BUCHAREST (Romania), January 27 (SeeNews) - The value of the Romanian venture capital market reached 116.9 million euro ($132 million) in 2021, compared to 30.4 million euro in the previous year, startup events organiser How to Web said on Thursday.
The biggest investment of last year was FintechOS 51 million euro Series B round, which made the Bucharest-based fintech startup reach a valuation of $220 million, according to the Romanian Venture Report 2021 by How to Web.
Similar to the international venture capital market dynamics, the average size of the first investment rounds has also grown on the
Romanian market by 88.8%, from 357,000 euro in 2020 to 647,000 euro in 2021.
In 2021, the analysis tracked 18 rounds with over 1 million euro in funding each, totalling 68% of all transaction volume, with an even Romanian and international capital split.
”When comparing 2021’s market dynamics with our historical data we were stoked to see that the venture capital deals hit this milestone of more than 100 million euro in volume and that this translates into a 3x growth from the previous year," How to Web CEO Alexandru Agatinei said. "This achievement came after just a couple of years from the moment when Bucharest-born UiPath reached unicorn status and in a year when another diamond in the rough, Bucharest-based fintech startup FintechOS, reeled in their Series B round."
Started as a startup conference, How to Web aims to accelerate the adoption of the startup culture through events such as How to Web Conference, Launch - founders community, HTW Institute and VC in CEE.