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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?

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
Finom

Amsterdam, Noord-Holland, The Netherlands

Finom provides an online payment solution that integrates business accounts, invoicing, and accounting.

FinanceFinancial ServicesFinTechPayments
Series CJun 23, 2025
Amount Raised: $132,126,957
Bedrock Ocean Exploration

Brooklyn, New York, United States

Bedrock Ocean Exploration is a platform for underwater vehicles.

Marine TechnologyRoboticsService IndustrySoftware
Series AJun 10, 2025
Amount Raised: $25,000,000
Kota

Dublin, Dublin, Ireland

We make it extraordinarily easy to roll out and manage benefits globally.

AppsFinancial ServicesFinTechInsuranceInsurTechRetirement
Series AMay 22, 2025
Amount Raised: $14,500,000
Filed

London, England, United Kingdom

Filed renders digital marketing, social marketing, campaign optimization, retargeting, facebook advertising and social media services.

AdvertisingDigital MarketingSocial Media
SeedMay 21, 2025
Amount Raised: $17,200,000
Clarium

New York, New York, United States

Clarium AI software allows hospital departments to automate tasks, increase collaboration, streamline operations and enhance productivity.

Artificial Intelligence (AI)Health CareHospital
Series AMay 8, 2025
Amount Raised: $27,000,000
Fuse Financial Technologies

Dubai, Dubai, United Arab Emirates

Fuse builds financial infrastructure in the Middle East on MENA's first developer-focused banking stack.

FinanceFinancial ServicesFinTech
SeedApr 3, 2025
Amount Raised: $6,600,000
Dalma

Paris, Ile-de-France, France

Dalma is an insurance company that sells medical insurance services for pets.

Health InsuranceInsurancePet
Series BMar 17, 2025
Amount Raised: $21,759,802