EY Startup-Barometer Deutschland Januar 2026 (EY Swiss Fintech / Banking Barometer)

Summary

• Venture capital investment value for German startups reached almost €8.4 billion in 2025, up 19% from 2024, marking the third-highest total in history [p.4].p.4
• The total number of financing rounds in Germany declined by 5% year-over-year to 716 deals in 2025, representing the fourth consecutive annual decrease [p.4].p.4
• Bavaria secured the largest share of funding volume by state for the second year in a row at €3.3 billion, followed by Berlin at €2.7 billion [p.8].p.8

Key insights

1. The fourth quarter of 2025 saw the lowest monthly deal count of the year in December with 37 deals, but achieved a high quarterly average monthly volume of €740 million [p.5].p.5
2. Berlin maintained the lead in terms of the number of funding rounds with 218 deals, outpacing Bavaria's 149 deals [p.7].p.7
3. Munich startup investment volume increased by 38% to €2,453 million, closely trailing Berlin's city-level total of €2,680 million [p.27].p.27