European startup funding Q1 2020
Quarterly report · 2020-01-01 – 2020-03-31 · vs Q4 2019
Quarterly
Summary
auto-generatedIn Q1 2020, 684 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €11B, up 4.2% versus Q4 2019. Debt rounds added a further €26M.
Deal count moved -29.8% versus Q4 2019, with 470 named investors participating.
Germany led by equity raised with €3.2B (30.3% of equity).
E-commerce was the most-funded sector at €2.9B in equity (27.8%).
The ten largest rounds accounted for 45.3% of disclosed capital, led by Delivery Hero's €2.3B.
167 exits were recorded this quarter worth a combined €26B.
Equity funding
€11B
▲ +4.2%excl. debt & grants · +€26M debt
Funding rounds
684
▼ -29.8%Companies funded
680
▼ -29.8%Named investors
470
▼ -26.0%Exits
167
▲ +114.1%Leading country
€3.2B
30.3% of equity
Leading sector
€2.9B
27.8% of equity
Provenance: 88% of 684 rounds disclosed an amount · 77% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +4.41%
Methodology →Investments
Funding within Q1 2020
by monthFunding within Q1 2020 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| Jan | €5.4B | 271 |
| Feb | €2.8B | 238 |
| Mar | €2.4B | 175 |
Biggest deals
top 10 by amount- 1Delivery HeroOther · Germany · Jan 2020€2.3B
- 2RevolutSeries D+ · UK · Feb 2020€461M
- 3Kilter FinanceGrowth/Late · UK · Mar 2020€450M
- 4Via TransportationOther · Israel · Mar 2020€364M
- 5GroverOther · Germany · Jan 2020€250M
- 6FarfetchOther · UK · Feb 2020€228M
- 7LiliumSeries C · Germany · Mar 2020€224M
- 8AcrelecOther · France · Jan 2020€202M
- 9KlarnaOther · Sweden · Jan 2020€182M
- 10OzonOther · Russia · Mar 2020€136M
Concentration
top 10 deals45.3%
of disclosed capital came from the ten largest rounds.
Top 10 total
€4.8B
Period total
€11B
Countries
Top countries
equity raisedQ1 2020 — top countries — interactive chart.
Data table
| Q1 2020 — top countries | |
|---|---|
| Germany | €3.2B |
| UK | €3.1B |
| France | €1.2B |
| Israel | €1.1B |
| Sweden | €643M |
| Switzerland | €247M |
| Belgium | €183M |
| Russia | €144M |
| Netherlands | €124M |
| Denmark | €101M |
Capital by country
share of equityQ1 2020 — capital by country — interactive chart.
Data table
| Q1 2020 — capital by country | |
|---|---|
| Germany | €3.2B |
| UK | €3.1B |
| France | €1.2B |
| Israel | €1.1B |
| Sweden | €643M |
| Switzerland | €247M |
| Belgium | €183M |
| Russia | €144M |
| Netherlands | €124M |
| Denmark | €101M |
| Other | €560M |
Geographic distribution
European countries shown · click a countryQ1 2020 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedQ1 2020 — top sectors — interactive chart.
Data table
| Q1 2020 — top sectors | |
|---|---|
| E-commerce | €2.9B |
| Fintech | €2.5B |
| Foodtech | €2.4B |
| Software | €1.6B |
| Transportation | €1.1B |
| Healthtech | €875M |
| Cybersecurity | €594M |
| Consumer | €407M |
| Media | €364M |
| Hardware | €310M |
Capital by sector
share of equityQ1 2020 — capital by sector — interactive chart.
Data table
| Q1 2020 — capital by sector | |
|---|---|
| E-commerce | €2.9B |
| Fintech | €2.5B |
| Foodtech | €2.4B |
| Software | €1.6B |
| Transportation | €1.1B |
| Healthtech | €875M |
| Cybersecurity | €594M |
| Consumer | €407M |
| Other | €2.7B |
Stages
Funding by stage
total euro raised by round typeQ1 2020 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €13M |
| Seed | €349M |
| Series A | €885M |
| Series B | €883M |
| Series C | €945M |
| Series D+ | €889M |
| Early VC | €246M |
| Growth/Late | €630M |
| Debt | €26M |
| Grant | €9.8M |
| Crowdfunding | €2.7M |
| Other | €5.7B |
Exits
Exit activity
167
exits recorded
€26B
combined disclosed value
Exits breakdown
by typeQ1 2020 — exits by type — interactive chart.
Data table
| Q1 2020 — exits by type | |
|---|---|
| Acquisition | 161 |
| Unknown | 3 |
| IPO | 2 |
| Leveraged buyout | 1 |