In 2022, Europe posted its second-biggest year ever for newly minted unicorns, but the continuing recession could slow further creation.
A total of 46 European and Israeli companies crossed the €1 billion threshold last year, according to PitchBook data. Companies that include payment network provider Satispay and edtech specialist Multiverse were among those joining the continent’s unicorn herd.
Investors predict that conditions will remain tough for the foreseeable future, as challenges that emerged last year, such as rising interest rates and inflation, continue into 2023. And as valuations become more realistic , fewer companies are likely to achieve it. the mark of 1,000 million euros than in recent years.
That being said, venture capitalists are still sitting on a mountain of dry dust and will continue to place big bets on startups they see as future winners.
We have compiled a short list of some of the VC-backed companies that are currently valued at over €500 million and could be next to join the ranks of €1 billion+ startups in Europe and Europe. Israel.
Most recent post-money valuation: €610.6 million (2022)
Billions of people around the world already use social media on a daily basis, with the market expected to grow to $777.64 billion by 2026, according to The Business Research Company. One startup looking to share that growth is Paris-based BeReal.
Described by Forbes in December as “the social media app of the year,” BeReal’s selling point is authenticity. The app only allows users to post photos once a day and without filters. Though dwarfed by the likes of Instagram, the company is growing rapidly and has gained 73.5 million monthly active users and 20 million daily users since its launch in 2020.
BeReal’s most recent funding round brought its valuation to over €600 million. His sponsors include Andreessen Horowitz, Accel and DST Global.
Most recent post-money valuation: €537.2 million (2022)
Investor appetite for climate tech startups intensified last year, with the sector one of the few to see record levels of funding: €5.3bn in 2022 compared to €5.2bn in 2021, according to PitchBook data.
Most venture capitalists predict another strong year for trading as the popularity of the sector grows. One area that is drawing interest is carbon capture, which is the mission of UK-based Carbon Clean.
Founded in 2009, Carbon Clean’s technology is designed to capture, store and use carbon dioxide in a variety of industries, including steel and refineries. In May, the startup secured a $150 million Series C led by Chevron and backed by Samsung Ventures and Wave Equity Partners, among others.
Most recent post-money valuation: €507.8 million (2022)
HR technology has been a staple for venture capital investments. The sector experienced a boom during the pandemic that resulted in several new unicorns, such as Personio and Factorial.
Based in Paris, Malt offers an independent consulting platform that currently has more than 360,000 freelancers and 40,000 clients. In 2021, the company raised €80 million in a round led by Goldman Sachs Growth Equity and Eurazeo.
Due to the recession, more companies are looking to save money by reducing the number of employees. This means that there is a growing need to outsource projects that can no longer be done in-house. Add to that the fact that more people may be turning to freelancing to wait until their next job, and Malt may see benefits on both fronts.
Most recent post-money valuation: €953M (2021)
Private equity allocations have increased in recent years and Berlin-based Moonfare seeks to democratize entry. The startup offers individual investors and advisers access to PE funds for as little as $125.
Last year, the firm doubled its AUM to more than 2 billion euros and registered more than 40,000 users. In late 2021, it secured a $125 million Series C led by Insight Partners.
With the current volatility in the public markets, Moonfare expects more investors to diversify their portfolios by putting money into PE, which could boost the company’s numbers.
Most recent post-money valuation: €678.7 million (2021)
Fraud prevention is a top priority for most businesses as cyberattacks and scams continue to rise.
London-based Quantexa offers software that provides a contextual view of internal and external data, which can help address challenges related to financial crime, customer intelligence, credit risk and fraud.
The company most recently raised $153 million in July 2021 in a round led by Warburg Pincus. Its clients include banks, insurers and government authorities.
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