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Northzone

Europe, England, United Kingdom, London

Description

Northzone is a prominent multi-stage venture capital firm with a long-standing presence in the European and North American tech ecosystems. Established in 1996, the firm has built a reputation for backing disruptive technology companies from their early stages through to global leadership. With offices strategically located in London, Stockholm, New York, Berlin, and Oslo, Northzone maintains a strong international footprint, enabling it to source and support ambitious founders across diverse markets.

The firm's investment thesis centers on identifying visionary entrepreneurs who are building category-defining businesses with significant market potential. Northzone is sector-agnostic but has a strong track record in areas such as fintech, healthtech, SaaS, consumer internet, marketplaces, and deep tech. They are known for their hands-on approach, providing strategic guidance and operational support to help portfolio companies navigate growth challenges and scale effectively.

Northzone demonstrates substantial capital deployment capacity, evidenced by the closing of its latest fund, Northzone XI, at an impressive €1 billion in 2022. This significant capital pool allows them to make substantial initial investments and provide follow-on funding across multiple rounds, supporting companies throughout their lifecycle. Their commitment to long-term partnerships is a cornerstone of their investment philosophy.

Over its decades of operation, Northzone has cultivated a robust portfolio of successful companies, many of which have achieved unicorn status or significant exits. Notable investments include global brands like Spotify, the music streaming giant; Klarna, a leading fintech innovator; Trustpilot, a prominent review platform; and Personio, a rapidly growing HR software provider. These successes underscore Northzone's ability to identify and nurture companies that fundamentally change industries and achieve global scale.

Investor Profile

Northzone has backed more than 321 startups, with 23 new investments in the last 12 months alone. The firm has led 134 rounds, about 42% of its total and boasts 47 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series A, Series B, Seed rounds (top funding stages).
  • Majority of deals are located in United States, Sweden, United Kingdom.
  • Strong thematic focus on Software, FinTech, Financial Services.
  • Led 12 rounds in the past year.
  • Typical check size: $1M – $20M.

Stage Focus

  • Series A (30%)
  • Series B (20%)
  • Seed (16%)
  • Series Unknown (13%)
  • Series C (9%)
  • Series D (3%)
  • Series E (2%)
  • Pre Seed (2%)
  • Secondary Market (1%)
  • Private Equity (1%)

Country Focus

  • United States (23%)
  • Sweden (21%)
  • United Kingdom (19%)
  • Germany (11%)
  • Norway (8%)
  • Denmark (5%)
  • Spain (3%)
  • France (3%)
  • The Netherlands (2%)
  • Finland (2%)

Industry Focus

  • Software
  • Fintech
  • Financial Services
  • E-commerce
  • Information Technology
  • Artificial Intelligence (Ai)
  • Finance
  • Apps
  • Mobile
  • Saas
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Northzone frequently co-invest with?

Seedcamp
Europe, England, United Kingdom, London
Co-Investments: 12
General Catalyst
North America, Massachusetts, United States, Cambridge
Co-Investments: 9
Creandum
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 18
GP Bullhound
Europe, England, United Kingdom, London
Co-Investments: 11
Index Ventures
North America, California, United States, San Francisco
Co-Investments: 18
Headline
North America, California, United States, San Francisco
Co-Investments: 10
Global Founders Capital
Europe, Berlin, Germany, Berlin
Co-Investments: 14
Accel
North America, California, United States, Palo Alto
Co-Investments: 19
Cherry Ventures
Europe, Berlin, Germany, Berlin
Co-Investments: 11
Balderton Capital
Europe, England, United Kingdom, London
Co-Investments: 10

Which angels does Northzone often collaborate with?

RG
North America, California, United States, San Francisco
Shared Deals: 2
GP
Europe, England, United Kingdom, London
Shared Deals: 2
OT
Europe, England, United Kingdom, London
Shared Deals: 3
MR
Europe, England, United Kingdom, London
Shared Deals: 4
AB
North America, California, United States, San Francisco
Shared Deals: 2
SR
Europe, England, United Kingdom, London
Shared Deals: 3
RF
Europe, England, United Kingdom, London
Shared Deals: 3
NR
North America, California, United States, San Francisco
Shared Deals: 2
David Clarke
North America, California, United States, San Francisco
Shared Deals: 2
DH
Europe, Gullbringusysla, Iceland, Reykjavík
Shared Deals: 3

What are some of recent deals done by Northzone?

Riff

Oslo, Oslo, Norway

Riff is the first business-ready app builder for teams to create real AI apps that connect to data and get work done.

Artificial Intelligence (AI)DatabaseSoftware
Series AOct 23, 2025
Amount Raised: $16,235,366
Katana

Tallinn, Harjumaa, Estonia

Katana is a cloud inventory platform for SMBs

Enterprise Resource Planning (ERP)ManufacturingSoftware
Series BOct 2, 2025
Amount Raised: $16,414,547
Defacto

Paris, Ile-de-France, France

Defacto is a fintech firm that offers short term financing for small and medium companies via an embedded, API-first approach.

B2BCreditEmbedded SystemsFinTechPayments
Series UnknownSep 17, 2025
Amount Raised: $18,971,665
CuspAI

Cambridge, Cambridgeshire, United Kingdom

CuspAI is an AI company that discovers new materials to solve problems and enable human progress.

Artificial Intelligence (AI)ChemicalInformation Technology
Series ASep 10, 2025
Amount Raised: $100,000,000
Predoc

New York, New York, United States

Predoc provides an AI-native platform for medical record retrieval and analysis and health information management.

AnalyticsElectronic Health Record (EHR)Health CareMedical
SeedSep 2, 2025
Amount Raised: $6,300,000
Predoc

New York, New York, United States

Predoc provides an AI-native platform for medical record retrieval and analysis and health information management.

AnalyticsElectronic Health Record (EHR)Health CareMedical
Series ASep 2, 2025
Amount Raised: $30,000,000
Topline Pro

New York, New York, United States

Topline Pro is a generative AI platform enabling home services professionals to manage and scale their businesses online.

Artificial Intelligence (AI)Generative AIInternetMobile AppsSoftware
Series BAug 14, 2025
Amount Raised: $27,000,000
Murphy AI

Barcelona, Catalonia, Spain

Murphy uses artificial intelligence to automate debt collection and replace human workers in corporate enterprises.

Debt CollectionsFinancial Services
SeedJul 14, 2025
Amount Raised: $13,000,000
CarOnSale

Berlin, Berlin, Germany

Operator of B2B auction platform intended to digitize the lease-return and trade-in of cars.

AutomotiveCustomer ServiceWholesale
Series CJul 7, 2025
Amount Raised: $82,353,426
Tandem Health

Stockholm, Stockholms Lan, Sweden

Tandem Health provides an AI-based medical scribe that generates clinical notes from consultations.

Artificial Intelligence (AI)Health CareOffice AdministrationSoftware
Series AJun 30, 2025
Amount Raised: $50,035,236