. SEEDTABLE

November 8th | #49

Hello again.

It's good to be back after a week off. I visited Vienna, Budapest and Berlin and let me say – Berlin is fantastic. I'll be back soon.

Quick ask: if you work in HR for a company in Germany, Spain, or Estonia, let's talk. We are working on something really, really cool.

And without further ado, here's today piece.

This week in Europe: Blooming Late report and the two sides of late stage funding

Later this week, Tech.eu released the Blooming Late, a 60-page report on the rise of late-stage funding for European tech scale-ups. It’s the third in a series of reports diving into capital funding in the EU tech ecosystem

Other than finding out that the €850 sweaters and €780 jumpers that Web Summit tried to pass as swag sold out before the conference was over, going through this report was one of the highlights of my week.

Today we are going to go over the key takeaways of the report, and as usual, wrap it up with a few (unoriginal) thoughts of my own.

Europe is growing – but we all know that

If you’ve followed this newsletter for a while (gracias!), you already know that the European tech ecosystem is growing by almost all quantifiable measures – capital raised, number of rounds, companies built, etc.

It’s every VC’s wet dream – up and to the right.

Source: State of European Tech Report

The third report in the series, titled Blooming Late, is focused entirely on something that’s been missing in Europe for a while – late-stage, growth capital and $100 million rouns.

In the last 12 months, companies like GetYourGuide, Deliveroo, Transferwise, Bolt (go Estonia!), Monzo, Revolut, OakNorth, UiPath and more have raised rounds of over $100 million.

“In Europe and Israel, there has been a steady increase in late-stage funding rounds for homegrown tech companies from 2015 to Q3 2019, with the last 12 months (Q4 2018 - Q3 2019 included) accounting for a major surge after a slight dip in the first half of 2018” – Blooming Late report

Truth be told, it’s great to see the ecosystem grow. And it’s even better to see it grow in different directions.

Even though fintech is clearly leading the way (Transferwise, Revolut, Monzo, N26, etc.), other industries like food delivery and transportation are throwing some