In Europe’s daily deals we bring you a roundup of the startup fundraises happening on the continent, as they happen.
Today we have The Bank of London’s £42m fundraise announcement after a dramatic weekend — and a geothermal energy startup backed by Bill Gates.
We’ll be posting an article like this every weekday, covering the most eye-catching rounds we’ve seen, starting from €1m. If you have news to share, please email news@sifted.eu with a clear embargo.
Today’s startup deals:
Manchester, UK-based MirrorWeb, a software startup which can monitor and archive company communications, raised $63m in funding from US-based growth equity firm Mainsail Partners, which focuses on funding bootstrapped software companies.
Stockholm-based Baseload Capital, a company developing geothermal energy, raised €53m in Series B funding. Infrastructure fund ENGF led the round and was joined by investors including US oil field services company Baker Hughes, Bill Gates’s Breakthrough Energy Ventures and Swedish family office Gullspång Invest.
- Sifted spoke to Climeon — Baseload Capital’s parent company — way back in 2019, about how it got Breakthrough Energy Ventures on board as an investor.
- Baseload Capital is 1 of 10 companies that Breakthrough Energy Ventures has invested in in Europe.
London-based the Bank of London, a clearing bank, raised £42m in funding. Luxembourg-based Mangrove Capital Partners led the round.
- It’s been an eventful few days for the bank. On Thursday last week, it received a winding-up petition from UK tax authorities over unpaid debts.
- The new investment is unrelated to the winding-up petition, a spokesperson for the bank said; the funding round was closed last month.
- The Bank of London’s board of directors and new management team were unaware of its unpaid debts until last Thursday, three people familiar with the situation told the FT.
- Earlier this month, the Bank of London announced that its founder Anthony Watson would step down as CEO. He’s been replaced by Stephen Bell, the bank’s former head of risk and compliance.
Paris-based Calyxia, which is developing sustainable alternatives to microparticles and microcapsules at an industrial scale, has raised a €35m Series B. French VCs Lombard Odier Investment Managers and Bpifrance led the round and were joined by investors including Brussels-based climate tech investor Astanor.
Bournemouth, UK-based Twenty7tec, which streamlines the process of searching for, applying for and receiving a mortgage, raised £16.5m from the Business Growth Fund.
Paris-based Korint, an insurtech startup founded in 2022, raised €5m in seed funding. Paris-based early-stage VC Ventech led the round and was joined by existing investor 360 Capital.
