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European fintech companies raised more capital in 2020 than any other industry vertical, driven by a number of huge growth rounds raised by Europe's largest fintech giants. Klarna raised $850M across two rounds, including a giant $650M round in September. Revolut raised $500M in February, while raised another large round of $150M in June. More than $20B has been invested into European fintech companies in the past two years alone. Enterprise software companies also continued to raise large sums of capital in 2020, led by companies such as Mirakl ($300M), UiPath ($225M), MessageBird ($200M) and Snyk ($200M). Capital invested into companies in the transportation and energy industry verticals was also strong, though at somewhat reduced levels compared to 2019. The UK's Cazoo raised a particularly noteworthy $310M Series D, just two years after founding. Sweden's Northvolt raised a further $600M and has now raised more than $1.6B in just three years.

Capital invested ($M) by industry

Dataset: 2020


  • 2020
All data excludes the following: biotech, secondary transactions, debt, lending capital, and grants. Please also note that the data excludes Israel. 2020 is annualised based on data to September 2020.