Romanian Venture Report: the steady growth of the Romanian startup ecosystem

Compared to 2021 there is a slight decrease, but that year was influenced by the massive investment in Fintech OS that transformed the data. In 2021 the total volume was 116.9 million euros, but Fintech OS received then 51 million euro.

Read the key findings and download the Romanian Venture Report on How to Web website.

Excluding such investments that fall outside the usual margin, 2022 performed 68.5% better than 2021.

Romania ranks fourth in the region in terms of investments, after Croatia, Poland, Estonia and the Czech Republic.

Compared to 2021, the number of deals increased by 5%, reaching 74 rounds in 2022. In addition, there is a more homogeneous presence of all types of deals, from pre-seed to Series A.

2022 was a very good year for Series A deals, meaning those startups with an already solid presence and customers. Their volume tripled, reaching a value of 63 million euro in 2022, and their number reached 10 in 2022 compared to 3 in 2021.

The top three deals by value in 2022, Druid, Digitail and OutThink, account for 30% of the total 2022 funding volume.

Also, the individual volume of Series A financing increased by 23.4% in 2022, reaching an average of 6.29 million euro.

But while Series A deals, which show the maturity level of certain startups, were up, pre-seed deals, for early-stage companies, fell 13.2% to a total volume of 2,8 million euro.

The number of pre-seed rounds remained constant, from 20 in 2021 to 19 in 2022. And the average deal value fell by 8.6% to €149,000 in 2022.

And seed transactions fell by 4.3%, to a value of 45.3 million euros. But here an important mention that must be made. In 2021 FlowX received a seed round of 7 million euro, extremely large at a European level. This transaction has changed statistical data.

In fact, 2022 was a year that did not have transactions and rounds that were out of the ordinary, as was the investment of 51 million euro  received in 2021 by Fintech OS. The transactions were significant and more diverse.

Read the key findings and download the Romanian Venture Report on How to Web website.

49.3 million euro were raised by startups in 2022 in first round of funding, an increase of 109% compared to 2021.

2022 had no less than 44 first-time deals for startups. Thus, the rounds became larger, reaching an overall average of €1.1 million in 2022 compared to €673,000 in 2021.

The Romanian Venture Report statistics from How to Web also show that follow-on rounds, those that help startups grow after an initial investment, decreased by 35.7% in 2022, to a volume of 60 million euros, compared to 93.4 million euros in 2021. But this was also influenced by the investment in Fintech OS in 2021 which can be called an "outlier".

Follow the following material that analyzes the Romanian Venture Report to find out which are the star investments in 2022, as well as the areas of interest.