European startup funding Q3 2020
Quarterly report · 2020-07-01 – 2020-09-30 · vs Q2 2020
Quarterly
Summary
auto-generatedIn Q3 2020, 854 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €15B, up 74.1% versus Q2 2020. Debt rounds added a further €239M.
Deal count moved +33.2% versus Q2 2020, with 505 named investors participating.
Sweden led by equity raised with €3.0B (20.4% of equity).
Fintech was the most-funded sector at €2.4B in equity (16.3%).
The ten largest rounds accounted for 39.1% of disclosed capital, led by Allegro's €2.0B.
181 exits were recorded this quarter worth a combined €59B.
Equity funding
€15B
▲ +74.1%excl. debt & grants · +€239M debt
Funding rounds
854
▲ +33.2%Companies funded
846
▲ +32.2%Named investors
505
▲ +37.2%Exits
181
▲ +86.6%Provenance: 92% of 854 rounds disclosed an amount · 75% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +1.42%
Methodology →Investments
Funding within Q3 2020
by monthFunding within Q3 2020 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| Jul | €4.0B | 279 |
| Aug | €3.3B | 203 |
| Sep | €7.8B | 372 |
Biggest deals
top 10 by amount- 1AllegroOther · Poland · Sep 2020€2.0B
- 2NorthvoltOther · Sweden · Aug 2020€1.4B
- 3KlarnaGrowth/Late · Sweden · Sep 2020€547M
- 4NorthvoltOther · Sweden · Sep 2020€514M
- 5Auto1Other · Germany · Sep 2020€300M
- 6Karma KitchenSeries A · UK · Jul 2020€280M
- 7WiseOther · Estonia · Jul 2020€271M
- 8MiraklSeries D+ · France · Sep 2020€255M
- 9Next InsuranceSeries D+ · United States · Sep 2020€213M
- 10UiPathSeries D+ · Romania · Jul 2020€200M
Concentration
top 10 deals39.1%
of disclosed capital came from the ten largest rounds.
Top 10 total
€5.9B
Period total
€15B
Countries
Top countries
equity raisedQ3 2020 — top countries — interactive chart.
Data table
| Q3 2020 — top countries | |
|---|---|
| Sweden | €3.0B |
| UK | €2.2B |
| Poland | €2.0B |
| Israel | €1.4B |
| Germany | €1.3B |
| France | €1.3B |
| Netherlands | €544M |
| Finland | €489M |
| Switzerland | €422M |
| Spain | €419M |
Capital by country
share of equityQ3 2020 — capital by country — interactive chart.
Data table
| Q3 2020 — capital by country | |
|---|---|
| Sweden | €3.0B |
| UK | €2.2B |
| Poland | €2.0B |
| Israel | €1.4B |
| Germany | €1.3B |
| France | €1.3B |
| Netherlands | €544M |
| Finland | €489M |
| Switzerland | €422M |
| Spain | €419M |
| Other | €1.7B |
Geographic distribution
European countries shown · click a countryQ3 2020 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedQ3 2020 — top sectors — interactive chart.
Data table
| Q3 2020 — top sectors | |
|---|---|
| Fintech | €2.4B |
| E-commerce | €2.4B |
| Software | €2.3B |
| Cleantech | €2.2B |
| Healthtech | €2.0B |
| Cybersecurity | €847M |
| Transportation | €723M |
| Foodtech | €647M |
| Marketing | €645M |
| AI | €478M |
Capital by sector
share of equityQ3 2020 — capital by sector — interactive chart.
Data table
| Q3 2020 — capital by sector | |
|---|---|
| Fintech | €2.4B |
| E-commerce | €2.4B |
| Software | €2.3B |
| Cleantech | €2.2B |
| Healthtech | €2.0B |
| Cybersecurity | €847M |
| Transportation | €723M |
| Foodtech | €647M |
| Other | €3.8B |
Stages
Funding by stage
total euro raised by round typeQ3 2020 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €24M |
| Seed | €422M |
| Series A | €1.7B |
| Series B | €1.5B |
| Series C | €1.4B |
| Series D+ | €1.6B |
| Early VC | €120M |
| Growth/Late | €1.0B |
| Debt | €239M |
| Grant | €73M |
| Crowdfunding | €34M |
| Other | €7.0B |
Exits
Exit activity
181
exits recorded
€59B
combined disclosed value
Exits breakdown
by typeQ3 2020 — exits by type — interactive chart.
Data table
| Q3 2020 — exits by type | |
|---|---|
| Acquisition | 159 |
| IPO | 7 |
| Unknown | 6 |
| Leveraged buyout | 5 |
| Merger | 4 |