Berlin and Munich are among the cities with the most start-up deals

According to a study, Germany is also developing well as a business location. Five of the ten biggest deals last year went to German startups.

Across Europe, 88.1 billion euros flowed into startups last year. Much of the money ended up in Berlin and Munich: In the top 10 ranking of the most completed financing rounds in the Start-up Barometer of the audit and consulting firm EY, the German capital takes second place, closely followed by Paris. Only in London were more financing rounds completed. Munich achieved seventh place.

Berlin also ranks second in terms of financing volume: Startups from the capital received a total of 10.5 billion euros last year. This represents an increase of 243 percent in just one year. Munich start-ups took in a total of four billion euros. This makes the Bavarian capital the city with the fourth-largest total funding volume in Europe.

Germany as a location as a whole also does well in the EY study. Only the British market is even stronger. "Even though London still leads the way due to its long history as a major financial center, the momentum clearly favors Germany," says EY partner Thomas Prüver. In this country, startups closed five of the ten largest deals last year. The fast delivery service Gorillas lands in fourth place in the ranking of top deals with a financing round of €861 million. Software start-up Celonis, neobank N26, neobroker Trade Republic and charging station operator Ionity also make it into the top 10 deals.