What the top ten RegTech deals across the Europe tells us about the continent’s thriving ecosystems.
The top ten European RegTech deals outside of the UK collectively raised just over $234.6m during the first six months of 2020. The RegTech industry on the continent has been heavily dominated by the UK, with companies in the country completing more than 40% of all transactions in the region.
However, if we focus on RegTech activity in rest of Europe we can see thriving local RegTech ecosystems emerging with eight countries represented in the list of top ten deals in H1 2020.
Ireland was the only country to have more than one company included in the list. The country is the fourth largest exporter of financial services in the world and home to major operations for nine of the world’s top ten tech companies.
As such, Irish RegTech startups benefit from a uniquely concentrated and collaborative ecosystem and the opportunity to develop, test and deploy solutions that work for global players. The largest transaction in the country during the first half of the year was raised by edgescan, a vulnerability management SaaS solution, which raised €10.5 from Business Growth Fund.
Companies from Germany, France and Denmark round off the top three spots. The biggest deal was completed by Collibra, a data security and compliance platform, which raised $112.5m in a Series F round led by Index Ventures, ICONIQ Capital and Durable Capital Partners. The latest injection of capital valued the business at $2.3bn and the company is planning to use the funds to expand its business reach.
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