SeqOne, a pioneer in AI-driven genomic analysis, has entered into a definitive agreement to acquire Congenica, the UK company spun out of the Wellcome Sanger Institute. The acquisition creates the largest global ‘software pure player’ in the genomics space, serving over 160 labs in more than 30 countries. Since its founding in 2012, Congenica has drawn on deep clinical expertise to support more than 25 private and public laboratories worldwide, contributing to flagship initiatives such as the NHS Genomics Laboratory Hubs, Genomics England, and the Hong Kong Genome Program. SeqOne complements this legacy with its AI-powered genomic analysis platform, delivering advanced decision-support tools that enable molecular laboratories to generate faster, more accurate, and scalable insights across oncology, rare and inherited diseases, and infectious diseases. The acquisition brings together SeqOne’s cutting-edge NGS (Next-Generation Sequencing) analysis capabilities with Congenica’s trusted clinical decision support and interpretation services, creating an integrated offering that transforms complex genomic data into actionable insights, accelerating rare disease diagnoses and advancing personalised cancer therapies. Martin Dubuc, CEO of SeqOne, commented: The rapid pace of personalised medicine demands continuous investment in software innovation and deep specialization. By integrating Congenica’s world-class team, we are further enhancing our strong growth trajectory and ability to provide market-leading software to customers, expert interpretation services, and deepening our presence in the UK market - a global leader in clinical genomics since the landmark 100,000 Genomes Project. This development arrives at a pivotal moment in medicine. With the cost of sequencing a human genome having dropped dramatically, the challenge facing hospitals and laboratories worldwide is not data generation but data interpretation. This “interpretation bottleneck” remains the greatest obstacle to advancing personalised medicine, one that requires sophisticated software to overcome. Dr. Richard Scott, CEO at Genomics England, said:   Congenica has been an instrumental partner to Genomics England, particularly in advancing rare disease diagnosis through their robust platform for clinical whole genome analysis. We look forward to continuing this important work with the combined expertise of the SeqOne team to deliver benefits for patients. The acquisition builds on a period of strong momentum for SeqOne, which has doubled its revenue and expanded its international footprint from three to more than 30 countries in just the past year. It follows the successful acquisition of Life & Soft in April, extending the company’s expertise into multi-omics and virology, and is further reinforced by a €20 million funding round from leading venture capital firms. Together, these milestones have accelerated SeqOne’s strategy to consolidate a fragmented market and establish the definitive software operating system for the clinical genomics revolution. As the integration moves forward, SeqOne remains committed to ensuring continuity of service and support for Congenica customers, who will now benefit from a broader, unified product portfolio. The company will also maintain a strong UK presence at the Wellcome Sanger Institute. Dr Andy Richards CBE, Chairman of Congenica, shared: The Board of Congenica is proud of the immense impact our technology has had on healthcare since our inception. We support this combination with SeqOne, believing their vision and resources are best positioned to carry that legacy forward and ensure our innovative platform continues to thrive and serve patients globally. The deal terms will remain undisclosed.

OYAK ANKER Bank GmbH has taken a historic step in its digitalization journey — one of Germany’s most comprehensive banking transformation projects has been successfully completed under the leadership of Innovance. Through this major transformation, OYAK ANKER Bank GmbH has not only redefined its technical infrastructure but also its business processes, achieving a more flexible, scalable structure that prioritizes customer experience. Innovance provided strategic technology consultancy at every stage of the project — from analysis and architectural design to development, testing, and go-live processes. By integrating with Mambu’s modern infrastructure, the bank has gained the ability to launch new products to market faster, respond to regulatory requirements more agilely, and enhance its competitive advantage in digital banking. A Strategic Step Toward the Future As the technology solution partner, Innovance played an active role in every phase of the transformation, migrating OYAK ANKER Bank GmbH’s legacy systems to a modern architecture centered around Mambu’s SaaS core banking platform. Supported by custom applications developed on Microsoft Azure infrastructure, this new digital ecosystem is powered by an API-first approach, microservices-based architecture, and real-time workflows. As a result, the bank now has an agile and scalable structure that meets not only today’s needs but also those of the future. Key innovations implemented during the transformation include: Full decommissioning of legacy systems and transition to cloud-based infrastructure Faster product development and market launch enabled by a modular, component-based structure Enhanced operational efficiency through real-time data processing capabilities Deployment of modern user interfaces that improve customer experience More agile and flexible compliance with regulations Implementation of a scalable API framework that enables new services and seamless integrations This multi-layered transformation has opened the door to a new era not only technologically but also in terms of business operations. Innovance’s engineering strength, industry expertise, and solution-oriented approach were the key drivers behind the timely and successful completion of the project. Tangible Results, Successful Execution Innovance assumed full responsibility for the end-to-end management of this comprehensive transformation project — from planning and architectural design to implementation and go-live. Thanks to its deep domain expertise in the financial sector and agile project delivery model, the transition was completed seamlessly and without disruption. Innovance’s structured, results-driven, and execution-focused approach enabled OYAK ANKER Bank GmbH to minimize risks and achieve fast, sustainable outcomes, making a confident and solid transition to a modern banking infrastructure. With Innovance’s technology vision and engineering power, OYAK ANKER Bank GmbH is now prepared not only for today’s digital banking needs but also for those of the future. Executive Insights Yusuf Ürey, Co-Founder and CEO of Innovance: “This transformation is not only a milestone for Innovance but also for digital banking initiatives in Germany. It clearly demonstrates what can be achieved when forward-looking banks collaborate with agile technology partners. We helped OYAK ANKER Bank GmbH move beyond traditional systems and step into a future shaped by agility, intelligence, and cloud-based excellence. This project sets a new standard in core banking transformation.” Mehmet Ali Özcan, Managing Director of Innovance: “We built more than a system — we delivered lasting digital superiority. With this transformation, OYAK ANKER Bank GmbH can rapidly launch new products, scale operations, and deliver the digital experience modern customers expect.” Client Testimonials Ümit Yaman and Dr. Süleyman Erol, Managing Directors of OYAK ANKER Bank GmbH: “Transforming our core banking infrastructure was a key step in our long-term strategy. Our goal was clear: to build a digital foundation that meets customer expectations, supports future growth, and complies with regulations in Germany and across Europe. Thanks to the commitment of our internal teams and the expertise of our partners at Mambu and Innovance, we created a future-ready solution without disrupting business continuity.” Duygu Apaydın, CTO of OYAK ANKER Bank GmbH: “This transformation marks a major milestone in our digital journey. By migrating our core banking systems to a cloud-based infrastructure, we significantly enhanced our agility, resilience, and innovation capabilities. We can now respond more quickly to modern banking customers’ expectations and adapt swiftly to market changes. With Innovance as our technology partner, we completed this transition smoothly and securely, laying a solid foundation for the future of OYAK ANKER Bank.” Partner Perspectives Mark Geneste, Chief Revenue Officer (CRO) at Mambu: “As financial institutions increasingly prioritize the modernization of core banking systems — the foundation of innovation — OYAK ANKER Bank GmbH’s rapid transition to Mambu’s cloud banking platform, successfully executed by Innovance, strongly demonstrates both the feasibility and value of core banking transformation.” Cenk Bozal, Country Manager DACH at Mambu: “Mambu’s future-ready platform enables banks to break free from the limitations of legacy systems, accelerate innovation, and achieve sustainable growth. We are thrilled to have contributed to OYAK ANKER’s transformation through our strong partnership with Innovance. We will continue to support their success and closely follow their development in the coming period.” More Than a Success — A New Beginning With this robust digital infrastructure, OYAK ANKER Bank is ready to scale its services, adapt to changing market conditions, and set a new standard in digital resilience and customer-centricity in the German banking sector. But for Innovance, this is just the beginning. We continue to push the boundaries of digital banking, modernize systems, enable innovation, and deliver tangible business outcomes through collaborations with visionary financial institutions across Europe and beyond. This transformation didn’t just modernize a bank — it redefined the boundaries of digital banking and set the standards of the future today.

Zopa, the UK savings and lending digital bank backed by SoftBank, has acquired payments platform Rvvup as it looks to expand its retail finance offering. Rvvup was founded in 2021 by former PayPal-owned Braintree executive David Nunn with alumni from Ripple, Square and Airbnb.Rvvup is a payments infrastructure startup, which is designed to make payments easier for businesses. According to the Rvvup website, the startup helps unite payment tech across debit and credit cards, digital wallets, BNPL, open banking and digital currencies. Zopa said: “New and existing merchants benefit from a single, simple integration, deeper data insight, better payment conversion and lower overall processing costs within the next six months." Zopa also touted Rvvup’s AI Payment Agent, which it says “ automates the entire payment process, choosing the optimal payment method to reduce costs and boost sales”. Rvvup works with businesses including Tile Giant, MP Moran, French Bedroom, Mole Valley Farmers, and Fireaway Pizza. It has around 15 staff. Retail financing, which allows shoppers to spread the cost of payments via instalments or credit facilities, has become popular with startups, as big banks shy away from such form of lending. The acquisition marks Zopa's second following that of DivideBuy in 2023. Tim Waterman, chief commercial officer, Zopa Bank, said:"Acquiring Rvvup is a key milestone in both Zopa’s growth trajectory and our purpose of building the home of money". David Nunn, founder and CEO at Rvvup, added: “At Rvvup, we set out to remove the complexity of payments, unifying every method and channel into a single platform. By integrating Rvvup’s technology into Zopa, we will have a unique proposition in the market as the only platform to combine lending, banking, and multi-rail payments with AI embedded into the platform.”

Siena Secondary Fund II, a VC direct secondaries vehicle focused on Central and Eastern Europe and the Nordics, has announced a major closing, with the European Bank for Reconstruction and Development (EBRD) and Estonia’s state-owned SmartCap stepping in as lead investors, each committing €10 million. The investors join Isomer Capital, already a cornerstone investor in both Siena Fund I and Fund II, along with a broad base of over 100 private investors, including founders, early backers, and key employees of some of the region’s most successful tech companies, like Bolt, Vinted, Pipedrive, Twilio, Wise, etc.  Siena Secondary Fund I has already built a strong track record, with a portfolio that includes standout companies like Bolt, Oura Ring, and Booksy – fast-growing category leaders with global reach and strong fundamentals. Siena Secondary Fund II continues to attract institutional and private capital across Europe and remains on track to reach its target fund size by year-end. Siena’s model targets growth-stage technology companies in the CEE and Nordics regions with revenues exceeding € 10 million, executing direct secondary transactions by acquiring equity from early investors, founders, and employees. This unlocks liquidity while aligning incentives for continued performance and successful exits. This milestone underscores the rising strategic importance of venture direct secondaries – a rapidly maturing asset class that enables early stakeholders to access liquidity while reinforcing the growth trajectories of Europe’s top-performing technology scale-ups.  Michael Parry, Head of Venture Funds at EBRD, said:  “Direct secondaries are becoming a key driver of maturity and sustainability in the European venture ecosystem. They provide targeted liquidity while supporting long-term value creation and governance.” Sille Pettai, Managing Director of SmartCap, added:  “We see tremendous potential in VC secondaries to amplify capital efficiency and fuel regional success stories. On top of that, we see how this helps to further fuel the spinning of the tech flywheel – helping to launch new startups and bringing new investors to the ecosystem.” Rain Tamm, General Partner at Siena Secondary Fund, commented:  “VC secondaries are no longer niche – they’re a smart, strategic layer in a maturing ecosystem. Siena is proud to lead this movement in one of the most dynamic regions for innovation in Europe.”

Munich-based Tangany, a digital asset custodian, has closed a €10 million Series A funding round. The raise marks a major milestone in the company’s evolution from fast-growing startup to key pillar of Europe’s regulated financial infrastructure. Trusted by leading brands such as FlatexDEGIRO, eToro, Bitvavo, and Finanzen.net ZERO, Tangany now safeguards over €3 billion in digital assets and supports more than 700,000 active customer accounts. The BaFin-regulated fintech serves over 60 institutional clients with its market-leading B2B custody platform, enabling banks, trading platforms, and fintechs to integrate blockchain technology via a white-label API that reduces costs, accelerates go-to-market efforts, and ensures regulatory compliance. Since its seed round in 2022, Tangany has doubled its revenue, scaled its organization, and positioned itself as one of Europe’s leading crypto custody providers. With MiCA on the horizon, the company is set to strengthen its leadership in the regulated digital asset ecosystem and expand its role in making digital assets accessible across Europe. Martin Kreitmair, CEO and Co-founder of Tangany, shared: This Series A round represents more than just capital; it’s a strong signal of institutional trust in Tangany’s vision and infrastructure. We’re proud to welcome well-established European institutions as shareholders, further strengthening our position within the financial sector. Their involvement reflects our shared commitment to secure, regulated digital asset infrastructure. At the same time, Tangany remains fully independent. Our shareholder structure now mirrors our ambition: becoming an integrated part of Europe’s financial system. Tangany has expanded its presence in the financial sector by strengthening its long-standing partnership with Baader Bank and collaborating with Elevator Ventures / Raiffeisen Bank. These partnerships mark the start of a new growth phase, working with carefully selected institutions that share Tangany’s long-term vision. Each partnership strengthens its position as a trusted infrastructure provider for regulated institutions across Europe. The round was led by a group of financial institutions, including Baader Bank (Germany), Elevator Ventures, the venture capital arm of Raiffeisen Bank International (Austria), and Heliad Crypto Partners, the digital assets investment arm of Heliad AG (Germany). Oliver Riedel, Deputy CEO, Baader Bank, commented: Digital assets will play a critical role in the future of financial markets, and regulated infrastructure is key to enabling that transformation. Tangany has shown both the regulatory maturity and the technological depth needed to serve financial institutions at scale. We’re proud to support a company that’s helping shape the future of custody in Europe. According to Thomas Muchar, Managing Director at Elevator Ventures, Tangany holds a unique position at the crossroads of digital innovation and institutional-grade compliance. He added: Their technology stack and regulatory-first mindset align with what banks need to safely enter the digital asset space. We’re excited to join them on this next chapter of European expansion. Several existing investors, such as HTGF and Nauta Capital, also reaffirmed their commitment by joining the round. Together, these shareholders highlight Tangany’s deeper integration into Europe’s financial ecosystem and further strengthen its governance and institutional profile. Carles Ferrer, General Partner, Nauta Capital, added: Tangany’s digital assets under custody have grown 7.5x from €400m to €3bn since we led the company’s Seed round in 2022. That success has established the provider’s significance in the European financial ecosystem and has attracted some of the largest institutions around to join the mission as shareholders. This is a testament to the team, the product, and the traction to date. We’re delighted to see Tangany close such a strong Series A round, and we cannot wait to see what’s next for the company.

Klarna is launching its debit card across the EU, with the UK soon to follow, as the Swedish fintech looks to up the ante against existing banks. Klarna, most well-known for its BNPL products, is looking to reposition itself as a bank. Klarna is also gearing up for another crack at an IPO, with reports that it is seeking a valuation between $13bn and $14bn when it lists in the US, which could come as early as this month. As part of this shift to become a bank, across the EU Klarna is launching the Klarna Card, a card that offers consumers the option to pay immediately, choose Pay in 3 or Pay Later, or use longer-term financing for larger purchases, online or in-store. The Klarna Card launched in the US in July this year, with Klarna, which has over 100 million active users, saying 685,000 Americans have signed up. Klarna is currently rolling the card out to customers in Austria, Belgium, Finland, France, Ireland, Italy, the Netherlands, Portugal, Spain, and Sweden, with the plan to roll out across the subsequent markets of Denmark, Germany, Norway, and Poland. It also plans to launch the card in the UK. Visa is the card network partner for the Klarna Card, so this means the card will be accepted at over 150 million Visa merchant locations. The Swedish fintech is touting its card as an all-encompassing payment option, saying the card can pay for everything from everyday essentials to bigger one-off purchases. Klarna points out that card-based purchases now account for 10 per cent of Klarna’s payment volume. Sebastian Siemiatkowski, co-founder and CEO of Klarna, said: "When I was a teenager working in retail, the checkout terminals gave consumers a simple choice: debit or credit. "Over time, that choice was taken away and consumers had less control over when to use debit or credit. Our new Klarna Card brings that choice back, giving consumers control over their money again.”

Quantum algorithms company Phasecraft has raised $34 million in Series B funding to accelerate its breakthrough work and transform quantum computing’s theoretical promise into practical applications. Quantum computing hardware and software are converging on commercial utility, which is only possible by leveraging ultra-efficient algorithms, like Phasecraft’s. Its unique algorithms are hardware-agnostic, and partnerships with leaders such as Google Quantum AI, IBM, Quantinuum, and QuEra are enabling the company to push even faster towards quantum advantage.  The company’s quantum-enhanced approach uses quantum computing alongside standard computing to overcome its limitations and enables today’s Noisy Intermediate Scale Quantum devices (NISQ) to tackle problems that were previously inaccessible, without waiting for perfect hardware. This brings quantum applications to industry sooner than anticipated. Phasecraft is already working with end-users such as speciality materials developer Johnson Matthey, solar cell developer Oxford PV, the UK’s National Energy System Operator (NESO), and leading telecommunications provider BT.  Ashley Montanaro, co-founder and CEO of Phasecraft, said:  We’re actively creating quantum advantage at Phasecraft. Our algorithms are delivering meaningful results now, whether it’s simulating the physics of complex materials or optimizing the structure of a large energy network, whilst our partnerships with the world’s top quantum hardware providers increase the impact our algorithms will have for commercial applications. We’re delighted to have the backing of our visionary investors, such as Plural, Playground Global, and Novo Holdings, to support us on the mission to bring quantum advantage to the world faster. By designing algorithms based on novel insights from theoretical physics and computer science, coupled with knowledge gained from extensive numerical simulations and a deep understanding of quantum hardware, Phasecraft’s work is already gaining momentum. Phasecraft’s work spans material science, where it makes simulating materials millions of times more efficient, and biological research, where it applies quantum computing to biochemical processes relevant to drug development for genetic conditions. It is also advancing energy resilience by using quantum methods to optimise energy networks. Its work is addressing areas such as material science, by making simulating materials millions of times more efficient and biological research by applying quantum computing to key biochemical processes relevant to drug development for genetic conditions. It is also advancing energy resilience by using quantum methods to optimize energy networks. The round was co-led by Plural, existing backer Playground Global, and Novo Holdings’ Quantum Fund in its first direct quantum software investment, with additional participation from existing investors LocalGlobe, AlbionVC, and Parkwalk Advisors. Ian Hogarth, partner at Plural, said: Phasecraft is revolutionising the quantum landscape in ways that were previously thought impossible. Its hardware-agnostic approach means it’s been able to work with several of the world’s most powerful computing devices, creating algorithms that are more efficient by factors of millions and that are now helping to solve real-world problems like material discovery and the optimization of our energy networks. It's to the credit of the best-in-class team that Ashley and Toby have built that some of the biggest tech companies in the world, including Google and IBM, see Phasecraft as the way to accelerate the impact of their own devices. I’m incredibly excited to continue supporting Phasecraft not just as Chairman, but as an investor as well. According to Peter Barrett, General Partner at Playground Global, society has yet to experience the possibilities of quantum materials, remaining largely unaware of the untapped potential they hold. He added: With advancements in quantum algorithms from Phasecraft, we are poised to shift from discovery to design, entering an era of unprecedented dynamism in chemistry, materials science, and medicine. Jeroen Bakker, Partner at Novo Holdings, also commented on the investment: The impact quantum computing will have on the world is undeniable, particularly in the life sciences. Quantum algorithms offer tremendous potential for molecular simulation to predict drug efficacy and optimise design. This is why we are excited to make our first quantum software investment from our new Quantum Fund in Phasecraft. We’re excited about Phasecraft's ability to enable healthcare breakthroughs that could save millions of lives while reducing R&D timelines from decades to years. The new funding, which brings the total raised to over $50 million including grant funding, will allow the company to double down on its R&D breakthroughs and expand industrial efforts, building real-world solutions for end users.

Geneva-based Allasso, the fintech that brings data-backed, modern analytics to one intuitive interface for financial market professionals, has secured $3 million in investment in its latest funding round. Allasso delivers modern analytics and risk management tools that empower traders, brokers, and hedgers to make faster, smarter, and more responsible decisions. By enabling entire trading teams to work from the same playbook, Allasso drives better outcomes across the enterprise and beyond. Its flagship trading tool, Allasso Copilot, brings the fastest, most comprehensive options analytics, combining backtesting, scenario analysis, idea generation, historical analysis, and risk management to one interface. Using 20 years of best-in-class data to meet the widespread data inadequacy in the industry, and delivering all insights fast and intuitively on one screen, Copilot gives traders 360-degree clarity, saving time, reducing risk, and bringing greater potential returns. Felix Euler, Co-founder of Allasso, said: The trading industry has been held back for too long by fragmented and outdated systems. At Allasso, we want to change the game for financial markets professionals across the board and, among them, the next generation of data science-ready graduates who expect better trading tools. From hedge funds and brokers to systematic trading firms and to other asset classes, Allasso’s trading tools give professionals the clarity they need to make more rational and risk-aware decisions. The round was led by Fuel Ventures with participation from angel investors, building on early backing from industry supporters. Mark Pearson, Founder of Fuel Ventures, commented:  Felix and Vadim are a prime example of the founders we love to back: problem-solvers using their years of experience and insight to disrupt outdated systems with smarter, more efficient solutions. They are redefining what is possible in pre-trade analytics and risk management, helping traders manage risk and make more informed decisions, and we’re proud to support their growth. This round marks a key milestone in Allasso’s mission to replace outdated trading infrastructure, limited cloud adoption, and fragmented systems. The funding will help Allasso scale commercially and expand into other asset classes, STIR and bond futures, ETFs, FX, single stocks and crypto.

CNES (Centre National d'Etudes Spatiales), the public establishment responsible for proposing French space policy to the Government and implementing it in Europe, has awarded €31 million in strategic funding to UNIVITY — formerly Constellation Technologies & Operations — as part of a France 2030 call for projects operated by CNES.  This support marks a decisive step in the development of space-based 5G made in France and in the realisation of UNIVITY’s industrial ambition. While American and Chinese giants dominate the race for satellite connectivity, French startup UNIVITY is changing the game with a bold vision rooted in innovation and industrial sovereignty.  Selected under the France 2030 space program following a competitive bidding process, UNIVITY — together with TDF — will carry out a demonstration of satellite-based 5G connectivity.  Through real-world use cases, this experiment will validate the relevance of a fully integrated 5G NTN solution, designed and built in France, combining very low Earth orbit (VLEO) satellites with terrestrial infrastructure. TDF will play a central role in the project’s operational implementation, managing the hosting, installation, operation, and maintenance of three gateway stations—two in mainland France and one overseas. These gateways will be essential to ensure seamless interoperability between the satellite system and telecom operators’ terrestrial networks. The France 2030 co-funded project, with 30 per cent industrial contribution, will unfold through to 2028 in two phases: Phase 1 (July 2025 – April 2026): technical specification and use case studies. Phase 2 (April 2026 – February 2028): assembly, integration, testing, launch, and in-orbit operation of two VLEO 5G satellites communicating with gateways and ground terminals to demonstrate high-throughput, low-latency services. “Thanks to France 2030 funding, CNES is supporting UNIVITY in preparing, through the in-orbit demonstration ‘uniShape,’ a satellite-based 5G-NTN service designed to meet the needs of terrestrial operators. UNIVITY’s ‘ uniSky’ constellation aims to deliver a distinctive French solution for high-speed space-based 5G-NTN connectivity, serving both consumer and professional users, built on innovative concepts and breakthrough technologies,” said Caroline Laurent, Director of Orbital Systems and Applications, CNES. According to Véronique Bonnet, Program Director at UNIVITY: “We are proud to have the support of France 2030 for this project, which represents a true strategic milestone for us. This recognition validates both our expertise and our vision of converging terrestrial and space networks. Our entire team is fully committed to this challenge, ready to deliver with enthusiasm, ambition, and determination." This €44 million program consolidates UNIVITY’s ambitious trajectory. Less than six months after raising €9.3 million, the company successfully launched its first regenerative 5G mmWave payload for space telecommunications in June 2025. Next milestones include the launch of two prototype satellites in 2027, followed by the gradual deployment of the constellation between 2028 and 2030. Image: From left to right: Charles Delfieux, CEO of UNIVITY, and Christelle Boustie, Deputy Director of Telecommunications and Navigation Projects at CNES, during the official contract signing. Credit: Photo © UNIVITY / CNES

myypaperwork, a platform that simplifies residence and work permits in Europe, has raised €500,000 in a pre-seed funding round.  The platform is the brainchild of software startup Fresh Labs FlexCo, which was founded in Vienna in 2024 by an international team with roots in the USA, Czech Republic, and Austria: Maggie Childs (CEO), Vít Lichtenstein (CPO), and Benjamin Wolf (COO).  In April 2025, the company launched its first commercial product, the “RWR+ Card Application Assistant”, created to help more than 80,000 Ukrainians in Austria apply for the RWR+ residence card.  Since then, the platform has expanded to cover additional permits, including the Red-White-Red Card for skilled workers from third countries, the EU Blue Card, and student visas.  Angels United, a joint venture led by Karl Büche, Markus Ertler, Hermann, Niki Futter, and Michael Edtmayer, provided the funding.  “The shortage of top talent is a major challenge for economic growth – one that will only intensify as birth rates decline. mypaperwork is a scalable solution to a real and pressing problem, built on a solid business model. Digitisation is the right response to overwhelming bureaucracy,” says Markus Ertler, investment lead at Angels United.  “This pre-seed investment is a strong vote of confidence. It shows that Europe can become a true magnet for global talent – in a humane, transparent, and efficient way,” says Maggie Childs, CEO and co-founder of Fresh Labs.  “While the US increasingly closes its doors, Europe has the opportunity to attract skilled professionals and researchers from around the world. mypaperwork is building the digital infrastructure to make that possible.”  Early results underline the potential of digital solutions in immigration. Every application submitted by Ukrainians through mypaperwork so far has been approved – a 100 per cent success rate. With the new funding, the team will expand its capabilities, broaden the product offering, and prepare for market entry into the Czech Republic in Q4 2025, followed by further European markets in 2026. 

Today, a coalition of 33 digital health organisations from across Europe, including industry associations and startups from France, Germany and other EU member states, has published a joint statement urging European decision-makers to establish a convergent and pragmatic evaluation framework for digital medical devices (DMDs) starting in 2026. The signatories warn that Europe’s position as a global leader in digital health is at risk, not due to a lack of innovation, but ongoing regulatory fragmentation. The statement asserts that as long as each country follows its own approach, the European digital single market remains theoretical. This patchwork system leads to duplication of effort, prevents companies from scaling across borders, and delays patient access to treatments that have already been proven safe and effective. More critically, it undermines Europe’s ambition to achieve technological sovereignty and compete on equal terms with global powers. “The race for European Technological Sovereignty is happening now. We need access to a unified European digital health market - now.” Remote monitoring and digital therapeutics thrive locally, but stall at EU level With its 450 million citizens, the European Union (EU) faces numerous healthcare challenges, including an ageing population, an increase in the prevalence of chronic illnesses, and a growing shortage of healthcare professionals. A new generation of European digital health startups has already demonstrated its potential to address these challenges through robust clinical studies and technical certifications in their home markets. The adoption of their solutions is well-established among patients and healthcare professionals (HCPs). Hundreds of thousands of patients have already used remote patient monitoring (RPM) or remote therapeutic monitoring (RTM) in France, or digital therapeutics (DTx) in Germany, following a medical prescription. However, according to the statement, diverging evaluation frameworks across EU member states prevent these solutions from scaling from one country to another and from accessing sustainable economic models. The statement contends: “In the context of intense global competition and rapid technological advancement, this fragmentation threatens the survival of the European digital health industry and undermines the EU’s technological sovereignty. It also leads to unequal access for patients, healthcare professionals, and payers across Europe.“ Fragmented rules could leave digital therapeutics and AI health tools obsolete The coalition advocates for a unified EU evaluation framework with consistent clinical and technical criteria. It would not only enable the emergence of strong European players capable of competing globally but also safeguard Europe’s technological sovereignty, but support the integration of digital health solutions into the upcoming European Health Data Space (EHDS). Without the widespread adoption of these solutions across the EU, the EHDS risks remaining as a theoretical construct with limited operational impact. Next steps Starting in 2026, particularly in France and Germany, the largest healthcare markets in Europe, the coalition urges for alignment on: Technical requirements for DMDs certification Clinical evaluation criteria for Digital Therapeutics (DTx), Remote Patient Monitoring (RPM), Remote Therapeutic Monitoring (RTM) and AI-powered health solutions Operational procedures and methodologies for DMDs reimbursement pathways. The statement asserts: “We also call for the future European evaluation framework to be truly pragmatic, ensuring that healthcare innovations can access the EU-wide market within a reasonable timeframe (2 to 3 years maximum) after their launch in their home country. Beyond this timeframe, such technologies risk becoming obsolete.“ Signatories include: Industry associations: Frédéric Girard, France Biotech Marianne Tordeux Bitker, France Digitale Guirec Le Lous, MedTech in France Anne Sophie Geier, Spitzenverband Digitale Gesundheitsversorgung (SVDGV) Companies: Matthieu Lamy, Ad Scientiam Guillaume Ploussard, AIMED2 Boris Lévêque, Axomove Felix Köhler, Cara Care François-Guirec Champoiseau, Cureety Stanislas Niox-Chateau, Doctolib Nadine Rohloff, Endo Health GmbH Fabien Watrelot, ENSWEET Emeline Hahn, Fizimed Stan Sugarman, GAIA AG Hannes Klöpper, HelloBetter Arnaud Rosier, Implicity Manuel Thurner, Kaia Health Alexia Adda, Klava Jens Nörtershäuser, Kranus Health Pierre-Camille Altman, MDHC Philip Heimann, Vivira Health Lab

AI hiring platform Hubert has raised €2.5 million Seed funding. Built on proprietary technology, Hubert autonomously conducts structured screening interviews, 24/7 at scale, helping organisations streamline frontline and operational hiring. The platform reduces time-to-hire, saving up to 80 per cent of recruiter screening time, improves quality by up to 5x and enables fairer, more consistent candidate evaluation. At a time when talent acquisition teams face increasing pressure to deliver results fast and at scale; Hubert offers a structured, bias-aware and scalable alternative to traditional screening, alleviating this challenge. With clients including Securitas, Coop, and ManpowerGroup, Hubert serves high-volume employers across retail, logistics, hospitality, and business process outsourcing.  Spintop Ventures led the funding with participation from Bonnier-linked profiles Jakob Tolleryd, Chairman of Bonnier Capital, Peder Bonnier, Vice Chairman of Bonnier Group, and Joen Bonnier, Board Member of Bonnier Capital.  The funding follows a year of exceptional growth and sustained profitability, and will be used to accelerate Hubert’s product innovation as the company targets over 400 per cent revenue growth in 2025, while remaining profitable. According to Peter Carlsson, Partner at Spintop Ventures,  Hubert is setting a new global standard for fair, data-driven hiring.  “The positive outcomes of AI interviews have already been demonstrated in multiple studies and Hubert’s explainable AI has all the ingredients to scale into a category leader.” “This investment gives us the funds to accelerate our product roadmap and seize the opportunity ahead,” said Fredrik Östgren, CEO and co-founder of Hubert. “We're revolutionising large-scale hiring for our customers; and doing it profitably, with fairness and transparency at the core.” Lead image: Fredrik Östgren, CEO and co-founder of Hubert. Photo: uncredited.

Last week, we tracked more than 55 tech funding deals worth over €733 million, and over 15 exits, M&A transactions, rumours, and related news stories across Europe.Click to read the rest of the news.

Car leasing company LIZY has raised €75 million to further establish circular electric leasing.  Before LIZY came along, each new leasing contract meant producing a new car. When the contract expired, the vehicle was resold because a second leasing phase was not considered sufficiently profitable.  LIZY took a different approach: from the outset, the company believed in the potential of used leasing, particularly for smaller businesses. It has thus built a reputation as an affordable leasing partner while offering a quality service. Today, as electric vehicles become more widespread, the rest of the leasing sector is gradually following the path paved by LIZY.  For electric vehicles, the "one and done" model makes little sense because they last longer and require less maintenance than combustion engine cars. They can easily be leased a second or even a third time. Accelerated electrification is therefore the ideal catalyst for LIZY to move up a gear. Founded in 2019, the Brussels-based company quickly made a name for itself in Belgium and has expanded into France and the Netherlands in recent years. It doubled its employee headcount to 60 in touch years and achieved a +100% increase in turnover by 2024. The €10 million in capital and €65 million in debt financing is provided by existing shareholders D'Ieteren, Alychlo (Marc Coucke's investment vehicle) and NewAlpha Asset Management.  "For LIZY, used car leasing has been a no-brainer for years," explains CEO Sam Heymans.  "Electrification is central to our approach. Electric vehicles have a longer lifespan and require less maintenance.  In addition, the environmental benefits increase as the vehicles are used for longer. Thanks to this new investment, we can now roll out our concept even faster internationally."  LIZY has always had clear, ambitious plans and an original positioning," says Marc Coucke, founder of Alychlo.  "The company is now seeing its efforts rewarded with strong growth and can ride the wave of electrification. All this is the result of its ambitious vision and determination. For Alychlo, investing in LIZY is perfectly in line with our objectives: it is Belgian, sustainable, ambitious and innovative." "Electric mobility is clearly the future, but for small businesses, new electric vehicles still represent a significant investment," says Denis Gorteman, CEO of investor D'Ieteren.   "LIZY's used car formula makes electric leasing accessible to more customers, thereby accelerating the transition to electric fleets within companies. As a large proportion of the kilometres travelled on our roads are for business purposes, this accelerated transition has an additional positive impact on the environment." According to Heymans, the capital allows LIZY to promote its circular approach on a larger scale, offering companies across Europe access to high-quality, affordable and sustainable mobility.

This week we tracked more than 55 tech funding deals worth over €658 million, and over 15 exits, M&A transactions, rumours, and related news stories across Europe. If email is more your thing, you can always subscribe to our newsletter and receive a more robust version of this round-up delivered to your inbox. Either way, let's get you up to speed.   ? Notable and big funding rounds ?? Ortivity secures €200M to expand outpatient orthopaedic care ?? Framer secures $100M Series D, hits $2B valuation ?? ProVerum raises $80M in Series B funding ??‍?? Noteworthy acquisitions and mergers ?? OrganOx acquired by Terumo Corporation?? MariaDB reacquires SkySQL to strengthen cloud, agentic and AI database offering?? PEAC Solutions acquires German fintech topi to bolster European expansion?? CrowdStrike acquires Spanish telemetry startup Onum to catch hacks sooner and cut data costs?? Palmer Energy Technology acquires battery tech firm Brill Power

Northmill is targeting expansion across the EU, as the Swedish challenger bank reports quarterly pre-tax profits of 56 million kronor (€5.1m). The retail and business bank currently operates across the Nordic markets of Sweden, Norway, and Finland. The challenger bank was founded in 2006 and secured a full banking licence in 2019, regulated by the Swedish Financial Supervisory Authority. It has around 140,000 retail and 4,000 business customers and competes against big incumbent banks in Sweden. It is backed by M2 Asset Management, the Swedish investment company, and the asset management firm Coeli. Julie Chatterjee, Northmill CEO, said: “We want to continue expanding our presence, with Finland as a key priority — and next year, into new markets as well. Our playground is the entire EU.” When asked about which specific EU markets, Chatterjee said it was still scanning prospective markets, gauging market fit. Northmill offers savings, credit, payments and insurance. Its Q2 earnings, which were up from 46 million kronor the year previous, were helped by consumer card growth, which now numbers more than 140,000 holders. Chatterjee also discussed Northmill’s adoption of AI tools. Chatterjee said: "We take a pragmatic view on AI. It should support and accelerate the overall strategy." And in a light-hearted dig at Klarna, she added: “For us, the strategy is scalability through AI, and we apply it where it truly adds value — so you won’t see me as an avatar presenting our Q2 results.” Chatterjee added: “Our priority is to build internal LLMs and leverage AI to strengthen our capabilities, rather than focusing primarily on customer-facing applications.” Areas in which the bank is using AI tools include its IT departments using AI coding assistant Cursor, marketing using an AI SEO tool, leveraging AI for automating credit decisions, and using AI as a customer service support tool.

Japanese electronics giant Panasonic has reopened its newly expanded “giga factory” in Pilsen, Czech Republic, following a €320 million investment aimed at significantly scaling up production of heat pumps for the European market. The move marks one of the largest manufacturing investments in Europe’s heating and cooling sector in recent years. The upgraded facility will serve as Panasonic’s primary European production and R&D hub for its air-to-water heat pump solutions, with an annual capacity projected to reach 1.4 million units by 2030. The expansion forms part of Panasonic’s broader strategic shift, transferring heat pump production and R&D from Southeast Asia to Europe, in line with EU decarbonisation targets and rising demand for localized clean energy solutions. "At Panasonic, we see Europe as particularly advanced when it comes to sustainability, and therefore the acceptance of sustainable energy solutions,” said Toshikatsu Fukunaga, CEO of Panasonic HVAC Europe. “Our investment into the Pilsen factory demonstrates both our confidence in the growth of the market and our ability to anticipate and meet future demand." The reopening comes at a pivotal moment for the European heat pump market. In 2024, the sector was valued at €12.2 billion, with forecasts expecting it to surpass €71 billion by 2034, according to Global Market Insights. As countries phase out gas boilers and pivot to electrified heating, companies like Panasonic are racing to meet growing residential and commercial demand. The European Commission has called for the installation of 30 million new heat pumps by 2030. “The heat pump sector is boosting Europe’s energy security, our economy and our path to decarbonisation… Today’s factory reopening is both a big step forward and a clear message that heat pumps will inevitably be at the heart of our future global energy system,” said Paul Kenny, Director General of the European Heat Pump Association. “The factory in Pilsen is set to become Panasonic’s central hub for heat pump production and supply in Europe,” said Radek Vach, Business Planning Director, Panasonic HVAC CZ. “Bringing R&D and production together on the same site enables speed, flexibility, and cost efficiency, while reducing logistics-related emissions.” “The opening of this state-of-the-art heat pump production facility strengthens the competitiveness of Czech industry, brings new skilled jobs, and confirms that the Czech Republic offers attractive conditions for technologically demanding and innovative projects,” said Czech Prime Minister Petr Fiala, who attended the ceremony. The facility is located in what Panasonic refers to as the Czech Republic’s own “Silicon Valley,” a region known for its concentration of engineering talent and tech firms. Panasonic has been operating in the Czech Republic since 1997, and the expansion is expected to create a significant number of high-value jobs in manufacturing and research. “Pilsen itself is in the Czech Republic’s own ‘Silicon Valley,’ with many high growth and innovative tech companies nearby… It has a highly qualified workforce, as well as strong opportunities for collaboration with local academic institutions,” added Radek Vach. Globally, Panasonic has committed to achieving Net Zero in its own operations by 2030, and across its value chain by 2050. The Pilsen facility contributes directly to these goals, helping Panasonic not only scale production but also align with ESG priorities that are increasingly vital to both policymakers and institutional investors. By shifting key operations to Europe, the company also hedges against supply chain disruptions, rising geopolitical tensions in Asia, and increasing scrutiny of embedded emissions in imported goods. The move positions Panasonic as a front-runner in the European clean heating market, putting it in direct competition with local and regional players such as Vaillant, Viessmann, and Bosch Thermotechnology, all of whom are scaling their own heat pump capabilities in response to surging demand and policy incentives.

UK-based Palmer Energy Technology Limited (PETL), a battery energy storage system startup, has announced the acquisition of Brill Power, a spin-out from the University of Oxford known for its advanced battery management technology. The deal is backed by a new £5 million Series A round co-led by FirstGroup plc, Barclays Bank, and the University of Oxford. This transaction marks a significant consolidation of UK-based innovation in the battery energy storage space, bringing together PETL’s automotive-grade BESS technology with Brill Power’s cell-level battery control software. The combination is expected to enhance safety, efficiency, and lifecycle performance in battery deployments across sectors, from electric buses to grid-scale storage. “PETL’s acquisition of Brill Power enables us to embed the Brill software in all of our systems, instantly giving PETL a leading position in the space to serve customers such as FirstGroup,” said Andy Palmer, CEO and co-founder of PETL. “With buses at the forefront of the transition to electric vehicles and net zero transportation, I’m delighted to welcome investment from FirstGroup, as well as Barclays and Oxford University, to advance the development of next-generation control systems. This will allow us to accelerate our business and give the UK a leading position in BESS technology.” Brill Power, founded in 2016 by a team of Oxford engineers and scientists, has developed proprietary technology that improves battery safety and performance by actively managing the current drawn from each individual cell based on its condition. The system helps extend battery life and efficiency—critical for industries like transport and energy storage where downtime or degradation has high cost implications. Brill Power’s control software is engineered and validated in the UK. With all operational data stored on UK-based servers to support security and compliance. While Brill Power will now operate under PETL for integrated systems, its brand will continue independently for module sales to third-party partners. The acquisition and growth capital are part of a broader play to scale PETL’s UK operations, enhance domestic assembly and shorten supply chains. The £5 million funding round was co-led by FirstGroup Energy Limited (the dedicated energy investment arm of FirstGroup plc), which is both a strategic investor and customer of PETL. “This investment continues our strategy of backing new and innovative companies aimed at supporting our long-term public commitment of achieving a zero-emission fleet by 2035,” said Faizan Muhammad, Investment Director at FirstGroup plc. “PETL, along with its acquisition of Brill Power, will unlock innovative energy procurement solutions whilst providing second life use cases when batteries are taken off electric buses.” “It is great to see the coming together of PETL and Brill Power to accelerate their novel energy storage technologies,” said Adam Workman, Head of Investments and New Ventures at Oxford University Innovation. “Alongside FirstGroup, we hope that the combined business will accelerate the commercialisation of its energy platforms.” The PETL-Brill Power deal reflects a wider trend in Europe’s cleantech and energy storage ecosystem, where innovation in battery systems, from hardware to software, is seen as essential to achieving net zero targets and ensuring grid stability amid the clean energy transition.

London-based Synkka, an AI platform automating the full carrier integration process, has closed an oversubscribed pre-seed round led by Ascension VC. The round is notably joined by a syndicate of seasoned parcel delivery experts who have built and scaled the industry's key players, including founders and executives from ITA Group, ZigZag, Sendify, LetMeShip, One World Express, ex-Asendia, and ex-Global-E. For years, the parcel delivery industry has been bound by a costly rule: to grow your business, you must grow your headcount. Entering new markets, adding carriers, or handling higher volumes has always required more people, more complexity, and thinner margins. This reliance on manual orchestration has acted as a permanent tax on growth, putting companies at a disadvantage when building the delivery networks of the future. Synkka, a new AI-powered platform, is launching to show that this model no longer applies. By creating an AI workforce, digital teams that automate core operational roles, the company enables parcel delivery operations to scale efficiently and profitably. The vision is backed by a founding team that combines deep domain expertise with proven scaling and AI leadership. Torbjörn Maaherra, Founder and CEO of Synkka, explained: The era of scaling a parcel delivery operation by throwing people at the problem is over. Manual labour is a tax on every parcel you ship. We are building the autonomous workforce for the future of parcel delivery, where networks run on intelligence, not headcount. This funding from leaders who have lived this pain is the ultimate confirmation of the industry's urgent need for this change. Synkka’s first commercially available product, the AI Carrier Integration Team, transforms delivery network expansion for any technology company in the e-commerce delivery space, 3PLs, online marketplaces, and cross-border retailers. What was once a slow, costly, and technical bottleneck becomes a growth driver, enabling companies to launch in new markets up to 17x faster, cut the high costs of integration teams, and scale delivery partners without scaling headcount. This translates into faster expansion, reduced costs, and more profitable growth. Looking ahead, Synkka’s roadmap includes deploying a full suite of AI teams to handle the most complex operational roles, from customer support and client implementation to financial reconciliation and proactive customer service. The company’s goal is to build the intelligent, automated workforce required to run delivery operations fully autonomously. This latest investment reinforces industry consensus that the old model is broken and that Synkka’s approach offers the path forward.

Professional website design platform Framer today announced a $100 million Series D funding round led by existing investors Meritech and Atomico, valuing the company at $2 billion, and bringing the company's funding to over $160 million. For over a decade, personal websites have been transformed by visual website builders like Squarespace.  But, professional websites — complex, high-traffic, brand-defining sites — have still required developer-heavy workflows. Framer is ushering in the same shift for professional websites, combining a fully flexible design canvas with enterprise-grade depth. With built-in CMS, A/B testing, analytics, enterprise security, and more. This represents a market shift worth tens of billions of dollars, where businesses can now build beautiful, fully custom professional sites faster, easier, and at a fraction of the cost. Unlike traditional builders, Framer combines a fully flexible design canvas with a state-of-the-art CMS, on-page editing, and rich built-in features like animations, forms, analytics, A/B testing, and live collaboration.  Founded in Amsterdam with offices in San Francisco and Barcelona, Farmer has hundreds of thousands of active websites and half a million monthly active users.  Startups like Scale AI, Perplexity, Miro, and Bilt already power their websites with Framer. 40 per cent of the most recent Y Combinator batch launched on Framer. Since launching business plans late last year, the majority of Framer’s new customers are now businesses, making this the company’s fastest-growing revenue segment.  “Framer is changing the way the best companies bring their ideas online,” said Koen Bok, CEO and co-founder of Framer.  “Designers and marketers can now ship production-ready sites in days, not months—without waiting on a front-end team. That means better-looking, higher performing pages built right where the brand lives.”