Though the coronavirus (COVID-19) outbreak has created a challenging climate for many young businesses, startups and scale-ups in Amsterdam are persevering. Throughout 2020, they secured new funding to support growth and expansion here and abroad, making the city a global tech leader once again.
Check out some of the year's success stories from this list compiled using information from Dealroom's startup ecosystem map:
The unicorns and heavy lifters
Raising $200 million in October and with a current valuation of roughly €3 billion, MessageBird is a unicorn at last. The company specialises in a timely pursuit: making it easier to work remotely. Its communications platform helps businesses connect with customers through voice messaging, SMS, Instagram, WhatsApp and APIs, a type of software interface that allows two applications to interact.
Curated auction platform Catawiki isn’t a unicorn yet, but its profile is rising fast – the company is now worth between €300 and €450 million. Offering thousands of special objects selected by a team of more than 200 experts, the online marketplace just scored €150 million in growth funding in a round led by private equity firm Permira. Catawiki was founded in 2008 and now has over 10 million users, and plans to consolidate in Europe before bidding on the world.
Also achieving unicorn status, payments company Mollie received €90 million in an investment from American firm TCV, making it the Netherlands’ second-best financed FinTech operation. Now worth over $1 billion, Mollie is a unicorn in American dollars (which is no small achievement) and plans to use the money to expand into new countries. Founded in 2015, it welcomed its first outside investors last year and also operates in Germany and France.
Electric bike innovator VanMoof raised almost €34 million in a Series B funding round led by Norwest Venture Partners, Felix Capital and Balderton Capital, which came just months after the company received a €12.5 million investment. With an estimated value of €145 to €218 million, VanMoof will use the capital to meet increased demand, which has surged as people seek new forms of transport in the face of the coronavirus outbreak.
Otrium, an e-commerce startup that helps clothing labels sell excess inventory after a fashion season has ended, raised €24 million in Series B funding to fuel further international expansion. The company offers a platform that helps brands offer unsold stock to a community of one million registered users. Currently, it’s worth between €96 and € 144 million.
In June, crowdsourcing specialists Roamler secured €20 million from Endeit Capital, SmartFin and the Achmea Innovation Fund and is now valued between €80 and €120 million. Founded in 2011, Roamler provides companies with access to professionals and individuals ready to carry out various tasks, ranging from mystery shopping to assisting nursing home residents. The new funds will help Roamler further develop its range of services.
Cybersecurity scale-up EclecticIQ procured an additional €20 million in a Series C funding round led by Ace Management. As a result, the global threat intelligence, hunting and response technology provider now has a value of €80 to €120 million – and rates as Europe’s best funded global cybersecurity scale-up. While the company seeks to expand further in Europe and the US, it also plans to put down roots in the Middle East, Africa and Asia Pacific.
Back in January, online business lender Swishfund received a capital injection of €15 million from several investors, including the Dutch investment fund Slingshot. Now valued at €60 to €90 million, Swishfund lets self-employed people and SMEs take out short-term loans worth between €3,000 and €500,000 for a maximum of one year.
Secure communications specialist Zivver, which offers safe email and file transfer services, raised €14.4 million in funding in a round led by DN Capital with participation from SmartFin. This achievement boosted the company’s worth into the €58 to €86 million range. Zivver plans to use the investment to expand into the UK and other markets while adding new features to its platform, including secure videos and digital signatures.
10. Ace & Tate
Bringing its value to €57 to €86 million, Amsterdam eyewear brand Ace & Tate received €14.25 million in a round led by existing investor Rinkelberg Capital LTD. The direct-to-consumer company will use the money to open stores in new European markets, advance its online technologies (such as its virtual try-on service) and further invest in becoming more environmentally responsible.
Stay up to date
To stay up to date with funding developments and everything else that’s happening in Amsterdam’s startup ecosystem, bookmark the Amsterdam Startup Map.