Venture Capital/Analysis/ Here’s where Peter Thiel is investing in Europe After previously dismissing European tech, Thiel's now backed 43 companies By Freya Pratty 15 December 2020 \Venture Capital Hoxton Ventures to add a new partner in April By Amy Lewin 17 February 2023 Venture Capital/Analysis/ Here’s where Peter Thiel is investing in Europe After previously dismissing European tech, Thiel's now backed 43 companies By Freya Pratty 15 December 2020 Back in 2018, Peter Thiel said he thought there were “no successful tech companies in Europe.” Two years before he had called the continent a “slacker with low expectations.” But today Thiel is investing furiously in European tech startups, pushing money into the continent’s fintech companies in particular. Thiel, who cofounded Paypal and analytics firm Palantir, is a partner in four VC firms — Founders Fund, Valar Ventures, Mithril Capital Management and Thiel Capital. Together, the firms, combined with several angel investments, mean Thiel has now backed 43 European companies to date, according to data from Dealroom. And in a further sign that Thiel’s changed his opinion of the European tech scene, it was disclosed in early December that Founders Fund has entered into a partnership with investment firm Elevat3, located in Germany. It’s Germany and the UK which have received the most investment from Thiel. In Germany, 13 companies have received backing, including Berlin-based fintech N26 Group, now valued at $3.2bn, which Valar Ventures has backed in three rounds, including its $300m Series D round this year. Another German unicorn, Deposit Solutions, a fintech specialising in retail deposits, has also been backed by Thiel. 👉 Read: Peter Thiel backs Mondu in $43m Series A In the UK, Thiel’s also backed 13 companies, including Transferwise, which Valar backed in its Series B, C and D rounds, and which is now worth an estimated $4.5bn. Companies in Austria, Belgium, Denmark, France, Ireland, the Netherlands, Norway, Spain and Sweden have also received investment. In Sweden, one of Thiel’s notable investments includes music streaming platform Spotify. Fintech As well as Transferwise and N26, other European fintechs continue to attract Thiel’s investment, and it’s steadily become the focus area for his investments in the continent. Danish fintech and financial media company Samlino has received Thiel’s backing, as have insurance companies like Coya, based in Berlin and Brolly based in the UK. He’s also backed Taxfix, a tax returns service for expats, and French fintech Qonto which provides small businesses with banking services. Thiel also invested in Monedo, previously known as Kreditech, which was once the largest German fintech in the industry, before it filed for bankruptcy in September this year. Psychedelic investments Another emerging trend in Thiel’s portfolio is psychedelics. In November, he invested in ATAI Life Sciences, a German biotech firm which is developing a range of drugs for mental health treatment, including ketamine, MDMA and psilocybin — the psychoactive ingredient in magic mushrooms. Earlier in 2020, Thiel also invested in Compass Pathways, one of ATAI’s companies, which has developed a synthetic version of psilocybin (the active ingredient in magic mushrooms) to be used to treat mental health conditions. The full list* Austria Bitpanda – a Vienna-based startup that specialises in buying and selling cryptocurrencies Adverity – a marketing analytics and data platform Belgium Topcompare.be – a tool to compare credit cards and loans Denmark Samlino – a Copenhagen-based company that provides financial services and news on finance, telecommunications, banking and insurance France Qonto – a French fintech which provides online banking services to small businesses Luko – a Paris-based startup developing devices that improve home safety and aim to reduce electricity bills Ingenic – an online learning platform that helps teachers give individual feedback to their students Germany N26 Group – a German fintech, now valued at $3.2bn Taxfix – offering tax return services for expats working abroad Coya – a Berlin-based insurance startup EyeEm – a startup providing curated images and photoshoots Trade Republic – a mobile-only broker ResearchGate – social network for scientists offering tools for collaboration Eating with the chefs – Berlin-based delivery service for meal ingredients to be prepared at home StudiVZ – a social networking service for students ATAI Life Sciences – a German biotech firm which is developing a range of drugs to treat mental health Deposit Solutions – a fintech specialising in retail deposits Cluno – a car subscription service based in Munich Nextmarkets – a Cologne-based data analytics platform for investing MagForce – a company that develops medical devices that generate magnetic hyperthermia Ireland Manna Drone – a Dublin-based startup offering drone delivery for dark kitchens and restaurant chains Teckro – a life science tech company which provides software for clinical trials The Netherlands Terminal – cloud based computing software OLX – an online classifieds platform, based in Hoofddorp in the Netherlands The Ocean Cleanup – a Rotterdam-based company developing solutions to collect plastic from the ocean Norway Tibber – an app to reduce energy costs and make homes smarter Scrimba – a teaching and learning platform Spain Belvo – Barcelona-based open banking platform Prose Securities – a cyber security startup based in Madrid Sweden Spotify – the streaming service, with an HQ in Stockholm, is now worth an estimated $46bn The UK Daisie – Brighton-based platform where creatives can network and collaborate on projects Brolly – a digital contents insurer that was acquired by Direct Line earlier this year Kalo – a platform for onboarding and paying external workers Transferwise – Valar backed the company in its Series B, C and D rounds, and it’s now worth an estimated $4.5bn DoNotPay – a consumer-focused AI lawyer helping individuals resolve small claims cases. Its founder, Joshua Bowder, is featured in our Gen Z founders list. Compass Pathways – a biotech startup developing a synthetic version of psilocybin to be used to treat mental health conditions Teller – an API for bank accounts Shipamax – shipping software that turns supply chain documents into data ROLI – a startup developing new musical instruments DeepMind – a London-based artificial intelligence company – Thiel’s Founders Fund owns more shares than the startup’s three cofounders Compare Europe Group – a financial comparison platform with an HQ in London Partnerize – online marketing technology startup based in Newcastle SilverRail – a rail travel information company * According to Dealroom’s data on the investments of Founders Fund, Thiel Capital, Valar Ventures, Mithril Capital Management and Peter Thiel into European companies. Freya Pratty covers news at Sifted. She tweets from @FPratty Related Articles Peter Thiel backs psychedelic drug developer Atai in $125m raise By Freya Pratty Click here to read more German fintech backed by Peter Thiel taken down by coronavirus By Freya Pratty Click here to read more The Scot who helped turn Peter Thiel-backed startup Xero into a €7bn business By Sam Shead Click here to read more Most Read 1 \Healthtech Is Daniel Ek’s new body scanner worth the hype? Sifted tried it out 2 \Venture Capital VC diversity needs to change — and white men need to take responsibility 3 \Venture Capital New €3.75bn European Investment Fund pot to back late-stage VCs 4 \Sustainability Counteract closes £15m fund for carbon removal solutions 5 \Mobility Was the $5bn that VCs plugged into escooters worth it?