Northzone closes new $335m fund for European FinTech

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fintech insurtech wealthtech regtech ai cybertech esg news

Northzone, a Scandinavian VC firm that has backed fintech startups including iZettle, MarketInvoice and Klarna, has raised €300m ($335m) for its new fund.

The firm also includes Spotify, Europe’s second-highest valued tech company at $8.5bn, among its portfolio.

Stockholm-based Northzone said it will continue to invest in early-stage opportunities around Europe with particular interest in the fintech space.

It said the fund, which is its largest to date, was oversubscribed.

The successful close of its eighth fund highlights that while there is speculation around the health of the global early-stage investment market, LPs are still confident in established firm’s ability to deliver in the long term.

It also said the Brexit vote will not impact its interest in the UK market and the firm now has three partners based in London.

Among Northzone’s recent exits are Wallapop and Soundrop, which where both acquired this year and Tobii, which went public in Stockholm last April.

Copyright © 2016 FINTECH GLOBAL

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