Italia gets its very first Unicorn 🇮🇹
Weekly press review in Tech - 28st February 2022 - Issue #38
I’m Sebastien co-founder and CEO of Early Metrics. TechWatchbySeb is a monthly newsletter to provide Tech Investors, Entrepreneurs & Innovators insights to evaluate any Innovative & Growing company.
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🥇Italia gets its very first Unicorn 🇮🇹
It's been a long time coming, but Italy now has its first unicorn in Scalapay as the buy-now-pay-later company raises $497 million in a Series B round.
Scalapay founded in 2019, is a credit payment method that allows users to purchase and pay it in three instalments of the same amount without interest.
The company has raised a total of $700M in capital with some of the most prestigious investors such as Tiger Capital or Tencent. Which make the company valued above $1Bn.
Source: Tech.eu
🥈Major Tech consolidation
3 weeks ago, was also an important momentum for Tech M&A with 7 operations released the same week.
This week, was also intense in terms of consolidation, but what caught my attention, was the size of the deals.
Carvana 🇺🇸, the online used car marketplace, has agreed to buy Kar Global’s Adesa U.S. 🇺🇸 auction subsidiary for $2.2 billion in cash
Another but the smaller deal is from the AI-driven cyber security platform Darktrace 🇬🇧 is acquiring the Cybersprint 🇳🇱 for €47.5 million ($53.7 million).
And last but not least, this operations didn’t go through the end, but interesting to point out: Zendesk 🇺🇸 terminates $4.1B SurveyMonkey 🇺🇸 acquisition after its own investors reject deal.
Sources:
Carvana: The Wall Street Journal
Darktrace: Tech.eu
Zendesk: Techcrunch
🥉Insight Partners closes their twelfth flagship fund with $90Bn
Insight Partners, today announced the final closing of its twelfth flagship fund, Fund XII, with a total of $20 billion in capital commitments that will be used to invest in global high-growth technology, software, and Internet businesses. The new fund brings the total of regulatory assets under Insight’s management to over $90 billion.
Generally, Insight’s flagship funds typically invest between $5 million and $500 million in a company, with the ability to invest from the earliest institutional check to IPO
Source: Geektime
Last but not least
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👍 That’s it for this week, wishing you a great week ahead, and feel free to share if you like 😁