/ News / Dutch startup funding: 76 million euro in Q2 2016, fintech on the rise

Dutch startup funding: 76 million euro in Q2 2016, fintech on the rise

Dutch startups have raised 76.2 million euro in the second quarter of 2016. We saw slightly more funding activity compared to the previous quarter, as 69.4 million euro was raised in Q1 2016. This quarter, startups however raised less money compared to the same period last year, when 105 million euro was raised.

In total, we saw 44 deals in the second quarter of this year. The average deal size in Q2 2016 was €1.7M and the median deal size was €697.5K.

Now lets compare this to Q1 2016. There we saw 39 deals, an average deal size of €1.8M and a median deal size of €910K. So these numbers show that there hasn’t been much improvement, only in number of deals. On the other hand Q2 2016 is the quarter with the most deals since we started measuring per quarter in 2015.

The Q1 numbers have been updated for this overview.

Funding in Dutch startups Q2 2016
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We clearly see a quarter-on-quarter rise for the second time in a row. However, this year’s amounts are obviously less than their 2015 counterparts.

Dutch startups: number of deals Q2 2016
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Top 5 deals

We didn’t see much big startup funding deals this quarter. In the top 5 were just two deals over 5 million euro. Medtech startup G-Therapeutics leads this Q2 list with a whopping 26 million euro investment. Cybersecurity startup EclecticIQ raised 5.5 million euro, retail startup Roamler got 4.5 million euro and fintech startup InvoiceFinance got funded for 3.4 million euro. SOWIFI, according to us, is also close making the top 5 deals diverse when looking at types of industry.

Fintech on the rise

Overall, we saw a lot more Dutch fintech deals in Q2 compared to the previous quarter. In Q1 we noted two deals, for BUX and OpenClaims. This quarter we counted 6 deals: InvoiceFinance, Surence, Sposea, Musoni, Tabster and Daalder. The investment in blockchain startup Bitwala could also count.

Here’s the full list of Dutch startup funding in Q2 2016, ranked highest to lowest.

Name Amount (EUR) Type By Who More information Investment from
G-Therapeutics 26,000,000 series A VC LSP, INKEF Capital, Gimv, Wellington Partners StartupJuncture EU, NL, BE, DE
EclecticIQ 5,500,000 series A VC + corporate INKEF Capital + KPN Ventures StartupJuncture NL
SO WIFI undisclosed private equity VC 5square StartupJuncture NL
Roamler 4,500,000 series A VC Endeit Capital StartupJuncture NL
InvoiceFinance 3,400,000 seed VC + angel Peak Capital + Kalo Bagijn StartupJuncture NL
Fastned 3,000,000 crowdfunders via Nxchange Fastned
MDLinking 2,500,000 seed angels Alec Behrens e.a. FinSMEs
Peerby 2,000,000 convertible notes crowdfunders OnePlanetCrowd OnePlanetCrowd NL
Fixico 2,000,000 series A VC Orange Growth + others StartupJuncture NL, UK
Connecterra 1,600,000 seed VC’s + accelerator + angel MENA Ventures (MVI), DeNA, Breed Reply, Elias Tabet StartupJuncture UAE, JP, UK
The Ocean Cleanup 1,500,000 gov + corporate + angel ministries I&M, EZ + Boskalis + philanthropist StartupJuncture NL
CytoSMART undisclosed VC + gov Holland Venture, BOM StartupJuncture NL
Impraise 1,400,000 seed VC HenQ, Palm Drive, China Growth Capital StartupJuncture NL, US, CN
Bidroom 1,000,000 informal investors undisclosed StartupJuncture
Surence 1,000,000 seed undisclosed undisclosed Dealroom
Sposea 1,000,000 series A undisclosed undisclosed Dealroom
Musoni System undisclosed private equity Goodwell Index NL
Autheos undisclosed VC + angel Holland Venture + Guy Bradley StartupJuncture NL + US
L1nda 1,000,000 series A VC’s Newion Investments + DHG StartupJuncture NL + US
Bitwala 800,000 seed VC High-Tech Gründerfonds + Digital Currency Group Dealroom DE + US
Optics11 undisclosed seed VC Value Creation Capital StartupJuncture NL
Pneusmart 745,000 seed angels FinSMEs NL + IT
Part-up 650,000 seed angels undisclosed StartupJuncture NL
Bleeve 600,000 seed Stichting DOEN e.a. StartupJuncture NL
Otrium 600,000 seed VC Keadyn + others StartupJuncture NL
Media Distillery 600,000 seed VC + CEO Peak Capital + Vortex Capital Partners + Roland Sars StartupJuncture NL
PlotProjects 585,000 convertible notes crowdfunders Leapfunder Leapfunder NL
ParkFlyRent undisclosed VC + buy in Dasym + Jochem de Boer StartupJuncture NL
Jellow 500,000 seed gov + angels NOM StartupJuncture NL
Magnetic.io 500,000 seed VC Volta Ventures StartupJuncture BE
Lone Rooftop 500,000 seed VC + co-founder Mamadoo Ventures + Reinoud Elhort StartupJuncture NL
Symbid 490,000 convertible loan
SocialAudience undisclosed seed VC Axivate Capital StartupJuncture NL
Yubu 300,000 seed corporate + angel Kickstart Venlo Vectrix NL
Cohere 300,000 seed VC + corporate + angel undisclosed StartupJuncture NL
Speedcomfort 272,000 convertible notes crowdfunders OnePlanetCrowd OnePlanetCrowd NL
Bardoggy undisclosed angel Nick Stals StartupJuncture NL
Tabster 227,000 convertible notes crowdfunders Leapfunder Leapfunder NL
Iristrace 200,000 venture VC Bbooster Ventures Dealroom ES
Superbuddy 157,500 convertible notes crowdfunders Leapfunder Leapfunder NL
Senfal undisclosed seed corporate Anode Energie StartupJuncture NL
Grwo 100,000 seed corporate Microsoft StartupJuncture US
PickThisUp undisclosed seed angels undisclosed StartupJuncture NL
Daalder 50,000 convertible notes crowdfunders Leapfunder Leapfunder NL
Geophy undisclosed VC INKEF Capital INKEF (pdf) NL

Important notes

As always: a little disclaimer for the creation of this funding report.

The goal of the list is to give an overview of investments into startups. We do not include pre-sales crowdfunding (like on Kickstarter), only convertible note or equity crowdfunding. We typically also don’t count grants and subsidies. We don’t mention funding below 50.000 euro. Majority stakes or takeovers don’t count for our list.

When an investment size was undisclosed, our team made an educated guess. In several cases of undisclosed funding the exact amount is known by the editorial team. Out of respect for founders and investors we choose not to publish those numbers. They do however add up in the total amount of funding.

A startup should also have a Dutch connection: either the company must be based in The Netherlands or have Dutch founders.

For the definition of a startup: this is always arbitrary. The complete table should be helpful though for anyone who defines the term ‘startup’ differently. In the past we included big fish scale-ups like Adyen and Catawiki because they’re still growing fast (and are max ten years old).

We tried to use all available public data sources. We relied on communication directly to the StartupJuncture team, information from incubators and accelerators, other media, information from crowdfunding platforms (Symbid, Leapfunder and OnePlanetCrowd) and from Dealroom, Index.co, Crunchbase and Angellist.

Of course, we are aware we might have missed something. This funding report however gives you a good impression and is best used as an indication of the state of startup funding in The Netherlands. If there’s something missing, just give us a heads up in the comments or via team(at)startupjuncture.com.

Main image: Pixabay

Lorenz van Gool
Lorenz is co-editor-in-chief of StartupJuncture. As a freelance editor and journalist, he writes about startups, innovation and (e)-business. Loves to report from conferences. Really likes cleantech and journalism startups. You can ask him anything about dinosaurs. Twitter: @lorenzroman

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