“Financial tech startups, including digital bank Kreditech and British financing platform Funding Circle, raised a total of €1.8 billion, 18 percent over the previous year. Meanwhile, e-commerce companies, including British aggregator for luxury goods Lyst, raised a combined €1 billion”, according to analysis prepared by POLITICO based on the report’s data.
Information provided by POLITICO showed that the accumulated funds contibuted to products
and services in health, food, games, and music industries.
Tech.eu report placed Germany and the UK at the top of the ranking for number of deals and capital raised. The report’s data show that “about half the venture-capital funding in Europe (plus Israel) went to German or British companies”. The remaining countries in the top five include Israel, Sweden and Spain.
In 2015 investors pumped €12 billion into over 1,500 companies. The European Tech Funding 2015 Report, indicates the German High-Tech Gründerfonds, Index Ventures, and the Scandinavian Northzone as the most active venture capital firms.
POLITICO highlights the report’s conclusions by stating that “more than half of the top 20 investment firms were also based in the UK or Germany, underlining their dominance”. Nevertheless, the report found that “while Germany ranked No. 1 for the number of tech startups attracting funding (275 versus 255 in Britain), U.K. tech companies raised more (€3.4 billion versus €2.7 billion in Germany)”.
As the report’s analysts did not have the data to compare their 2015’s findings to earlier years, POLITICO cited other reports that estimate Europe’s tech scene in 2014 to receive between €5 billion and €10.5 billion in funds.
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