European crypto startups raised $5.7bn in 2022

According to a report by Dealroom and RockawayX, the European startups of the crypto have collected a total of 5.7 billion last year, more than in 2021.

Funding for crypto companies based in Europe reached 5.7 billion dollars in 20225 billion in 2021, according to a report by Dealroom and VC RockawayX shared with Coins.co.uk.

Global crypto VC investment by startup HQ – Dealroom x RockawayX

In contrast, U.S. crypto startups have raised less money in the past year. $17.1 billion in 2022 versus $17.7 billion in 2021.

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In Europe, funding rounds took place mainly at the Q2 and Q3 2022. In Q2, startups raised just over $2 billion.

Quarterly venture capital investment intoEuropean crypto startups

Quarterly venture capital investment into
European crypto startups – Dealroom x RockawayX

Crypto VCs remain focused on early rounds, because thatʼs where the loot was in the 2020-2021 bull market. “The decline in crypto startup funding this year (2023) is due to both fewer deals closing at lower valuations and lower amounts per round,” commented Samantha Bohbot, Chief Growth Officer at RockawayX, who notes that fundraisings used to be “quickly oversubscribed and frantically closed.

Among the European champions of crypto in 2022 in terms of financing, these include the British Copper, the Swiss Seba Bank and Sygnum and the French Kaiko and Coinhouse.

London remains the crypto hub in Europe, followed by the Swiss crypto valley hotspots of Zug & Zurich. Berlin and Paris compete for 3rd place.

Dealroom x RockawayX

London remains the crypto hub in Europe, followed by the Swiss crypto valley hot spots of Zug and Zurich. Berlin and Paris are vying for 3rd place,” the report said.

In 2022, the most popular segment for investment firms in the European crypto industry was the financial services (52%), including CeFi and DeFi (DEX and CEX) platforms, crypto-fiat ramps, custody solutions or crypto lenders.

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VC investment in crypto Financial Services 2022

Next are companies specializing in infrastructure (32%) that develop layer1layer2 or other infra blockchain then “Web3” startups working around the metaverse and NFT (16%).

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