Firms & Funds

Data spotlight: 22 venture-backed companies in U.K. lead Europe in January

-
A picture illustration taken with the multiple exposure function of the camera shows a one Euro coin and a map of Europe, January 9, 2013. The cost of living in the euro zone rose more than expected in December but remained benign enough to allow a possible cut in interest rates in 2013 to support the bloc's feeble economy. The European Central Bank's Governing Council meets on Jan. 10, with policymakers appearing unwilling to countenance a rate cut so early in the year. Photo courtesy Reuters /Kai Pfaffenbach

The United Kingdom in January saw 22 companies raise nearly €267 million ($282 million) to lead all European nations in venture activity, according to a VCJ analysis of data from Thomson Reuters. (See table below.)

The U.K. total was bolstered by Funding Circle, a U.K.-based marketplace lending platform focused on small business. The company raised €94 million ($100 million).

Investors in Funding Circle included a mix of U.S. and international investors, including Accel Partners, Mail.Ru Group, Index Ventures, Ribbit Capital, Rocket Internet, Sands Capital Management, Temasek Holdings (Private) and Union Square Ventures.

Germany ranked second in the month, with 21 deals that combined raised about €205 million ($217 million).

Only three Austrian startups raised capital in the month, but the total raised exceeded €191 million ($202 million). That’s thanks to the €177 million ($187 million) round raised by the software-testing and quality-assurance company Tricentis Technology & Consulting, which is backed by Insight Venture Partners.

In January, France saw 21 startups raise €131 million ($138 million).

Download Data in Excel: European VC-backed deals (January 2017)

Photo of a one Euro coin and a map of Europe courtesy of Reuters/Kai Pfaffenbach