February Funding Update: Venture Investing in European B2B Software

By Diederik Ingen Housz, Diego Le Grand and Tijs Bellers

After the positive response to our 2021 Funding Report, we are excited to share our monthly follow-up. The aim is to give you a quick snapshot of the funding activity of last month. We hope you enjoy it.


Over the course of February, European B2B software companies:

  1. Were funded across 110 deals.

  2. Attracted 2.6B in total funding, minting six new unicorns.


In the European B2B software landscape, fewer but bigger rounds have been raised in February with an average round size of 23M. Interestingly enough, the traditional EU Software hubs ‘only’ accounted for 58% of all funding. This was mainly because five out of the six new unicorn rounds were raised outside these hubs: Relex Solutions (Finland), Scandit (Switzerland), MindMaze (Switzerland), Dune Analytics (Norway) and Scalapay (Italy).


The ‘Top 5’ largest rounds* in February were raised by:

1. Relex Solutions

€ 500 M

2. Scalapay

€ 194 M

3. Genesis

€ 182 M

4. GWI

€ 164 M

5. Scandit

€ 136 M

*Data on Dollar-Rounds have been converted to Euros at a 1.10 EUR/USD rate.


See the full report below or click here.