Tencent and Allianz X, both backers in the first $300m series D tranche, have returned for a $170m extension that boosted N26’s valuation to $3.5bn.

Visa has acquired the cloud-based payment processing software provider Payworks, one of its portfolio companies, also handing an exit to Commerzbank.

Trading conglomerate Itochu was among the investors in supply chain IoT technology developer Traxens’ round, which follows a strategic partnership and equity deal agreed with Maersk last month.

Deep tech-focused venture capital firm IQ Capital has raised a $175m fund to invest in European startups across industries such as artificial intelligence, biotech and blockchain.

AbbVie and Pfizer-backed acute kidney injury therapy developer AM-Pharma has now raised $249m in all and will use the latest round for a phase 3 trial.

K1 Investment Management has provided funding to Graduway just over a year and a half after Susquehanna International Group injected $12.7m.

Boehringer Ingelheim will pay a total of up to $365m to acquire its venture fund's portfolio company Amal Therapeutics, an immunotherapy spinout of University of Geneva.

Boehringer Ingelheim will pay a total of up to $365m to acquire its venture fund's portfolio company Amal Therapeutics, an immunotherapy spinout of University of Geneva.

CreditEase and existing investor Santander InnoVentures both took part in the round, which valued the digital payment card developer at about $250m.

ICL and Royal College of Art-founded edtech developer Sam Labs has now raised $19.8m in all to sustain the growth of its coding education kit business.