€1.4B
- 4FarfetchGrowth/Late · UK · Nov 2020€1.1B
- 5KlarnaGrowth/Late · Sweden · Sep 2020€547M
- 6NorthvoltOther · Sweden · Sep 2020€514M
- 7RevolutSeries D+ · UK · Feb 2020€461M
- 8TravelportOther · UK · May 2020€461M
- 9Kilter FinanceGrowth/Late · UK · Mar 2020€450M
- 10AuxmoneyDebt · Germany · Nov 2020€418M
Concentration
top 10 deals18.7%
of disclosed capital came from the ten largest rounds.
Top 10 total
€9.6B
Period total
€51B
Countries
Top countries
equity raised2020 — top countries — interactive chart.
Data table
| 2020 — top countries | |
|---|---|
| UK | €13B |
| Germany | €7.7B |
| Israel | €6.1B |
| Sweden | €5.4B |
| France | €4.7B |
| Poland | €2.2B |
| Switzerland | €1.7B |
| Netherlands | €1.4B |
| Spain | €1.1B |
| Finland | €1.0B |
Capital by country
share of equity2020 — capital by country — interactive chart.
Data table
| 2020 — capital by country | |
|---|---|
| UK | €13B |
| Germany | €7.7B |
| Israel | €6.1B |
| Sweden | €5.4B |
| France | €4.7B |
| Poland | €2.2B |
| Switzerland | €1.7B |
| Netherlands | €1.4B |
| Spain | €1.1B |
| Finland | €1.0B |
| Other | €5.3B |
Geographic distribution
European countries shown · click a country2020 — geographic distribution — interactive chart.
Industries
Top sectors
equity raised2020 — top sectors — interactive chart.
Data table
| 2020 — top sectors | |
|---|---|
| Fintech | €9.1B |
| Software | €7.9B |
| E-commerce | €6.4B |
| Healthtech | €6.1B |
| Transportation | €4.2B |
| Foodtech | €3.8B |
| Cleantech | €3.3B |
| Cybersecurity | €3.2B |
| Fashion | €1.8B |
| Media | €1.7B |
Capital by sector
share of equity2020 — capital by sector — interactive chart.
Data table
| 2020 — capital by sector | |
|---|---|
| Fintech | €9.1B |
| Software | €7.9B |
| E-commerce | €6.4B |
| Healthtech | €6.1B |
| Transportation | €4.2B |
| Foodtech | €3.8B |
| Cleantech | €3.3B |
| Cybersecurity | €3.2B |
| Other | €18B |
Stages
Funding by stage
total euro raised by round type2020 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €70M |
| Seed | €1.9B |
| Series A | €5.6B |
| Series B | €5.5B |
| Series C | €5.6B |
| Series D+ | €4.9B |
| Early VC | €1.1B |
| Growth/Late | €5.5B |
| Debt | €1.8B |
| Grant | €168M |
| Crowdfunding | €131M |
| ICO | €12M |
| Other | €19B |
Exits
Exit activity
721
exits recorded
€193B
combined disclosed value
Exits breakdown
by type2020 — exits by type — interactive chart.
Data table
| 2020 — exits by type | |
|---|---|
| Acquisition | 628 |
| Unknown | 32 |
| IPO | 30 |
| Leveraged buyout | 18 |
| Merger | 13 |