European startup funding H2 2020
Half-year report · 2020-07-01 – 2020-12-31 · vs H1 2020
Half-year
Summary
auto-generatedIn H2 2020, 1,950 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €30B, up 59.4% versus H1 2020. Debt rounds added a further €1.6B.
Deal count moved +47.2% versus H1 2020, with 959 named investors participating.
UK led by equity raised with €7.3B (24.1% of equity).
Fintech was the most-funded sector at €5.2B in equity (17.3%).
The ten largest rounds accounted for 22.6% of disclosed capital, led by Allegro's €2.0B.
457 exits were recorded this half-year worth a combined €161B.
Equity funding
€30B
▲ +59.4%excl. debt & grants · +€1.6B debt
Funding rounds
1,950
▲ +47.2%Companies funded
1,878
▲ +42.7%Named investors
959
▲ +26.5%Exits
457
▲ +73.1%Provenance: 93% of 1,950 rounds disclosed an amount · 75% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +1.53%
Methodology →Investments
Funding within H2 2020
by monthFunding within H2 2020 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| 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- 1AllegroOther · Poland · Sep 2020€2.0B
- 2NorthvoltOther · Sweden · Aug 2020€1.4B
- 3FarfetchGrowth/Late · UK · Nov 2020€1.1B
- 4KlarnaGrowth/Late · Sweden · Sep 2020€547M
- 5NorthvoltOther · Sweden · Sep 2020€514M
- 6AuxmoneyDebt · Germany · Nov 2020€418M
- 7StillfrontDebt · Sweden · Dec 2020€365M
- 8ArrivalGrowth/Late · UK · Nov 2020€337M
- 9SinchGrowth/Late · Sweden · Dec 2020€320M
- 10Auto1Other · Germany · Sep 2020€300M
Concentration
top 10 deals22.6%
of disclosed capital came from the ten largest rounds.
Top 10 total
€7.3B
Period total
€32B
Countries
Top countries
equity raisedH2 2020 — top countries — interactive chart.
Data table
| H2 2020 — top countries | |
|---|---|
| UK | €7.3B |
| Sweden | €4.3B |
| Israel | €3.8B |
| Germany | €3.0B |
| France | €2.5B |
| Poland | €2.1B |
| Switzerland | €1.1B |
| Netherlands | €1.1B |
| Spain | €877M |
| Finland | €692M |
Capital by country
share of equityH2 2020 — capital by country — interactive chart.
Data table
| H2 2020 — capital by country | |
|---|---|
| UK | €7.3B |
| Sweden | €4.3B |
| Israel | €3.8B |
| Germany | €3.0B |
| France | €2.5B |
| Poland | €2.1B |
| Switzerland | €1.1B |
| Netherlands | €1.1B |
| Spain | €877M |
| Finland | €692M |
| Other | €3.5B |
Geographic distribution
European countries shown · click a countryH2 2020 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedH2 2020 — top sectors — interactive chart.
Data table
| H2 2020 — top sectors | |
|---|---|
| Fintech | €5.2B |
| Software | €4.8B |
| Healthtech | €3.7B |
| E-commerce | €3.2B |
| Cleantech | €3.0B |
| Transportation | €2.6B |
| Cybersecurity | €1.9B |
| Fashion | €1.4B |
| Foodtech | €1.3B |
| AI | €1.1B |
Capital by sector
share of equityH2 2020 — capital by sector — interactive chart.
Data table
| H2 2020 — capital by sector | |
|---|---|
| Fintech | €5.2B |
| Software | €4.8B |
| Healthtech | €3.7B |
| E-commerce | €3.2B |
| Cleantech | €3.0B |
| Transportation | €2.6B |
| Cybersecurity | €1.9B |
| Fashion | €1.4B |
| Other | €11B |
Stages
Funding by stage
total euro raised by round typeH2 2020 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €51M |
| Seed | €1.1B |
| Series A | €3.6B |
| Series B | €3.2B |
| Series C | €3.2B |
| Series D+ | €3.0B |
| Early VC | €171M |
| Growth/Late | €4.6B |
| Debt | €1.6B |
| Grant | €92M |
| Crowdfunding | €92M |
| ICO | €12M |
| Other | €11B |
Exits
Exit activity
457
exits recorded
€161B
combined disclosed value
Exits breakdown
by typeH2 2020 — exits by type — interactive chart.
Data table
| H2 2020 — exits by type | |
|---|---|
| Acquisition | 383 |
| IPO | 28 |
| Unknown | 20 |
| Leveraged buyout | 14 |
| Merger | 12 |