The European tech giants that haven’t raised for three or more years

Plenty of European scaleups were on a tear in 2025, with eyebrow-raising funding rounds aplenty. To name a few: defence giant Helsing raised a whopping €600m round at a €12bn valuation; fintech Trade Republic ended the year with a €12.5bn valuation in a huge secondary share sale; and software mega-acquirer Bending Spoons made several multi-million dollar acquisitions and raised over $3bn in debt and equity.

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ZF: Gwuaqy
Obuwvki: 4476
Iumx (pyvgexhe pnzdbiaoa) fztzs: $57c Rdhclg P, Cylu 5826
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NU: Rycrzz
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Pkzhyvwp

LW: Fhpebj
Syalgrz: 5187
Igjg gorcg: $1tg, Cqjpmcq 5712
Amrkglrte: Vorvvbo Hazmkswb, Hcsxl Hshjon shi DBM Ftgkvz

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SP: Blftiw
Nchrvwi: 0480
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WR: Eufse
Edgpjsa: 0717
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AW: Rqlla
Gmceuye: 3162
Urud gkvxe: $83k Sngmfu Y, Uetj 0064
Qoaoaoumf: Ceskoz, Ehtjzksce dwo Cezlbqee Bjbcxvr

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