Multiples.vc

Public comps, M&A multiples and VC valuation at your fingertips.

[Multiples.vc @multiples_vc]

AI-driven defense firm @HelsingAI is the Europe's highest-valued private AI company.

$18B valuation puts it well ahead of @MistralAI, the closest thing Europe has to an @OpenAI.

[Multiples.vc @multiples_vc]

After a massive $1.8B series E last week, German defense tech company @HelsingAI became Europe's second most valuable private company

[Multiples.vc @multiples_vc]

You can now access Multiples without leaving Claude.

1. Install Multiples MCP from Claude connectors directory

2. Try queries like "median SaaS public NTM multiples," or "biggest VC rounds in Europe this year", to get structured, sourced answers back instantly.

Available for Pro Max users.

[Multiples.vc @multiples_vc]

@matteobonomelli @oost_marcel @satispay @ScalapayEU Nobody says they are "startups". Unicorn definition varies and can also include publicly traded/acquired tech companies.

[Marcel van Oost @oost_marcel]

🇮🇹 Italy now has 13 unicorns 🔥

4 of them are FinTechs. Here's the full list:

• Nexi Group: $4.7B
• Moltiply Group: $1.6B
• @satispay : $1.3B - Now raising €120M (https://t.co/EWethHdsK3)
• @ScalapayEU : $1.0B

Nearly a third of Italy's entire unicorn club is a FinTech.

Who's the next Italian FinTech unicorn? Let me know in the comments 👇️

Source: https://t.co/NrPJKolnVG

Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ]
Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁]
Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]

[Multiples.vc @multiples_vc]

Latin America absolutely dominates neobanking!

cc @oost_marcel 👀

[Multiples.vc @multiples_vc]

Another day, another change on the most valuable private AI companies list.

@AnthropicAI, welcome to the top spot

[Multiples.vc @multiples_vc]

Ten most valuable companies in Brazil:

1 — Petrobras — $115B
2 — Itaú Unibanco — $87B
3 — Vale — $70B
4 — Nubank — $64B
5 — Ambev — $50B
6 — BTG Pactual — $38B
7 — WEG — $37B
8 — Banco Bradesco
9 — Itaúsa — $29B
10 — AXIA Energia — $24B

[Multiples.vc @multiples_vc]

Anthropic grew its valuation 320x over last four years

[Multiples.vc @multiples_vc]

Only two 2 out of 10 Europe's largest companies are tech firms - @ASMLcompany and @Arm.

Europe's mega-caps are built almost entirely on physical assets and regulated industries: lithography equipment, drugs, banking, luxury, food, industrial automation, oil.

1 🇳🇱 ASML ($623B)
2🇨🇭 Roche ($330B)
3 🇬🇧 Arm ($322B)
4 🇬🇧 HSBC ($320B)
5 🇬🇧 AstraZeneca ($291B)
6 🇨🇭 Novartis ($291B)
7 🇫🇷 LVMH ($270B)
8 🇨🇭 Nestlé ($266B)
9 🇩🇪 Siemens ($242B)
10 🇬🇧 Shell ($239B)

[Multiples.vc @multiples_vc]

The biggest addition to @multiples_vc since launch is live: a ChatGPT-like AI assistant that works directly on our dataset, and enables you to extract custom insights.

Instead of clicking through grids and filters, you can now just ask:

> "Median revenue multiples for software M&A in the last 12 months"
> "Most acquisitive buyers in SaaS"
> "History of OpenAI valuation"
> "Who could buy a $25M pest control company?"
> "Most active seed stage VCs in fintech"

Every number is pulled live from our database that powers the rest of the platform - no hallucination, no made-up numbers, no "you're absolutely right, this data doesn't exist"

Every paid plan now includes a monthly AI credit bundle. We're also introducing a new $499 tier that gives you 20x usage, and pay-as-you go in case you run out of tokens.

[Marcel van Oost @oost_marcel]

European FinTech giants are now worth over $𝟮𝟭𝟱 𝗕𝗜𝗟𝗟𝗜𝗢𝗡 🤯

And one company is clearly leading the pack:

• 🇬🇧 @Revolut — $75B
• 🇳🇱 @Adyen — $34B
• 🇬🇧 @Worldpay_Global — $24B
• 🇬🇧 @SumUp — $15B
• 🇩🇪 @traderepublic — $15B
• 🇬🇧 Admiral Group — $13B
• 🇬🇧 @Checkout .com — $12B
• 🇬🇧 @FinastraFS — $10B
• 🇬🇧 ION — $9B
• 🇸🇪 Nordnet — $8B

Interesting to see how dominant the UK still is in European FinTech…

But also how companies from Amsterdam (keep an eye on Mollie for future editions 😉), Berlin and Stockholm continue to punch above their weight.

And unlike a few years ago: European FinTech is no longer “emerging”.

It’s producing global category leaders.

📷 Source: https://t.co/NrPJKolnVG

Which European FinTech company do you think could become the continent’s first $100B+ giant?

[Multiples.vc @multiples_vc]

Colombia's 10 most valuable companies:

🇨🇴 @Grupo_Nutresa — $36B
🇨🇴 @ECOPETROL_SA — $27B
🇨🇴 @Bancolombia — $17B
🇨🇴 @isaenergiaco — $8B
🇨🇴 @GrupoEnergiaBog — $7B
🇨🇴 @RappiColombia — $6B
🇨🇴 @grupoaval — $5B
🇨🇴 @GRUPOSURA — $4B
🇨🇴 @Cementos_Argos — $4B
🇨🇴 @BancodeBogota — $3B

[Marcel van Oost @oost_marcel]

Poland 🇵🇱 has 12 Tech companies valued at $1B+

And 2 of them are FinTech:

• XTB online investing — $2.9B — online trading & investing platform
• BLIK — $1B+ — Poland’s dominant mobile payment system

A market that used to be known for outsourcing is now building its own Tech giants.

What is going to be the next Polish (Fin-)Tech to join this list?

📷 Source: https://t.co/NrPJKolnVG

[Marcel van Oost @oost_marcel]

Europe’s top 10 FinTechs are worth over $200 BILLION 🤯

And most of that comes from one country..

From the top:

• 🇬🇧 @Revolut — $75B
• 🇳🇱 @Adyen — $36B
• 🇬🇧 @Worldpay_Global — $24B
• 🇬🇧 @SumUp — $15B
• 🇩🇪 @traderepublic — $15B
• 🇬🇧 @Checkout — $12B
• 🇬🇧 Admiral Group Plc — $12B
• 🇬🇧 @Wise — $12B
• 🇬🇧 @FinastraFS — $10B
• 🇬🇧 ION — $9B

A highly concentrated landscape, with a few standout players across Europe.

📷 Source: https://t.co/NrPJKolnVG

Which of these do you think will break away even further from the pack?

And, what is going to be the next European FinTech to break into this top 10?

[Multiples.vc @multiples_vc]

@miguelsantosw @HooCrypto @santisiri Adding in our web version!

[Multiples.vc @multiples_vc]

@ludwig_krause @oost_marcel Hey, we've made this list. Siemens is not a pure-play technology company, but an industrial conglomerate and a medical device maker, so we deliberately skipped it.

[Marcel van Oost @oost_marcel]

Europe’s 🇪🇺 ten largest Tech companies include four (‼️) from The Netherlands 🇳🇱, even though the country represents just 4% of Europe’s total population 🤯

📷 Source: https://t.co/IaahNs6Atl

[Multiples.vc @multiples_vc]

Online classifieds may be the most underrated business model in tech, dominated by local monopolies.

Once a classifieds platform wins a market — whether it's jobs, homes, or cars — it's nearly impossible to displace.

Network effects compound, switching costs rise, and the platform becomes the default. That's why these businesses trade at 6-12x revenue despite being relatively low-growth — the margins and cash flows are exceptional.

[Multiples.vc @multiples_vc]

Brazil is the true king of neobanking (or perhaps sharing this title with the UK!)

Seven (!) Brazilian neobanks are unicorns - valued above $1B. Four of them are publicly traded, after @picpay listing in January and @agibank in February this year.

No other market has produced this kind of pipeline.

Elsewhere in Latin America, the neobank model is also working. Argentina's @uala_arg recently raised $195M at a $3.2B valuation — nearly one in five Argentine adults now uses the platform. Mexico has a growing roster of challengers including albo and Stori, though @nubank's scale there is hard to match. The conditions that made Brazil fertile ground - large underbanked populations, high smartphone penetration, legacy banking frustration - exist across the region.

Seven Brazilian neobanks currently valued above $1B:
🇧🇷 @nubank — $73B — Public — The world's largest digital bank by customer count, with 131 million customers across Brazil, Mexico, and Colombia.
🇧🇷 Inter— $5.1B — Public — Originally a traditional bank, transformed into a financial super app with 40M+ users.
🇧🇷 @picpay — $3.6B — Public — Started as a P2P payments app in 2012, now a full-service digital bank. Raised $434M in its January 2026 Nasdaq IPO.
🇧🇷 @agibank — $2.2B — Public — Focuses on social security-backed lending (crédito consignado) for underserved consumers. Listed on NYSE in February 2026.
🇧🇷 @C6Bank — $1.9B — Private — Full-service digital bank launched in 2019, now with 25M+ clients. JPMorgan Chase holds a 46% stake.
🇧🇷 Neon — $1.6B — Private — Targets working-class Brazilians and small businesses.
🇧🇷 Cora — $1B+ — Private — The SMB-focused outlier on this list. Built for small and medium businesses that were stuck with slow, expensive legacy banking.

Data as of 31 Mar 2026, showing Brazilian neobanks with $1B+ valuation.

cc @oost_marcel!