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Welcome to another edition of 🔍 Startup Researcher - Europe, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍

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📰 Important News

• The Dutch government introduced tax relief and cut the stock option tax rate to 32.17% to attract and retain startup talent.

• OpenAI and SoftBank are considering investing in the UK for their $500 billion Stargate AI project amid the UK’s push for AI infrastructure.

• Revolut developed a points-based rewards credit card to rival Amex in the UK, using its proprietary RevPoints system.

• Figma sent a cease-and-desist to Swedish AI startup Lovable over its use of “Dev Mode,” citing trademark infringement.

• Dutch neobank Bunq posted $97.01 million in profits for 2024, marking its second consecutive year of profitability.

💸 Top Funding Rounds

• Marshmallow raised $90 million at a $2 billion valuation to expand internationally and develop new financial products for migrants.

• Fleming secured $45.5 million in credit from VVRB to expand its fast digital financing platform for doctors and dentists.

• Poolhouse obtained $34 million to expand its pool entertainment venues across London, the Middle East, North America, Southeast Asia, and Europe.

• Nyobolt raised $30 million to advance fast-charging tech for robotics, moving ahead with expansion despite cash concerns and market uncertainty.

• AMT Medical closed a $25 million Series B to advance its minimally invasive heart bypass system and clinical trials.

💰️ Notable Exits

• Strava acquired UK’s Runna to enhance in-app training plans, investing in growth while maintaining Runna’s independence.

• Lyft acquired Hamburg-based FreeNow for $199 million to expand into Europe and compete with Uber and Bolt across 11 countries.

• Hugging Face acquired Pollen Robotics, marking its hardware entry with the open-source humanoid robot Reachy 2.

• UK unicorn Lighthouse acquired Barcelona’s The Hotels Network to integrate AI marketing and boost hotel revenue and guest experiences.

• Berlin fintech Pliant acquired Austrian insurtech startup hi.health to expand into digital insurance payments.

🏦 About Investors

• Paris-based AVP launched a $1.7 billion growth fund backed by AXA and the EIF to support late-stage European tech companies.

• Atomico sold part of its fund of funds portfolio to Kline Hill Partners, including stakes in Seedcamp, Visionaries Club, and Puzzle Ventures.

• Aviva Investors committed $12.9 million to Lakestar’s Growth Fund II to support high-growth European tech scaleups.

• Sistafund paused investments after managing partner Isabelle Gallo left amid tensions with founder Tatiana Jama.

• Endeit Capital named Jonne de Leeuw as partner to lead its Fintech team and expand European growth-stage investments.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Marshmallow

UK-based insurtech Marshmallow, founded in 2016 by twin brothers Oliver and Alexander Kent-Braham, has raised $90 million in a mix of debt and equity, nearly doubling its valuation to $2 billion. Known for offering fair car insurance to UK migrants using proprietary algorithms, Marshmallow now plans to expand internationally and launch new financial products, including a lending solution tailored to immigrants. With over 500,000 policies sold and a strong 2023 performance, the company is positioning itself as a one-stop financial platform for underserved migrant communities in markets like Germany, Canada, and the US.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

AVP

Paris-based AVP (Atlantic Vantage Point), formerly AXA Venture Partners, is now an independent private investment firm with over $2.8 billion under management and offices in Paris, New York, and London. Focused on high-growth tech companies across Europe and North America, AVP runs four strategies: venture, early growth, growth, and fund of funds. It recently launched a $1.7 billion growth fund, AVP Growth I, backed by anchor investors AXA and the European Investment Fund (EIF) as part of the European Tech Champions Initiative (ETCI), aiming to close the late-stage funding gap in Europe and support tech scale-ups like Agicap and Odoo, while providing entrepreneurs an alternative to top-tier US funds.

 🤑 Opportunity Radar

Call for Applications: The UNICEF Venture Fund

Apply to the UNICEF Venture Fund by May 8th, 2025, for a chance to receive up to $100K in equity-free funding. This opportunity is open to early-stage, for-profit startups developing Open Source frontier tech solutions—like AI, data science, or blockchain—that improve the lives of children. Companies must be registered in a UNICEF programme country and have a working prototype. Women-led, women-founded, and youth-led startups are especially encouraged to apply. Submit your application in English and help drive innovation for the health and well-being of girls and women worldwide.