Lisbon attracts VC money

A record €122m has already been injected into the startup scene in Lisbon, Portugal.

This compares with €34m in 2018. Some €102m was raised locally.

The figures come from a Dealroom report which also states Lisbo-based startups are now worth €2.1 billion, three times higher than five years ago. What’s more, the Portuguese capital accounts for 49% of the value of the startup ecosystem in the country.

Dealroom said: “National investors are prepared to support their ecosystems and foreign investors are increasingly looking at the city and getting involved as well.”

Pre-seed and seed investment rounds make up the majority of the investments (94%).

The money went to gaming (€85 million), marketing (€63 million) and fintech (€59 million) sectors.