Each month, Beauhurst issues a briefing on the most interesting deals into high-growth companies from the previous month; in this case, July 2017. The UK startup deals are covered by various news publications and subsequently published here.
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Number of deals: 119 (-22 on previous month)
Total raised: £782m (-184)
Average deal amount: £7.31m (-0.23)
It is perhaps unsurprising that we have seen a slight slowdown in deals over July: the annual August fall has traditionally been prefaced by a stagnant or slightly poor July. As with every industry, summer holidays have an effect. Nonetheless, this fall has been steeper than in any previous year:
Hyperoptic operates a fibreoptic broadband network, preferring ‘full fibre’ cabling to the fibre-and-copper mixture preferred by other providers.
Deal date: 30th July 2017
Deal amount: £100m
Investors: ING Corporate Investments, NIBC Bank, BNP Paribas, and RBS
Notes: This is by far the largest deal yet secured by Hyperoptic, and takes its total raised to £155m over five fundraisings.
Darktrace is a cybersecurity firm founded in Cambridge, and whose main focus is software that identifies behavioural anomalies in humans in order to detect security threats.
One of the UK’s leading challenger banks, Revolut’s original product (still in use) was allowing users to hold cash in multiple currencies.
5. Receipt Bank
Receipt Bank has developed accounting software that allows users to save and edit scanned invoices, bills, and receipts, which can then be shared with accountants or other parties.