Welcome to the latest edition of the Silverpeak B&C Financing Report, offering a comprehensive bi-annual analysis of the funding landscape for Series B and C rounds in European tech companies.
Our dataset encompasses European Series B and C fundraising rounds exceeding €5m, meticulously qualified and segmented to reveal insights and trends over time.
Key findings:
- Positive trends in Series C
The market is being driven by large Series C deals, some exceeding €100m, while Series B rounds have declined in both deal size and volume.
- AI and fintech lead the charge
AI continues to lead in deeptech innovation, and fintech is making a strong comeback, securing top spots in both deal value and count. New growth in femtech and mobilitytech is also evident.
- Geographical shifts
The UK and Germany emerged as leaders in fundraising, with mega-rounds boosting their positions. Q3 saw the UK dominating in total deal count, while Germany led in deal size.
- Challenges in US investor participation
The market has seen a sharp drop in US repeat investors, a key factor in the ongoing uncertainty and sporadic investment activity across Europe.
- Stable pre-money valuations and dilution levels
Despite the seemingly volatile market, valuation and dilution levels have shown signs of stability, with moderate increases in pre-money valuations compared to 2023