Tech & Digital

Scale-Up Financing in the Netherlands: From Grants to Growth Equity

Updated: 18 August 2026 Holdwise editorial team Financing Scale-up Funding

In the Netherlands, financing for scale-ups comes in stages. In the early stage, you use subsidies and tax credits. Then angel and seed investors join. National growth investors come in at the middle stages, and international growth investors at the scale-up stage. Founders who use each stage in this order raise money at a lower total cost. At Holdwise, we keep this answer up to date. You find the steps further down this page.

Grants and R&D tax relief

With the WBSO, you pay less payroll tax on R&D work every month, from your first developer (the WBSO credit). With an innovation credit, you can borrow money for development plans on favourable terms. Through demonstration and sector programmes, you can get grants for hardware, energy and life sciences. In profitable years, qualifying profit is taxed at a lower rate in the innovation box (the 9% rate). Every euro you get from these sources early means you give away fewer shares later.

Angel, seed, and growth equity

Angels and seed funds make the first investments, usually in the standard holding structure (the holding structure for startups). Regional development agencies invest alongside them and can wait longer for a return. National growth funds now lead larger rounds, which in the past were too big for Dutch investors alone. Investors check the same points at every stage. See getting Series-A-ready. Before a priced round, founders often use convertibles and SAFEs.

Venture debt and growth equity

Venture debt is priced on your recurring revenue. With it, you have more time between two funding rounds. Growth investors from the Netherlands and abroad come in from Series B, often together with US investors. See US investors and the Dutch BV. When you sell, your holding receives the gain at a 0% tax rate. See selling your company through a holding.

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Frequently asked questions

Which financing stage do founders skip most expensively? +

The early grants and credits. Many teams sell shares in a seed round to pay for work that the WBSO or an innovation credit could have funded. Use the subsidies and credits first. They are the cheapest money available in the Netherlands.

Do the national growth investors change how funding rounds work? +

Yes. With a strong Dutch lead investor at Series B, international funds have to compete, and you need less time to form a group of investors. For founders, this means more choice in every round.

How current is this overview? +

Reviewed 18 August 2026. Individual instruments and funds change from year to year, but the overall order of financing stages stays stable.

Sources Belastingdienst · KVK · wetten.overheid.nl Last updated: 18 August 2026