N26 turned its first full-year net profit in 2025 (€1.6M on €501.6M). Inside Europe's pioneering neobank: the BaFin growth cap, the founder-to-CEO handover, full valuation history and what it's worth now.

Quantum Systems reached an $8B valuation (July 2026) on a $1.2B Series D. Inside Germany's defence-drone champion: Vector/Twister, the Bundeswehr contract, the funding ladder and the scarcity-premium question.

HappyRobot announced a $1.2B post-money valuation in August 2026. TUM calls it unicorn #23. It is a Delaware corporation headquartered in San Francisco. Inside the four-address gap between where a company is formed and who ends up owning it.

Celonis, Germany's process-mining decacorn, was last primary-priced at ~$13B (2022); a 2024 secondary implies ~$7.7B. Inside the category, the founders, full valuation history and the SAP antitrust fight.

Berlin fintech Moss closed a €35M Series C at a €1B valuation — Germany's newest unicorn. Inside its bet on steerable Finance AI over autonomous agents.

An independent 2026 mark-to-market stress test estimates Europe's 199 VC-backed unicorns have lost roughly €123 billion in paper value, with about 60 modeled below $1B. Europe didn't lose 60 unicorns — it finally began pricing them again. Modeled estimates, attributed.

Helsing closed $1.8bn Series E at $18bn on July 13, 2026, led by Dragoneer and Lightspeed. Real product, real war, wartime valuation. First entry in the Unicorn Atlas.

Scaling a startup in DACH is now constrained less by talent than by growth-stage capital. The latest 2024–2025 funding data, scaling hubs, and the Series B+ gap across Germany, Austria & Switzerland.

Explore the Unicorn Atlas: Germany, Austria & Switzerland’s $1B+ startups, trends, IPOs, and exclusive interviews.