I mentioned last year* we weren't seeing mega rounds in European VC but that they did seem to be getting bigger.
From EU Startups:
Paris-based sustainable fashion company Vestiaire Collective achieves unicorn status with a new €178 million round
Today Vestiaire Collective, a second-hand fashion scaleup, announces the completion of a new €178 million financing round and its new unicorn status, backed by global French luxury group Kering (KER.PA) and US investment firm Tiger Global Management. Existing shareholders also re-invested in this round, including Vestiaire Collective’s CEO, Max Bittner, Bpifrance (Large Venture), Condé Nast, the Eurazeo Group (Eurazeo Growth and Idinvest Venture) (RF.PA), certain funds managed by Fidelity International, Korelya Capital (backed by NAVER) (KRX: 035420), Luxury Tech Fund (LTF & Cuir Invest) and Vitruvian Partners.
The pre-owned fashion sector has experienced rapid growth over the last three years with a further acceleration during the pandemic. This has been predominantly driven by younger consumers’ increased focus on sustainability and a growing trend for social shopping and online communities. The scaleup states that the amount of secondhand pieces in people’s closets is predicted to grow from 21% in 2021 to 27% in 2023 with the value of the secondhand sector forecasted to be worth over $60 billion by 2025....
....MUCH MORE
*e.g.
Venture Capital: "Paris-based Lydia lands €70 million Series B extension to expand its mobile financial app across Europe"
For European VC this is a pretty hefty B round....
Two quick points:
1) Used vehicles seem to be a good business now and for the foreseeable future as the middle-class disappears.
2) These European equity rounds are getting bigger, we've seen at least a half-dozen mid-eight to nine figure fund-raisings in just the last month.
