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Three-fold rise for Romanian venture capital in 2021, past the 100 ml euro mark

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Investments in Romanian startups have tripled in 2021, hitting 116.9-plus million euros, compared to 30.4 million euros in 2020, shows the Romanian Venture Report 2021 launched on Thursday by the How to Web conference initiative.

This figure is 13-fold the amount of 8.2 million euros reported in 2017.

According to the authors of the report, these figures place Romania on the general growth trend, given that the overall venture capital volume at European level surpassed 100 billion euros, also three times the figure of 2020.

Now at its second edition, Romanian Venture Report 2021 offers a comprehensive analysis and a collection of statistics on investments in Romanian startups in 2021.

The document tracks 71 transactions that add up to more than 116.9 million euros, including the 51 million euro Series B round raised by the local fintech startup FintechOS.

The average size of first investment rounds has increased by over 80 percent from 357,000 euros in 2020 to 647,000 euros in 2021, with pre-seed deals (below 200,000 euros) going up 33 percent and seed deals (between 200,000 euros - 3 million euros) advancing 70 percent.

55 percent of follow-on transactions (investments after the first round) were made at the seed stage, most of them with Romanian capital, totaling 36.2 million euros, which accounts for 31 percent of the total amount recorded in 2021 (including the FintechOS round of funding).

The report identifies 18 deals of more than 1 million euros each, which account for 68 percent of the total value of 2021 startup investments.

"Comparing the market dynamics in 2021 with our data, we were delighted to see that investments in Romanian startups have exceeded the 100 million euro mark, which translates into a 3-fold increase from the previous year. This comes just a few years after local startup UiPath reached unicorn status, and in a year when another fast-growing local startup, FintechOS, achieved a round of Series B financing. The progress of the local ecosystem can no longer be overlooked, and what is even more interesting is that the growth trend has continued in recent years. As it seems, the Romanian venture capital market is at the beginning of what looks like a rocket ship ride and there are still seats in the front row," said How to Web CEO Alexandru Agatinei.

How to Web is an entrepreneurship and innovation conference initiative dedicated to startups in Eastern Europe, which has supported regional entrepreneurship and technology innovation over the past decade and accelerated the adoption of startup culture through top events, programs and content, Agerpres informs.

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