The total cost is estimated at more than 8 billion euros. Greek startups, which is the second highest rate in the region of South-East Europe after Romania. The reins hold 10 startups, some of which are no longer startups, as they are at a mature stage of development, and their total value is approaching 5.8 billion euros on average. This is revealed in the Startups in Greece 2022/2023 report, which was compiled by the Found.ation team in collaboration with EIT Digital and which for the first time publishes a list of the top 10 tech companies based on a range of their value estimates. Thus, in the first place is Viva Wallet, which – after a period of many months of intense negotiations – announced a few days ago the acquisition of the American JP Morgan 48.5%. According to the study, the company’s value is between 1.7 and 2 billion euros, officially making it the first unicorn company (tech company worth over 1 billion). Equally mature tech company Skroutz appears to be moving in the same context, with a value of over €1 billion according to the study, followed by Persado with a value of between €700 million and €1.2 billion. Startups such as real estate operator Blueground, which is valued at close to 1 billion euros, are described as “soon,” followed by Workable with a valuation of 300 to 500 million euros. During Blueground’s latest $180M funding round (of which $40M is debt financing) announced in 2021, the company’s valuation exceeded €700M.

Viva Wallet, which announced a few days ago the acquisition of 48.5% of US JP Morgan, has the highest rating.

The Abu Dhabi Government Fund ADQ also participated in this particular round, which is also the company’s latest funding round (Series C). Flexible car leasing company FlexCar is in 6th place with a capitalization of about 200-300 million euros, followed by Hellas Direct with a valuation of about 100-200 million euros. Finally, the last 3 positions in the ranking with an estimate of 100-150 million euros are occupied by Spotawheel, TileDB and financial services (fintech) technology company Plum.

For now, we recall that due to the unfavorable economic environment, the value of many technology companies around the world – especially in cases that were especially “inflated” – decreased significantly in 2022. However, according to representatives of Greek startups, Greek valuations are moving at several reasonable levels, but this does not mean that during the year they faced not difficulties in finding financing, but problems related to ensuring their sustainability. According to the same study, investments (taking into account investments made through the AMK and not through borrowing) amounted to approximately 310 million euros this year from 540 million euros in 2021, a drop of more than 40%.