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French fintech startup Defacto has raised a $10 million Series A extension from Citi Ventures. The Paris-based business, founded in 2021, provides short-term loans to small and medium-sized businesses. However, through integrations with businesses like fellow fintechs Pennylane and Qonto, Defacto wants to lower the cost and administration for smaller businesses. The new funding will go towards the continued growth of Defacto's platform as it pushes towards more personalized debt financing for small businesses. Check out Defacto's 20-slide Series A extension pitch deck below:
Persons: Pennylane, Morgan O'Hana, O'Hana, Northzone Organizations: Citi Ventures, Open Banking, Global Founders Capital Locations: Paris, integrations
Employee benefits startup Kota has raised $5.3 million in a seed round led by Swedish investor EQT Ventures. Kota helps businesses and employees track their enrollment and contributions through integrations with benefits providers. "Europe is very fragmented with lots of different pension and insurance plans making it hard for small companies to offer benefits because it's expensive and often very manual." Kota's seed round was led by EQT Ventures with participation from existing investors Northzone and Frontline Ventures. Check out Kota's 11-slide seed funding pitch deck below:
Persons: Luke Mackey, Kota, Mackey, Van Der Voort, Romain Huet, EQT Organizations: EQT Ventures, Irish, Frontline Ventures Locations: Swedish, Europe, Kota
Quench.ai, a new company from Onfido cofounder Hussayn Kassai, has raised $5 million. The pre-seed round came from an array of firms including Firstminute Capital and Tuesday VC. The startup wants to help upskill young professionals at companies to give them a competitive edge. Quench.ai, a new startup using AI to help upskill workers, has raised $5 million in pre-seed funding. The startup, which was set up by the cofounder of identity verification unicorn Onfido, aims to help professionals find relevant training content to help with learning and development.
Persons: Hussayn Kassai, Kassai, Quench.ai Organizations: Firstminute Capital, Firstminute, VC, BY Venture Partners, Ada Ventures, Ventures, Notion Locations: COVID, Europe
London-based fintech startup Yonder has raised $78 million in debt and equity. Yonder, a London-based credit card startup, has raised $78 million in debt and equity in a new funding round. Yonder previously brought in $26 million in debt and equity as part of a seed funding round. This latest raise comes in the form of £12.5 million, about $15.7 million, in equity and £50 million, roughly $62.6 million, in debt. Yonder also plans to launch in two further unspecified cities and offer more events to users with its new capital, Chong said.
Early Spotify investor Northzone has hired Tybourne Capital director Sanjoy Malhi as a partner. Early Spotify backer Northzone has hired a director from second-generation Tiger Cub fund Tybourne Capital to lead its growth investments. The London-based fund, founded in 1996, has appointed Sanjot Malhi as a partner focused on growth-stage deals across Europe. Malhi will help distribute a $1 billion multi-stage fund that Northzone closed in September. However, many of those companies were funded with growth capital without having strong business fundamentals in place leading to a lot of pain in the market.
Tech's 'age of entitlement' is over, Northzone says
  + stars: | 2023-01-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTech's 'age of entitlement' is over, Northzone saysMichiel Kotting, partner at Northzone, discusses technological developments over the last decade, and the outlook for tech in 2023.
Sequoia's iconic 2008 'R.I.P Good Times' presentation still rings true for some investors. Good Times" presentation from 2008. "Because people are so programmed with the whole RIP Good Times thing, the nuance gets lost sometimes." Magda Lukaszewicz, principal at Balderton, echoed this – even if it takes companies longer to achieve said goals. Sequoia's "RIP Good Times" ends on a bleak note: Get Real or Go Home.
2023 should curtail the current flow of bad startup ideas. The way it roughly works is to bet millions across lots of startups in the hope one of them blows up and returns that cash. 'Fewer insane ideas'We are no longer in a low-interest-rate market, meaning startup investors who could once rely on generous backers will have to be more cautious about how they spend their money. They do have lots of money, with an estimated $290 billion of capital available to them in October, according to Pitchbook data. But Kniaz senses a shift in motion: "This next year will show which emperor has clothes on or not.
About 400 Pollen employees were camped out in Mendocino County, California, for five straight days of partying. Two former Pollen employees told Insider that they recalled the assistant telling them about Callum's inappropriate comments at the time. (The Pollen representative said Callum and Bedi didn't date at Pollen or at any other company connected to Pollen. Out of 360 events Pollen announced over the past 12 months, 39 were canceled, the Pollen representative said. (The Pollen representative said that "out of hundreds of thousands of customers, fewer than 100 people were moderated" online.)
[1/4] An Einride Pod, an electric self-driving truck developed by Einride, which has no cabin for a driver, is shown in this undated handout photo obtained by Reuters on November 3, 2021. Einride/Handout via REUTERS/File PhotoDec 7 (Reuters) - Swedish electric self-driving truck start-up Einride said on Wednesday it had agreed to raise capital of $500 million from debt, equity and the conversion of earlier loans, speeding up the company's ability to pursue new markets and customers. A $300 million debt facility was signed with Barclays Europe, while $200 million in equity came from new and existing investors, including EQT and Northzone, Einride said in a statement. Some $90 million of the equity came in the form of earlier debts being converted to shares. The company's business is based on self-driving technology for freight trucks, which has attracted investor attention in recent years as it is deemed to be cheaper as well as easier to roll out compared to self-driving cars.
Horacio Villalobos | Getty ImagesLISBON, Portugal — Once high-flying tech unicorns are now having their wings clipped as the era of easy money comes to an end. Rising cost of capitalPrivate tech company valuations are under immense pressure amid rising interest rates, high inflation and the prospect of a global economic downturn. "What we've seen in the last few years was a cost of money that was 0," Pousaz said. Pousaz said investors are yet to find a "floor" for determining how much the cost of capital will rise. 'An entire industry got ahead of its skis'A common topic of conversation at Web Summit was the relentless wave of layoffs hitting major tech companies.
Estonian startup Katana has raised $35 million for its enterprise resource planning software. Check out the 19-slide pitch deck it used to raise the Series B round below. Estonian manufacturing software startup Katana has raised $35 million in a Series B round led by early Spotify investor Northzone. Northzone led the Series B round with additional participation from other VCs, including new investor Lightrock as well as returning investors Atomico, 42CAP, and several angel investors. Check out the 19-slide pitch deck Katana used to raise the fresh funds below.
Homa has raised $100 million in a Series B round to expand its platform for indie game developers. Check out the 19-slide pitch deck to raise the Series B round below. French gaming startup Homa, which aims to make game development easier and more efficient, has raised $100 million in a Series B round. He points to the way in which game engines such as Unreal showcase the potential of their technology with games such as Fortnite. It generates cash through a revenue share scheme with developers who make a profit on games that work, Nathan said.
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