Market Insights

Zoom Zoom Zoom: Friday Dealbook for 4/3/2020

This week was marked by both investments and acquisitions, as challenger bank Tink acquired Eurobits Technologies and Signicat acquired Connectis. Meanwhile, Collibra raised a whopping $112.5 million of venture funding for its data governance platform.

In this brave new world, remote tools have become top of mind, but not necessarily for the right reasons. Notably, Zoom is having a rollercoaster of a week as it deals with a huge influx of users, some fairly critical security and privacy vulnerabilities, and a class-action lawsuit. However, not all is doom and gloom! Online identity verification is having a ball, as are eSignatures providers (even the IRS is hopping on board). Last week, I mentioned that COVID-19 may have a dampening effect on venture capital funding – what segments do you think will capitalize on the situation and succeed regardless?

 

The Top Deals Covered by OWI this Week

 

Eurobits Technologies \ eurobits.com \ Founded in 2004

Based in Madrid, Spain, the company develops software to provide collated data of the user which can be financial, non-financial and public administration records.

The company reached a definitive agreement to be acquired by Tink Sweden for EUR 15.5 million on March 27, 2020. The acquisition will help Tink to continue its expansion across Europe and strengthen its bank connectivity coverage and its market position in Southern Europe.

 

Connectis \ connectis.com \ Founded in 2007

Operator of a secure login platform designed to provide safe online login and transactions. The company’s platform ensures secure access to public broadband services, safe exchange of confidential information, maintain privacy, security and fraud-detection, enabling customers to make safe and secured internet access.

The company was acquired by Signicat for an undisclosed amount on April 2, 2020. The acquisition will allow Signicat to develop further into the sectors in which Connectis has a presence, particularly in the government and healthcare sectors.

 

Collibra \ collibra.com \ Founded in 2008

Provider of a cross-organizational data governance platform designed to deliver openness and freedom. The company’s platform breaks down traditional data silos and opens up organizational data, provides trustworthy business intelligence, enabling users to find the data they need, collaborate on it and easily understand its meaning.

The company raised $112.5 million of venture funding in a deal led by Index Ventures and ICONIQ Capital on April 2, 2020, putting the company’s pre-money valuation at $2.25 billion. CapitalG, Durable Capital Partners, Dawn Capital, and Battery Ventures also participated in the round. The funds will be used to expand the company’s business reach.

 

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Investor Highlight

 

Dawn Capital \ dawncapital.com \ Founded in 2007

Founded in 2007, Dawn Capital is a venture capital firm based in London, United Kingdom. The firm seeks to make early-stage minority investments in firms. The firm prefers to invest in the technology, telecommunication, media, mobile, fintech, and software service sectors in Europe.

Active Portfolio – 29

Investments (TTM) – 19

Med. Round Amount – $15.00M 

Med. Valuation – $85.00M

Exits – 21

 

Deal History

In the past year, Dawn Capital has invested in the following 6 identity companies:

Collibra

New Vector

Onna

ReachFive

Soldo

Tink

 

*Source: PitchBook Data Inc. with proprietary keyword searches set by OWI Analysts