European e-commerce is booming, with the most valued startups in 2023 showcasing the continent's dynamic market. Back market, a French marketplace, was the most valuable e-commerce and direct-to-consumer unicorn in Europe as of December 2023. The platform for refurbished consumer electronics was worth 5.7 billion U.S. dollars. Two other startups completed the podium: RELEX and Vinted, estimated at 5.7 billion and 4.5 billion dollars, respectively.
Two countries provide the most successful startups
France and Germany stand out as hotbeds for e-commerce funding in Europe. Ankorstore, a French wholesale marketplace, secured a substantial funding of 423 million U.S. dollars, showcasing France's prowess in the e-commerce landscape. Meanwhile, Germany takes the lead in hosting emerging B2B e-commerce companies.
Investment climate in Germany
The investment landscape in European startups has witnessed notable shifts. While energy startups in Germany saw a substantial influx of investment, the overall funding into startups decreased compared to the previous year. Software and analytics startups received the highest investments, signaling a shift towards technology-centric ventures. This data reflects the evolving investor sentiment and the changing trends in the types of startups that are attracting significant capital in Europe.
Most valued e-commerce and direct-to-consumer unicorns in Europe as of December 2023
(in billion U.S. dollars)
A unicorn company is a privately owned startup that has a current valuation of one billion U.S. dollars or over. Once a company has gone public (IPO) or has been acquired it is no longer termed as a unicorn.
Where companies crossed industries, the major category was used as determined by the source. Where companies have multiple countries listed the country of headquarters has been used.
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CB Insights. (January 31, 2024). Most valued e-commerce and direct-to-consumer unicorns in Europe as of December 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 30, 2024, from https://www.statista.com/statistics/1282106/highest-valued-e-commerce-startup-companies-europe/
CB Insights. "Most valued e-commerce and direct-to-consumer unicorns in Europe as of December 2023 (in billion U.S. dollars)." Chart. January 31, 2024. Statista. Accessed December 30, 2024. https://www.statista.com/statistics/1282106/highest-valued-e-commerce-startup-companies-europe/
CB Insights. (2024). Most valued e-commerce and direct-to-consumer unicorns in Europe as of December 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 30, 2024. https://www.statista.com/statistics/1282106/highest-valued-e-commerce-startup-companies-europe/
CB Insights. "Most Valued E-commerce and Direct-to-consumer Unicorns in Europe as of December 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 31 Jan 2024, https://www.statista.com/statistics/1282106/highest-valued-e-commerce-startup-companies-europe/
CB Insights, Most valued e-commerce and direct-to-consumer unicorns in Europe as of December 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1282106/highest-valued-e-commerce-startup-companies-europe/ (last visited December 30, 2024)
Most valued e-commerce and direct-to-consumer unicorns in Europe as of December 2023 (in billion U.S. dollars) [Graph], CB Insights, January 31, 2024. [Online]. Available: https://www.statista.com/statistics/1282106/highest-valued-e-commerce-startup-companies-europe/
