London fintech Abound has secured £250m financing from Deutsche Bank, boosting its total lending capacity to £1.6 billion. This funding will help scale operations, enhance financial inclusion, and modernize lending. Abound's AI-driven platform, Render, uses Open Banking data to assess borrowers' financial situations, reducing default rates and offering lower rates. CEO Gerald Chappell highlights the global potential of their technology. Abound became profitable in April 2024, three years post-launch.

Recognized as one of the most dynamic and innovative ecosystems globally, the UK is home to a thriving network of startups, scale-ups, and established tech giants. With strong infrastructure, access to venture capital, and a highly skilled workforce, the UK remains a global leader in sectors like fintech, artificial intelligence, and digital health. In 2024, the UK maintained its leading position, raising €17.5 billion (23.6% of total investments) across more than 861 deals. While the country retained its position from the previous year, the total amount raised was approximately 30% lower than in 2023, when UK companies raised €24.7 billion. Nevertheless, the ecosystem faces challenges, such as a shortage of tech talent due to competition with global markets, high operating costs, and uncertainties around post-Brexit regulatory frameworks. Despite these obstacles, the UK’s tech sector remains resilient, continuing to attract significant investment and foster innovation

In 2024, European tech companies secured more than €74.4 billion across over 3,700 deals. When compared to a year before, this figure is higher by approximately 10 percent (€67.6 billion secured in 2023). This indicates a positive shift in investor sentiment or market conditions for European tech. Despite this increase, the 2024 total remains about 30 per cent below the peak of €101.2 billion in 2022.Although many of the largest deals in 2024 focused on debt financing for the construction of gigafactories (e.g., Northvolt, Stegra, ACC), others were directed towards R&D and seizing global growth opportunities.For a more comprehensive review of topics including investments, geographic region performance, industry performance, top M&A and exit activities, and much more, check out Tech.eu’s annual report “European tech 2024: The big picture”.Now let’s have a look at the 24 European tech companies that raised the most in 2024.24. Poolside (France)Amount raised in 2024: $400 millionPoolside.ai is a company focused on developing advanced AI models for software engineering. It offers a customizable AI solution that integrates directly with your codebases and business practices, fine-tuning to create proprietary models that continuously improve developer productivity.The company's foundation models, such as Malibu, and tools like code completion engines, are designed to accelerate software development securely and privately, ideal for regulated industries.In 2024, the company secured $400 million which will be used to accelerate the company's growth, improve its technology and expand its marketing activities.23