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1. TRACXN TOP BUSINESS MODELS REPORT
January 20, 2022
EUROPE TECH

2. Europe Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Contents
EuropeEurope Tech Funding - Overview 3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. Europe Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Funding in last 1 year
3
Online Grocery $9.4B
Banking Tech $7.5B
Payments $7.0B
Energy Storage Tech $5.2B
Alternative Lending $5.1B
Food Tech $4.5B
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
Seedcamp
HTGF
63
28
27
Early
Stage
Bpifrance
Business Growth Fund
Mercia
28
23
23
Late
Stage
SoftBank Vision Fund
Accel
Insight Partners
32
20
20
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Northvolt
(2015, )
$2.8B -
Unattributed
Glovo
(2015, )
$2.5B - Series F
Trendyol
(2009, )
$1.5B - Series D
Checkout
(2012, )
$1.0B - Series D
Celonis
(2011, )
$1.0B - Series D
Klarna
(2005, )
$1.0B - Series H
Gorillas
(2018, )
$950M - Series C
Trade Republic
(2015, )
$900M - Series C
N26
(2013, )
$900M - Series E
SumUp
(2012, )
$895M - Series D
Mollie
(2004, )
$800M - Series C
Revolut
(2015, )
$800M - Series E
London (22%)
Berlin (10%)
Paris (8%)
Stockholm (6%)
Munich (4%)
Others (49%)

4. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Europe Tech - Top Funded Business Models - last 1 year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1▲2 Food Ordering Platforms $3.6B 6 Glovo | $2.5B | Series F Link
2<> 0 Digital Native Banks $3.3B 14 N26 | $900M | Series E Link
3▲68 Hyperlocal Delivery $3.0B 7 Glovo | $2.5B | Series F Link
4▲9 Lithium Ion Batteries $2.8B 12 Northvolt | $2.8B | Unattributed Link
5▲4 Business Payments Solutions $2.1B 15 Checkout | $1.0B | Series D Link
6▼2 Internet First Point of Sale Financing $2.1B 15 Klarna | $1.0B | Series H Link
7▲34 Multi Products Marketplaces $1.9B 8 Trendyol | $1.5B | Series D Link
8▼7 Drugs for Multiple Cancer Types $1.8B 49 Sotio | $317M | Series D Link
9▲19 Car Ride Hailing $1.4B 4 Bolt | $714M | Series E Link
10▲7 Satellite Communication Services $1.4B 3 OneWeb | $550M | Series F Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Europe Tech - Top Funded Business Models - last 1 year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11-- Process Mining $1.0B 1 Celonis | $1.0B | Series D Link
12▲309 Corporate Travel Expense Management $977M 15 Pleo | $200M | Series C Link
13▲337 Corporate Travel & Expense Cards $951M 12 Pleo | $200M | Series C Link
14-- POS Payment Terminals $905M 4 SumUp | $895M | Series D Link
15▲392 Electric Vehicle Charging Network Operators $895M 12 IONITY | $791M | Series B Link
16▲59 Online Business Payments $872M 15 Mollie | $800M | Series C Link
17▲68 Crypto Financial Services $866M 17 Celsius Network | $750M | Series B Link
18▲18 Internet-First Property and Casualty Insurers $772M 7 Wefox | $650M | Series C Link
19▲13 Customer Journey Analytics $756M 6 ContentSquare | $500M | Series E Link
20▲17 Cognitive Robotic Process Automation $750M 2 UiPath | $750M | Series F Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Europe Tech - Top Funded Business Models - last 1 year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21▲36
Internet First Banks for Businesses with Partner
Bank's License
$737M 12 Qonto | $552M | Series D Link
22▲684 NFT Based Fantasy Soccer Platforms $730M 2 Sorare | $680M | Series B Link
23▲1670 Electric Car Manufacturers $727M 6 Polestar | $550M | Unattributed Link
24▼12 Communication Platform as a Service $700M 1 MessageBird | $700M | Series C Link
25▲8 Cheminformatics Software $693M 7 Exscientia | $225M | Series D Link
26▲468 Online Subscription Based K-12 Academic Tutoring $666M 3 GoStudent | $340M | Series D Link
27-- Social Trading Platforms for Stocks $660M 2 eToro | $650M | Series F Link
28▲90 Insurance Agency Management $650M 2 Wefox | $650M | Series C Link
29-- Bus Aggregators $650M 1 FlixBus | $650M | Series G Link
30▲161 Internet First Business Loans Marketplace $646M 7 MarketFinance | $383M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Europe Tech - Top Funded Business Models - last 1 year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31▲9 Security Testing $621M 4 Snyk | $300M | Series E Link
32▲27 On Demand Staffing Platform $619M 2 Jobandtalent | $500M | Series E Link
33▲17 Surgical Robots $610M 3 CMR Surgical | $600M | Series D Link
34▲165 Mobile Casual Game Developers $599M 21 Dream Games | $225M | Series C Link
35▲338 Cryptocurrency Exchanges $583M 17 Blockchain | $300M | Series C Link
36▲42 Business Bank Accounts $582M 2 Qonto | $552M | Series D Link
37▲102 Internet First Corporate Credit Card Issuers $571M 7 Swile | $200M | Series D Link
38▼13 Marketplaces Software Suite $555M 1 Mirakl | $555M | Series E Link
39▼13 B2B Marketplaces Software Suite $555M 1 Mirakl | $555M | Series E Link
40▲210 Payroll Management $551M 12 PayFit | $289M | Series E Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Europe Tech - Top Funded Business Models - last 1 year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41▲492 P2P Wallet Remittance $528M 9 Zepz | $292M | Series E Link
42▲221 Payroll Management Solutions $518M 10 PayFit | $289M | Series E Link
43▲100 Cryptocurrency Trading Platforms $512M 17 Bitpanda | $263M | Series C Link
44-- B2C Used Cars Marketplaces $504M 2 CarNext | $475M | Series D Link
45▲902 Music Licensing Marketplace $474M 3 Epidemic Sound | $450M | Series D Link
46▼24 Core Banking Platforms $466M 2 Mambu | $266M | Series E Link
47▼31 Free Float Electric Kick Scooter Rentals $457M 9 TIER | $200M | Series D Link
48▼14 Web Based Platform for Doctor Consultation $456M 16 KRY | $317M | Series D Link
49▼43 Virtual Events $456M 4 Hopin | $450M | Series D Link
50▼20 Life Sciences Research Services $452M 24 Evox Therape.. | $96.0M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Food Ordering Platforms - Europe
01
9
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$3.6B (▲238%)
6( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
29
$9.6B
64
4
306
5
Food Tech (Wolt)
(# Cos: 3147 | $12.7B)
Food Discovery and Ordering (Glovo)
(# Cos: 1067 | $10.1B)
Restaurant Aggregator (Deliveroo)
(# Cos: 452 | $9.7B)
Platform Delivered (Delivery Hero)
(# Cos: 306 | $9.6B)
Delivery Hero
(2011, $1.8B)
Deliveroo
(2013, $2.7B)
Glovo
(2015, $3.7B)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Glovo (2015)
$2.5B - Series F - Jan 2022
Wolt (2014)
$536M - Series E - Jan 2021
Glovo (2015)
$528M - Series F - Apr 2021
Boohfood (2019)
$11.9M - Series B - Jun 2021
Alorsfaim (2018)
$4.7M - Seed - Oct 2021
Broniboy (2017)
$1.4M - Seed - May 2021

10. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Digital Native Banks - Europe
02
10
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$3.3B (▲174%)
14(▲40%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$7.1B
16
1
43
7
Banking Tech (Onfido)
(# Cos: 1940 | $18.9B)
Internet First Banks (Tinkoff Bank)
(# Cos: 432 | $10.6B)
Digital Native Banks (Monzo)
(# Cos: 92 | $8.3B)
Diversified (Revolut)
(# Cos: 43 | $7.1B)
Revolut
(2015, $2.1B)
Monzo
(2015, $1.2B)
Tinkoff Bank
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
N26 (2013)
$900M - Series E - Oct 2021
Revolut (2015)
$800M - Series E - Jul 2021
Monzo (2015)
$475M - Series H - Dec 2021
Starling Bank (2014)
$376M - Series D - Mar 2021
Bunq (2013)
$231M - Series A - Jun 2021
Allica Bank (2017)
$147M - Series B - Nov 2021
Starling Bank (2014)
$69.2M - Series D - Apr 2021
View all 14 Funding Rounds on Tracxn Platform

11. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Glovo (2015)
$2.5B - Series F - Jan 2022
Glovo (2015)
$528M - Series F - Apr 2021
Peyk (2018)
$1.7M - Angel - Mar 2021
Pedal Me (2017)
$834K - Seed - Apr 2021
DelivrMe (2018)
$349K - Seed - Apr 2021
Metrobi (2015)
Undisclosed - Seed - Aug 2021
Zepto Express (2015)
Undisclosed - Seed - Jun 2021
Hyperlocal Delivery - Europe
03
11
Back to index
Logistics Tech (Sorted)
(# Cos: 4897 | $9.9B)
Parcel (Gophr)
(# Cos: 828 | $4.8B)
Hyperlocal Delivery (Glovo)
(# Cos: 289 | $3.7B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$3.0B (▲2406%)
7(▲133%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$3.7B
55
1
289
2
Glovo
(2015, $3.7B)
Shutl
(2008, $10.2M)
Stuart
(2015, $23.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

12. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Lithium Ion Batteries - Europe
04
12
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$2.8B (▲360%)
12(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
11
$4.8B
32
4
125
5
Energy Storage Tech (Delphi Automotive)
(# Cos: 1538 | $11.3B)
Battery (TWAICE)
(# Cos: 251 | $5.3B)
Secondary Battery (Battrion)
(# Cos: 148 | $4.9B)
Lithium Ion (Northvolt)
(# Cos: 125 | $4.8B)
Northvolt
(2015, $4.4B)
Battrion
(2015, $7.2M)
InoBat Auto
(2019, $11.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Northvolt (2015)
$2.8B - Unattributed - Jun 2021
Britishvolt (2019)
$52.2M - Series B - Feb 2021
Britishvolt (2019)
$36.3M - Series B - Jul 2021
Nyobolt (2020)
$10.6M - Series A - Feb 2021
Aceleron (2018)
$6.8M - Series A - Jan 2022
LionVolt (2020)
$4.5M - Seed - Nov 2021
Aceleron (2018)
$3.4M - Series A - Oct 2021
View all 12 Funding Rounds on Tracxn Platform

13. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Checkout (2012)
$1.0B - Series D - Jan 2022
SaltPay (2019)
$500M - Series C - May 2021
SaltPay (2019)
$345M - Series C - Nov 2021
DNA Payments (2018)
$141M - Series D - Jun 2021
Viva Payments (2010)
$80.0M - Series B - Apr 2021
Pomelo Pay (2017)
$10.0M - Series A - Nov 2021
UNIPaaS (2008)
$10.0M - Series A - Feb 2021
View all 15 Funding Rounds on Tracxn Platform
Business Payments Solutions - Europe
05
13
Back to index
Payments (Swile)
(# Cos: 3243 | $19.1B)
Business Payments (SumUp)
(# Cos: 1767 | $6.8B)
Diversified (Checkout)
(# Cos: 245 | $3.1B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$2.1B (▲241%)
15(▲87.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
30
$3.1B
65
4
245
12
Checkout
(2012, $1.8B)
Paymentsense Viva Payments
(2010, $98.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

14. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Internet First Point of Sale Financing -
Europe
06
14
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$2.1B (▲140%)
15(▲25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
10
$5.1B
25
-
51
14
Alternative Lending (Meilleurtaux)
(# Cos: 2517 | $16.8B)
Online Lenders (UnifiedPost)
(# Cos: 1763 | $15.3B)
Consumer Loans (SalaryFinance)
(# Cos: 849 | $8.7B)
Point of Sale Financing (PayU)
(# Cos: 99 | $5.4B)
Direct Lender (Klarna)
(# Cos: 51 | $5.1B)
Klarna
(2005, $3.7B)
PayU Zilch
(2018, $340M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Klarna (2005)
$1.0B - Series H - Mar 2021
Klarna (2005)
$639M - Series H - Jun 2021
Scalapay (2019)
$155M - Series A - Sep 2021
Zilch (2018)
$110M - Series B - Jul 2021
Zilch (2018)
$110M - Series C - Nov 2021
Pledg (2015)
$98.3M - Series A - Mar 2021
Zilch (2018)
$80.0M - Series B - Apr 2021
View all 15 Funding Rounds on Tracxn Platform

15. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Multi Products Marketplaces - Europe
07
15
Back to index
Horizontal E-Commerce (Hepsiburada)
(# Cos: 1304 | $4.8B)
Marketplace (Ozon)
(# Cos: 278 | $3.1B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$1.9B (▲851%)
8(▼42.9%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
23
$3.1B
102
4
278
7
Ozon
(1998, $592M)
Hepsiburada
(1998, $100M)
Trendyol
(2009, $1.5B)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Trendyol (2009)
$1.5B - Series D - Aug 2021
Ankorstore (2019)
$283M - Series C - Jan 2022
Ankorstore (2019)
$102M - Series B - May 2021
OnBuy (2006)
$48.6M - Series A - Jul 2021
Afrikrea (2013)
$6.2M - Seed - Jan 2022
SoJustShop (2014)
$345K - Seed - Jul 2021
Shopscribe (2021)
$125K - Seed - Aug 2021
View all 8 Funding Rounds on Tracxn Platform

16. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Sotio (2010)
$317M - Series D - Dec 2021
Vaccitech (2016)
$168M - Series B - Mar 2021
Artios Pharma (2015)
$153M - Series C - Jul 2021
T-Knife (2018)
$110M - Series B - Aug 2021
Bright Peak Therapeutics (2017)
$107M - Series B - Jun 2021
Emergence Therapeutics (2019)
$98.2M - Series A - Dec 2021
Mnemo Therapeutics (2018)
$90.9M - Series A - Jun 2021
View all 49 Funding Rounds on Tracxn Platform
Drugs for Multiple Cancer Types -
Europe
08
16
Back to index
Oncology (Oxford Immunotec)
(# Cos: 1109 | $15.1B)
Drugs (ADC Therapeutics)
(# Cos: 673 | $13.2B)
Diversified (BioNTech)
(# Cos: 533 | $11.1B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$1.8B (▼3.3%)
49(▼5.8%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
40
$11.1B
383
72
533
47
BioNTech
(2008, $806M)
ADC Therapeutics
(2011, $641M)
iTeos Therapeutics
(2011, $204M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

17. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Car Ride Hailing - Europe
09
17
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$1.4B (▲398%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
23
$3.1B
82
-
1019
11
Road Transport Tech (FlixBus)
(# Cos: 5725 | $9.4B)
Ride Hailing (Heetch)
(# Cos: 1729 | $3.3B)
Cars (Blacklane)
(# Cos: 1711 | $3.3B)
Taxi (Bolt)
(# Cos: 1693 | $3.2B)
Intracity (Indriver)
(# Cos: 1482 | $3.2B)
Aggregator (Cabify)
(# Cos: 1019 | $3.1B)
Cabify
(2011, $407M)
Indriver
(2012, $237M)
Bolt
(2013, $2.0B)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bolt (2013)
$714M - Series E - Aug 2021
Bolt (2013)
$711M - Series F - Jan 2022
Indriver (2012)
$150M - Series D - Feb 2021
Bolt (2013)
$24.2M - Series D - Mar 2021

18. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
OneWeb (2012)
$550M - Series F - Apr 2021
OneWeb (2012)
$500M - Series F - Jun 2021
OneWeb (2012)
$300M - Series F - Aug 2021
Satellite Communication Services -
Europe
10
18
Back to index
NewSpace (Isotropic Systems)
(# Cos: 417 | $6.9B)
Space Services (Inmarsat)
(# Cos: 119 | $6.1B)
Communication (OneWeb)
(# Cos: 36 | $5.8B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$1.4B (▲200%)
3(▼40%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$5.8B
16
3
36
1
OneWeb
(2012, $4.8B)
Inmarsat Astrocast
(2014, $13.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

19. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Process Mining - Europe
11
19
Back to index
Business Process Management Software (ABBYY)
(# Cos: 610 | $2.0B)
Process Mining (Celonis)
(# Cos: 19 | $1.4B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$1.0B ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$1.4B
8
1
19
2
Celonis
(2011, $1.4B)
Minit
(2015, $11.5M)
QPR Software
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Celonis (2011)
$1.0B - Series D - Jun 2021

20. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Pleo (2015)
$200M - Series C - Dec 2021
Soldo (2014)
$180M - Series C - Jul 2021
Pleo (2015)
$150M - Series C - Jun 2021
Spendesk (2015)
$118M - Series C - Jul 2021
Spendesk (2015)
$114M - Series C - Jan 2022
Payhawk (2018)
$112M - Series B - Nov 2021
Yokoy (2019)
$26.0M - Series A - Oct 2021
View all 15 Funding Rounds on Tracxn Platform
Corporate Travel Expense Management
- Europe
12
20
Back to index
Online Travel (FlixBus)
(# Cos: 6263 | $10.8B)
Corporate Travel (TravelPerk)
(# Cos: 224 | $1.9B)
Expense Management (Pleo)
(# Cos: 136 | $1.4B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$977M (▲3211%)
15(▲114%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
13
$1.4B
37
-
136
10
Pleo
(2015, $434M)
Spendesk
(2015, $304M)
Mooncard
(2015, $29.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Corporate Travel & Expense Cards -
Europe
13
21
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$951M (▲3450%)
12(▲140%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$1.2B
17
1
38
7
Finance & Accounting Tech (Tradeshift)
(# Cos: 3319 | $6.4B)
Accounting Solutions (FreeAgent)
(# Cos: 2293 | $4.3B)
Procure to Pay (Mooncard)
(# Cos: 339 | $1.5B)
Travel & Expense (Spendesk)
(# Cos: 153 | $1.3B)
Card Solutions (Pleo)
(# Cos: 38 | $1.2B)
Pleo
(2015, $434M)
Spendesk
(2015, $304M)
Mooncard
(2015, $29.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pleo (2015)
$200M - Series C - Dec 2021
Soldo (2014)
$180M - Series C - Jul 2021
Pleo (2015)
$150M - Series C - Jun 2021
Spendesk (2015)
$118M - Series C - Jul 2021
Spendesk (2015)
$114M - Series C - Jan 2022
Payhawk (2018)
$112M - Series B - Nov 2021
Yokoy (2019)
$26.0M - Series A - Oct 2021
View all 12 Funding Rounds on Tracxn Platform

22. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
POS Payment Terminals - Europe
14
22
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$905M ( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
19
$1.3B
51
3
191
9
Payments (Swile)
(# Cos: 3243 | $19.1B)
Business Payments (Checkout)
(# Cos: 1767 | $6.8B)
POS Payments (Ingenico)
(# Cos: 278 | $1.4B)
POS Payment Terminal (SumUp)
(# Cos: 191 | $1.3B)
SumUp
(2012, $940M)
Ingenico Zettle
(2010, $260M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
SumUp (2012)
$895M - Series D - Mar 2021
kevin (2017)
$10.0M - Seed - Oct 2021
Smile&Pay (2014)
$6.1M - Series A - Feb 2021
PayTR (2009)
Undisclosed - PE - May 2021

23. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Electric Vehicle Charging Network
Operators - Europe
15
23
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$895M (▲3883%)
12(▲140%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
11
$1.0B
53
-
209
7
Energy Storage Tech (Delphi Automotive)
(# Cos: 1538 | $11.3B)
Charging (Wallbox)
(# Cos: 814 | $1.6B)
Station Network (Hubject)
(# Cos: 365 | $1.1B)
Charging (Elmtronics)
(# Cos: 321 | $1.0B)
Operators (IONITY)
(# Cos: 216 | $1.0B)
Electric Vehicle (InstaVolt)
(# Cos: 209 | $1.0B)
InstaVolt
(2016, $62.6M)
IONITY
(2017, $791M)
Elmtronics
(2013, $2.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
IONITY (2017)
$791M - Series B - Oct 2021
Zest (2021)
$40.8M - Series C - Oct 2021
Wirelane (2017)
$21.2M - Series B - Aug 2021
Electra (2021)
$17.9M - Seed - Jun 2021
EasyGo.ie (2018)
$17.4M - Series B - Oct 2021
char.gy (2015)
$8.9M - Series A - Jun 2021
Trojan Energy (2017)
$3.0M - Seed - Aug 2021
View all 12 Funding Rounds on Tracxn Platform

24. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Mollie (2004)
$800M - Series C - Jun 2021
Volt (2019)
$23.5M - Series A - Jun 2021
Silverflow (2019)
$17.0M - Series A - Dec 2021
Vyne (2018)
$15.5M - Seed - Sep 2021
Pawapay (2020)
$9.0M - Seed - Aug 2021
SendOwl (2010)
$4.5M - Seed - Dec 2021
INAI (2020)
$4.0M - Seed - Sep 2021
View all 15 Funding Rounds on Tracxn Platform
Online Business Payments - Europe
16
24
Back to index
Payments (Swile)
(# Cos: 3243 | $19.1B)
Business Payments (Checkout)
(# Cos: 1767 | $6.8B)
Online Payments (Mollie)
(# Cos: 739 | $1.6B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$872M (▲639%)
15(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
64
$1.6B
128
2
739
18
Mollie
(2004, $940M)
PayU Ebury
(2009, $119M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

25. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Celsius Network (2017)
$750M - Series B - Oct 2021
Oxygen (2001)
$40.0M - Series C - Feb 2021
Invstr (2013)
$20.0M - Series A - Mar 2021
Reef (2020)
$20.0M - Series A - Mar 2021
Qredo (2012)
$11.0M - Seed - May 2021
Sovryn (2020)
$9.0M - Series A - Apr 2021
Krystal (2021)
$6.6M - Seed - Aug 2021
View all 17 Funding Rounds on Tracxn Platform
Crypto Financial Services - Europe
17
25
Back to index
Cryptocurrencies (Luno)
(# Cos: 5292 | $6.0B)
Financial Services (eToro)
(# Cos: 3649 | $4.9B)
Diversified (Uphold)
(# Cos: 279 | $1.1B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$866M (▲672%)
17(▲30.8%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$1.1B
62
1
279
15
Uphold
(2015, $73.4M)
Celsius Network
(2017, $780M)
Nexo
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

26. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Internet-First Property and Casualty
Insurers - Europe
18
26
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$772M (▲230%)
7(▼36.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$2.1B
27
1
48
14
Internet First Insurance Platforms (Meilleurtaux)
(# Cos: 997 | $6.0B)
Internet First Insurers (Zego)
(# Cos: 367 | $4.3B)
P&C (Bought By Many)
(# Cos: 265 | $3.3B)
Diversified (Hellas Direct)
(# Cos: 48 | $2.1B)
Hellas Direct
(2011, $66.9M)
Wefox
(2015, $1.0B)
Luko
(2016, $84.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Wefox (2015)
$650M - Series C - Jun 2021
Leocare (2017)
$116M - Series B - Nov 2021
Hellas Direct (2011)
$38.2M - Series C - Jun 2021
InsureQ (2020)
$6.0M - Seed - Apr 2021
Inzmo (2015)
$3.8M - Seed - Jan 2021
CFC (1999)
Undisclosed - PE - Oct 2021
Lovys (2015)
Undisclosed - Series A - Jul 2021

27. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Customer Journey Analytics - Europe
19
27
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$756M (▲182%)
6( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$1.4B
18
1
52
6
MarketingTech (IMImobile)
(# Cos: 7752 | $7.6B)
Marketing Data Platforms (Zeotap)
(# Cos: 208 | $2.1B)
Customer Data Platforms (Amplitude)
(# Cos: 157 | $1.7B)
Customer Journey Analytics
(ContentSquare)
(# Cos: 52 | $1.4B)
ContentSquare
(2012, $812M)
Amplitude
(2012, $336M)
Snowplow
(2012, $15.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
ContentSquare (2012)
$500M - Series E - May 2021
Amplitude (2012)
$150M - Series F - Jun 2021
InfoSum (2015)
$65.0M - Series B - Aug 2021
Glassbox (2010)
$40.0M - Series C - Dec 2021
Product Lead (2016)
$726K - Seed - Apr 2021
Placeme (2017)
Undisclosed - Seed - May 2021

28. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Cognitive Robotic Process Automation -
Europe
20
28
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$750M (▲228%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$2.1B
15
2
30
2
Robotic Process Automation (UnifiedPost)
(# Cos: 217 | $2.9B)
Cognitive Automation (Rossum)
(# Cos: 59 | $2.2B)
Multi-Industry (Blue Prism)
(# Cos: 55 | $2.2B)
Multi-Function (UiPath)
(# Cos: 30 | $2.1B)
UiPath
(2005, $2.0B)
Blue Prism
(2001, $30.5M)
Automation Hero
(2017, $19.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
UiPath (2005)
$750M - Series F - Feb 2021
Robotiq.ai (2018)
Undisclosed - Seed - May 2021

29. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Internet First Banks for Businesses with Partner
Bank's License - Europe
21
29
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$737M (▲419%)
12(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$1.2B
21
-
59
7
Banking Tech (Monzo)
(# Cos: 1940 | $18.9B)
Internet First Banks (Revolut)
(# Cos: 432 | $10.6B)
Through Bank Partnerships (Lunar)
(# Cos: 288 | $2.3B)
Business Banking (Tide)
(# Cos: 59 | $1.2B)
Tide
(2015, $200M)
Qonto
(2017, $704M)
Kontist
(2016, $46.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Qonto (2017)
$552M - Series D - Jan 2022
Tide (2015)
$100M - Series C - Jul 2021
Juni (2020)
$52.0M - Series A - Oct 2021
Kontist (2016)
$29.8M - Series B - Mar 2021
kompasbank (2018)
$22.5M - Series A - Mar 2021
Juni (2020)
$21.5M - Series A - Jul 2021
Penta Bank (2016)
$17.7M - Series B - Aug 2021
View all 12 Funding Rounds on Tracxn Platform

30. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
NFT Based Fantasy Soccer Platforms -
Europe
22
30
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$730M (▲8713%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$739M
1
-
2
1
Sports Tech (One Football)
(# Cos: 4068 | $2.4B)
Fantasy Sports (La Liga Fantasy Marca)
(# Cos: 161 | $759M)
Online Platforms (Mister Fantasy)
(# Cos: 117 | $758M)
Soccer (Ultimate Fan Live)
(# Cos: 70 | $754M)
NFTs (Sorare)
(# Cos: 2 | $739M)
Sorare
(2018, $739M)
The Football Club
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Sorare (2018)
$680M - Series B - Sep 2021
Sorare (2018)
$50.0M - Series A - Feb 2021

31. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Polestar (1996)
$550M - Unattributed - Apr 2021
Lightyear (2016)
$110M - Series B - Mar 2021
Rimac Automobili (2009)
$83.4M - Series C - Mar 2021
e.GO Mobile (2015)
$57.0M - Series C - Aug 2021
e.GO Mobile (2015)
$36.5M - Series B - Feb 2021
Riversimple (2013)
$2.1M - Series A - Jul 2021
Electric Car Manufacturers - Europe
23
31
Back to index
Electric Vehicles (TIER)
(# Cos: 3299 | $8.3B)
Automaker (Volocopter)
(# Cos: 1281 | $4.0B)
Cars (Rimac Automobili)
(# Cos: 110 | $1.8B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$727M (▲ >10K%)
6(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$1.8B
24
2
110
6
Rimac Automobili
(2009, $219M)
Riversimple
(2013, $4.4M)
Sono Motors
(2013, $120M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

32. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Communication Platform as a Service -
Europe
24
32
Back to index
Customer Success Management (Nuance)
(# Cos: 710 | $2.5B)
CPaaS (Sinch)
(# Cos: 19 | $1.4B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$700M (▲16.1%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$1.4B
6
1
19
2
Sinch
(2013, $12.0M)
Infobip
(2006, $408M)
MessageBird
(2011, $1.0B)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MessageBird (2011)
$700M - Series C - Apr 2021

33. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Cheminformatics Software - Europe
25
33
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$693M (▲162%)
7(▼30%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$1.3B
52
5
111
3
Life Sciences Tech (Siemens Healthineers)
(# Cos: 1516 | $3.9B)
Research & Development (ATAI)
(# Cos: 1242 | $3.6B)
Drug Discovery (Qiagen)
(# Cos: 377 | $1.9B)
Cheminformatics (Exscientia)
(# Cos: 111 | $1.3B)
Exscientia
(2012, $429M)
ATAI
(2018, $387M)
Oxford Drug Design
(2001, $7.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Exscientia (2012)
$225M - Series D - Apr 2021
Owkin (2016)
$180M - Series B - Nov 2021
ATAI (2018)
$157M - Series D - Mar 2021
Exscientia (2012)
$100M - Series C - Mar 2021
PostEra (2019)
$26.1M - Series A - Jan 2022
Molecule.one (2016)
$4.6M - Series A - May 2021
Optibrium (2009)
Undisclosed - Seed - Feb 2021

34. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Online Subscription Based K-12
Academic Tutoring - Europe
26
34
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$666M (▲4268%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$684M
4
-
12
1
K-12 EdTech (Kahoot)
(# Cos: 3211 | $2.1B)
B2C Learning Solutions (Busuu)
(# Cos: 1224 | $1.0B)
School Curriculum (Kartable)
(# Cos: 744 | $890M)
Multi Subject (Sumdog)
(# Cos: 572 | $886M)
Online Tutoring (MyTutor)
(# Cos: 112 | $722M)
Subscription (GoStudent)
(# Cos: 12 | $684M)
GoStudent
(2016, $684M)
Learnlink TEACHY
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
GoStudent (2016)
$340M - Series D - Jan 2022
GoStudent (2016)
$244M - Series C - Jun 2021
GoStudent (2016)
$82.4M - Series B - Mar 2021

35. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Social Trading Platforms for Stocks -
Europe
27
35
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$660M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$891M
13
1
58
3
Investment Tech (IHS Markit)
(# Cos: 6018 | $12.5B)
Online Trading Platforms (Saxo Bank)
(# Cos: 2636 | $3.8B)
Stocks (Ayondo)
(# Cos: 641 | $2.5B)
Social Trading (eToro)
(# Cos: 58 | $891M)
eToro
(2007, $823M)
Ayondo
(2008, $19.8M)
wikifolio
(2012, $8.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
eToro (2007)
$650M - Series F - Mar 2021
Shares (2021)
$10.0M - Seed - Aug 2021

36. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Insurance Agency Management - Europe
28
36
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$650M (▲628%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$1.0B
12
-
47
2
Insurance IT (Shift Technology)
(# Cos: 682 | $3.1B)
Insurance Policy Solutions (Tractable)
(# Cos: 436 | $2.2B)
Software for Insurance Intermediaries
(WeGroup)
(# Cos: 75 | $1.0B)
Insurance Agency Management
(Wefox)
(# Cos: 47 | $1.0B)
Wefox
(2015, $1.0B)
Iprism
(2006, $11.9M)
CETA
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Wefox (2015)
$650M - Series C - Jun 2021
brokerbusiness.ch (2019)
Undisclosed - Seed - Jun 2021

37. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Bus Aggregators - Europe
29
37
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$650M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.2B
3
-
9
1
Online Travel (GetYourGuide)
(# Cos: 6264 | $10.8B)
Transportation (BlaBlaCar)
(# Cos: 1219 | $3.4B)
Bus (Zeelo)
(# Cos: 70 | $1.3B)
Aggregator (FlixBus)
(# Cos: 9 | $1.2B)
FlixBus
(2013, $1.2B)
Tunnll GoGoBus
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
FlixBus (2013)
$650M - Series G - Jun 2021

38. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Internet First Business Loans
Marketplace - Europe
30
38
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$646M (▲1086%)
7(▼12.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$867M
40
-
106
13
Alternative Lending (Meilleurtaux)
(# Cos: 2517 | $16.8B)
Online Lenders (Klarna)
(# Cos: 1763 | $15.3B)
Business Loans (UnifiedPost)
(# Cos: 595 | $5.3B)
Diversified (ThinCats)
(# Cos: 140 | $952M)
Marketplace (Credimi)
(# Cos: 106 | $867M)
Credimi
(2015, $20.8M)
ThinCats
(2010, $226M)
FUNDING XCHANGE
(2014, $12.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MarketFinance (2011)
$383M - Series C - Sep 2021
ThinCats (2010)
$226M - Series D - Jun 2021
Northmill (2006)
$30.0M - Series B - Feb 2021
neocredit.ch (2018)
$11.2M - Series B - Jun 2021
Mansa (2019)
$7.2M - Series A - Mar 2021
Lendino (2014)
$590K - Seed - Jul 2021
Swisspeers (2015)
Undisclosed - Seed - Dec 2021

39. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Snyk (2015)
$300M - Series E - Mar 2021
Snyk (2015)
$300M - Series F - Sep 2021
Yes We Hack (2013)
$18.8M - Series B - Jul 2021
Debricked (2018)
$2.5M - Seed - Oct 2021
Security Testing - Europe
31
39
Back to index
Software Testing Tools (Tricentis)
(# Cos: 628 | $1.7B)
Testing Types (Veracode)
(# Cos: 235 | $1.3B)
Security Testing (Snyk)
(# Cos: 59 | $1.2B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$621M (▲201%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$1.2B
21
1
59
5
Snyk
(2015, $1.1B)
Veracode
(2006, $107M)
Yes We Hack
(2013, $23.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

40. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
On Demand Staffing Platform - Europe
32
40
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$619M (▲347%)
2(▼66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.0B
9
-
27
5
HRTech (Kahoot)
(# Cos: 9036 | $10.2B)
Contract Workforce Recruitment (MEDWING)
(# Cos: 115 | $1.2B)
On Demand Staffing Platform (Zenjob)
(# Cos: 53 | $1.1B)
Industry Specific (Brigad)
(# Cos: 47 | $1.1B)
Multi Industry (Jobandtalent)
(# Cos: 27 | $1.0B)
Jobandtalent
(2009, $900M)
Coople
(2009, $75.0M)
Roamler
(2011, $28.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Jobandtalent (2009)
$500M - Series E - Dec 2021
Jobandtalent (2009)
$119M - Series D - Mar 2021

41. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
CMR Surgical (2014)
$600M - Series D - Jun 2021
AcuSurgical (2017)
$6.9M - Series A - Feb 2021
MicroSure (2014)
$3.3M - Series B - Apr 2021
Surgical Robots - Europe
33
41
Back to index
Professional Service Robots (Rovco)
(# Cos: 790 | $2.5B)
Healthcare (Medical Microinstruments)
(# Cos: 113 | $1.3B)
Surgery (CMR Surgical)
(# Cos: 48 | $1.3B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$610M (▲273%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$1.3B
26
1
48
6
CMR Surgical
(2014, $1.0B)
Medical Microinstruments
(2015, $24.5M)
Robocath
(2009, $57.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

42. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Mobile Casual Game Developers -
Europe
34
42
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$599M (▲1036%)
21(▲31.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
75
$1.4B
262
8
2600
19
Mobile Gaming (Codemasters)
(# Cos: 3982 | $2.6B)
Game Developers (Supercell)
(# Cos: 3702 | $2.5B)
Casual (Voodoo)
(# Cos: 3056 | $1.8B)
Multi Genre (Rovio)
(# Cos: 2600 | $1.4B)
Rovio
(2003, $42.0M)
Voodoo
(2013, $200M)
Outplay Entertainment
(2010, $9.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Dream Games (2000)
$225M - Series C - Jan 2022
Dream Games (2000)
$155M - Series B - Jun 2021
Tripledot (2017)
$78.0M - Series A - Apr 2021
Spyke Games (2020)
$55.0M - Seed - Jan 2022
Dream Games (2000)
$50.0M - Series A - Feb 2021
Ace Games (2020)
$7.0M - Seed - Apr 2021
Lightheart (2019)
$6.8M - Series A - Apr 2021
View all 21 Funding Rounds on Tracxn Platform

43. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Exchanges - Europe
35
43
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$583M (▲2213%)
17(▲113%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
16
$770M
80
-
1266
9
Cryptocurrencies (Luno)
(# Cos: 5292 | $6.0B)
Financial Services (Uphold)
(# Cos: 3649 | $4.9B)
Investment Industry (eToro)
(# Cos: 2663 | $2.9B)
Crypto Exchanges (Blockchain)
(# Cos: 1266 | $770M)
Blockchain
(2011, $590M)
Safello
(2013, $1.4M)
Binance
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Blockchain (2011)
$300M - Series C - Mar 2021
Blockchain (2011)
$120M - Series C - Feb 2021
Blockchain (2011)
$100M - Series C - Apr 2021
Element Finance (2019)
$32.0M - Series A - Nov 2021
Coinhouse (2014)
$17.0M - Series B - Jan 2022
Voltz Labs (2021)
$6.0M - Seed - Dec 2021
DeversiFi (2019)
$5.0M - Series A - May 2021
View all 17 Funding Rounds on Tracxn Platform

44. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Qonto (2017)
$552M - Series D - Jan 2022
Kontist (2016)
$29.8M - Series B - Mar 2021
Business Bank Accounts - Europe
36
44
Back to index
Freelancer IT (Finiata)
(# Cos: 199 | $903M)
Financial Solutions (Kontist)
(# Cos: 80 | $862M)
Business Bank Accounts (Qonto)
(# Cos: 2 | $750M)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$582M (▲404%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$750M
2
-
2
2
Qonto
(2017, $704M)
Kontist
(2016, $46.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

45. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Internet First Corporate Credit Card
Issuers - Europe
37
45
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$571M (▲625%)
7(▲250%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$931M
5
-
11
5
Payments (Checkout)
(# Cos: 3243 | $19.1B)
Consumer Payments (Verse)
(# Cos: 934 | $3.3B)
Payment Cards (Edenred)
(# Cos: 356 | $2.5B)
Credit Cards (Pleo)
(# Cos: 43 | $1.4B)
Corporate Cards (Swile)
(# Cos: 11 | $931M)
Swile
(2018, $328M)
Pleo
(2015, $434M)
Capital On Tap
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Swile (2018)
$200M - Series D - Oct 2021
Pleo (2015)
$200M - Series C - Dec 2021
Pleo (2015)
$150M - Series C - Jun 2021
Moss (2019)
$85.3M - Series B - Jan 2022
Moss (2019)
$29.3M - Series A - Aug 2021
pliant (2020)
$14.0M - Seed - Dec 2021
pliant (2020)
$6.5M - Seed - Aug 2021

46. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Mirakl (2012)
$555M - Series E - Sep 2021
Marketplaces Software Suite - Europe
38
46
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E-Commerce Enablers (The Hut Group)
(# Cos: 2567 | $8.6B)
Ecommerce Software Suite (Commercetools)
(# Cos: 443 | $1.8B)
Marketplaces (Mirakl)
(# Cos: 56 | $1.0B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$555M (▲85%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$1.0B
13
1
56
2
Mirakl
(2012, $948M)
Wizaplace
(2012, $17.6M)
Sharetribe
(2010, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

47. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
B2B Marketplaces Software Suite -
Europe
39
47
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$555M (▲85%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$948M
1
-
4
1
B2B E-Commerce (AUTO1.com)
(# Cos: 1554 | $4.3B)
Technology Enablers (inRiver)
(# Cos: 237 | $2.4B)
E Commerce Software Suite (Tradeshift)
(# Cos: 101 | $2.2B)
Marketplace (Mirakl)
(# Cos: 4 | $948M)
Mirakl
(2012, $948M)
Sourcebook b2b
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Mirakl (2012)
$555M - Series E - Sep 2021

48. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Payroll Management - Europe
40
48
Back to index
HRTech (Kahoot)
(# Cos: 9036 | $10.2B)
Payroll Management (PayFit)
(# Cos: 172 | $952M)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$551M (▲1275%)
12(▲71.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
14
$952M
31
-
172
12
PayFit
(2016, $496M)
CloudPay
(1996, $106M)
Payslip
(2016, $14.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PayFit (2016)
$289M - Series E - Jan 2022
PayFit (2016)
$107M - Series D - Mar 2021
CloudPay (1996)
$58.0M - Series D - Aug 2021
Pento (2016)
$35.0M - Series B - Dec 2021
Dopay (2013)
$18.0M - Series A - Sep 2021
Omnipresent (2019)
$15.8M - Series A - Jan 2021
Pento (2016)
$15.6M - Series A - May 2021
View all 12 Funding Rounds on Tracxn Platform

49. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
P2P Wallet Remittance - Europe
41
49
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Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$528M (▲3853%)
9(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$736M
23
-
100
9
Remittance (WorldRemit)
(# Cos: 753 | $2.8B)
Internet First Platforms (Wise)
(# Cos: 601 | $2.6B)
P2P Remittance (Azimo)
(# Cos: 382 | $1.4B)
Wallet Transfer (Uphold)
(# Cos: 100 | $736M)
Uphold
(2015, $73.4M)
PaySend
(2015, $162M)
Skrill
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Zepz (2010)
$292M - Series E - Aug 2021
PaySend (2015)
$125M - Series B - May 2021
Taptap Send (2017)
$65.0M - Series B - Dec 2021
MAJORITY (2019)
$27.0M - Series A - Dec 2021
MAJORITY (2019)
$19.0M - Seed - Jun 2021
OneFor (2020)
$11.8M - Series B - Jul 2021
Spoko (2017)
$5.9M - Series A - Apr 2021
View all 9 Funding Rounds on Tracxn Platform

50. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Payroll Management Solutions - Europe
42
50
Back to index
Finance & Accounting Tech (Pleo)
(# Cos: 3319 | $6.4B)
Payroll Management (Edenred)
(# Cos: 124 | $918M)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$518M (▲1260%)
10(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
12
$918M
31
2
124
10
Edenred PayFit
(2016, $496M)
Sodexo
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PayFit (2016)
$289M - Series E - Jan 2022
PayFit (2016)
$107M - Series D - Mar 2021
CloudPay (1996)
$58.0M - Series D - Aug 2021
Pento (2016)
$35.0M - Series B - Dec 2021
Dopay (2013)
$18.0M - Series A - Sep 2021
Cobee (2018)
$16.5M - Series A - Jul 2021
Pento (2016)
$15.6M - Series A - May 2021
View all 10 Funding Rounds on Tracxn Platform

51. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Trading Platforms -
Europe
43
51
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$512M (▲567%)
17(▲70%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$907M
46
-
605
10
Cryptocurrencies (Luno)
(# Cos: 5292 | $6.0B)
Financial Services (Uphold)
(# Cos: 3649 | $4.9B)
Investment Industry (Blockchain)
(# Cos: 2663 | $2.9B)
Online Trading Platforms (eToro)
(# Cos: 941 | $1.8B)
Regular Trading (FalconX)
(# Cos: 605 | $907M)
FalconX
(2018, $277M)
Bitpanda
(2014, $497M)
Archax
(2018, $9.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bitpanda (2014)
$263M - Series C - Aug 2021
FalconX (2018)
$210M - Series C - Aug 2021
Bitpanda (2014)
$170M - Series B - Mar 2021
FalconX (2018)
$50.0M - Series B - Mar 2021
Blocktrade (2001)
$25.9M - Series A - Aug 2021
Bitpanda (2014)
$12.0M - Series B - May 2021
Skilling (1996)
$11.4M - Seed - Jan 2022
View all 17 Funding Rounds on Tracxn Platform

52. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
B2C Used Cars Marketplaces - Europe
44
52
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$504M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$2.0B
8
-
30
3
Auto E-Commerce & Content (Zego)
(# Cos: 2074 | $5.9B)
Second Hand Vehicles (AUTO1.com)
(# Cos: 583 | $4.4B)
Cars (Cazoo)
(# Cos: 448 | $4.4B)
B2C Marketplace (Carwow)
(# Cos: 30 | $2.0B)
Carwow
(2010, $150M)
CarNext
(2017, $475M)
InstaMotion
(2015, $36.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
CarNext (2017)
$475M - Series D - Jul 2021
InstaMotion (2015)
$28.9M - Series B - Mar 2021

53. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Music Licensing Marketplace - Europe
45
53
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$474M (▲ >10K%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$508M
5
1
7
3
Music Tech (Deezer)
(# Cos: 1674 | $5.0B)
Music Artist IT (Believe Distribution Services)
(# Cos: 564 | $910M)
Copyrights Management (7digital)
(# Cos: 23 | $521M)
Licensing Marketplace (Epidemic
Sound)
(# Cos: 7 | $508M)
Epidemic Sound
(2009, $476M)
7digital Tracklib
(2014, $23.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Epidemic Sound (2009)
$450M - Series D - Mar 2021
Tracklib (2014)
$16.8M - Series B - Sep 2021
Lickd (2016)
$7.0M - Series B - Sep 2021

54. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Core Banking Platforms - Europe
46
54
Back to index
Banking Tech (Revolut)
(# Cos: 1940 | $18.9B)
Core Banking Platforms (Mambu)
(# Cos: 64 | $945M)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$466M (▲46.1%)
2(▼66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$945M
20
-
64
5
Mambu
(2011, $446M)
Thought Machine
(2014, $349M)
Ohpen
(2009, $48.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Mambu (2011)
$266M - Series E - Dec 2021
Thought Machine (2014)
$200M - Series C - Sep 2021

55. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Free Float Electric Kick Scooter Rentals -
Europe
47
55
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$457M (▲1%)
9(▲28.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$1.4B
13
-
87
5
Electric Vehicles (Rimac Automobili)
(# Cos: 3299 | $8.3B)
Vehicle as a Service (Dott)
(# Cos: 509 | $1.9B)
Kick Scooters (Voi)
(# Cos: 158 | $1.4B)
Free Float (TIER)
(# Cos: 87 | $1.4B)
TIER
(2018, $660M)
Voi
(2018, $500M)
Dott
(2018, $142M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TIER (2018)
$200M - Series D - Oct 2021
Voi (2018)
$115M - Series D - Dec 2021
Dott (2018)
$85.0M - Series B - Apr 2021
Voi (2018)
$45.0M - Series C - Aug 2021
Reby (2018)
$5.0M - Series A - Nov 2021
Hopp (2019)
$2.8M - Seed - Nov 2021
ZEUS (2019)
$2.4M - Angel - Jan 2021
View all 9 Funding Rounds on Tracxn Platform

56. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Web Based Platform for Doctor
Consultation - Europe
48
56
Back to index
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$456M (▲78%)
16(▼11.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$1.9B
105
4
554
8
Healthcare Booking Platforms (Roche)
(# Cos: 3269 | $4.1B)
Doctors (Doctolib)
(# Cos: 1508 | $2.8B)
Telemedicine (Kaia Health)
(# Cos: 962 | $2.2B)
Teleconsultation (KRY)
(# Cos: 934 | $2.2B)
Diversified (Babylon)
(# Cos: 554 | $1.9B)
Babylon
(2013, $735M)
KRY
(2014, $571M)
Push Doctor
(2013, $77.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
KRY (2014)
$317M - Series D - Apr 2021
Doktor.se (2016)
$61.0M - Series D - May 2021
Doktor.se (2016)
$34.8M - Series D - Jul 2021
eConsult (2011)
$9.6M - Series A - Feb 2021
Jutro (2019)
$7.1M - Seed - Jul 2021
Telimedi.co (2014)
$6.6M - Series A - Feb 2021
Liva Healthcare (2015)
$6.2M - Series B - Dec 2021
View all 16 Funding Rounds on Tracxn Platform

57. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Virtual Events - Europe
49
57
Back to index
Events Tech (Slido)
(# Cos: 1735 | $1.5B)
Online Events (Hopin)
(# Cos: 140 | $1.2B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$456M (▼33.9%)
4(▼63.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$1.2B
26
-
140
5
Hopin
(2019, $1.1B)
Tame
(2016, $7.6M)
CogX
(2015, $1.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Hopin (2019)
$450M - Series D - Aug 2021
Tame (2016)
$5.5M - Seed - May 2021
Veertly (2020)
$2.2M - Seed - Oct 2021
Hopin (2019)
Undisclosed - Series C - Jun 2021

58. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Europe Tech - Top Business Models Report
Recent Funding Rounds
Evox Therapeutics (2016)
$96.0M - Series C - Feb 2021
HiFiBiO (2013)
$75.0M - Series D - Jun 2021
Owlstone Medical (2004)
$59.0M - Series D - Sep 2021
Engitix (2016)
$54.0M - Series A - Jan 2022
AMSilk (2006)
$35.2M - Series C - May 2021
Promethera (2009)
$23.8M - Series E - Jul 2021
Novadip (2013)
$22.0M - Series B - Oct 2021
View all 24 Funding Rounds on Tracxn Platform
Life Sciences Research Services - Europe
50
58
Back to index
Life Sciences Platforms and Tools (Nanopore)
(# Cos: 2972 | $8.5B)
Research Services (Horizon Discovery)
(# Cos: 1492 | $4.4B)
Diversified (OXGENE)
(# Cos: 1000 | $3.3B)
Taxonomy
$ Invested in last 1 year in Europe Tech
Key Stats
# Funding Rounds in last 1 year in
Europe Tech
$452M (▲64.9%)
24(▼25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
96
$3.3B
553
37
1000
40
OXGENE
(2011, $26.3M)
ERYtech Pharma
(2004, $15.8M)
Mologic
(2003, $10.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

59. Europe Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
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