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☆ Roll up, roll up: Private equity funds target buyouts and consolidation at Europe's cash-strapped tech startups
▼ + stars: | 2023-11-14 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +5 min

More importantly buyers – in the form of private equity firms – are starting to line up. "Growth is clearly harder so we'll see a lot of M&A because PE funds are trying to grow their business and so are looking at early-stage tech businesses." This increased interest means private equity is set to play an enlarged role in Europe's startup ecosystem. Rollups, where private equity firms buy up a bunch of small businesses in an industry and consolidate them into a larger company, are also on the acquisition hunt. Crucially, private equity funds are unlikely to approach deals for companies that are not yet profitable, or unlikely to become so in the short term.

Persons: Alex Prokofjev, Claire Trachet, It's, Pedro Barros Organizations: Business, Venture, Bain, KKR, PE, Target Locations: London, Paris

☆ Defacto provides short-term loans to SMEs. It just raised $10 million with this 20-slide pitch deck.
▼ + stars: | 2023-11-14 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

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

☆ Solvimon, founded by ex-Adyen execs, has built a usage-based billing platform. It just raised $9.6 million with this 10-slide pitch deck.
▼ + stars: | 2023-11-13 | by ( Callum Burroughs | ) www.businessinsider.com time to read: 1 min

Dutch fintech startup Solvimon has raised $9.6 million in seed funding. The startup, founded by former Adyen execs, enables SaaS firms to offer usage-based pricing. Solvimon, a payments and billings startup, just raised $9.6 million in a seed round. The Dutch company, founded in 2022, has developed a billing platform that centers on usage-based pricing. "What we have seen is that the world is moving towards more flexible pricing," Kim Verkooij, Solvimon cofounder and CEO told Insider.

Persons: Kim Verkooij Organizations: billings Locations: Europe

☆ Howe not looking for excuses despite Newcastle's long injury list
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +3 min

Nov 10 (Reuters) - Newcastle United have been hit by a string of injuries this season but manager Eddie Howe said on Friday they are good enough to cope. The injury list includes Sven Botman, Alexander Isak, Harvey Barnes, Jacob Murphy and Dan Burn along with a long-term ban on Sandro Tonali and Howe has never had it this bad. We are building up his load and the plan is for him to return after the international break," said Howe. Newcastle began the Premier League season with a victory before suffering three consecutive defeats but since then are unbeaten in their last seven league games and the manager was impressed with how his side reacted. Newcastle are sixth in the table on 20 points, while Bournemouth are 18th with just one league win all season.

Persons: Eddie Howe, Sven Botman, Alexander Isak, Harvey Barnes, Jacob Murphy, Dan Burn, Sandro Tonali, Howe, We're, Callum Wilson, Alex, Winger Harvey Barnes, didn't, Bruno Guimaraes, Lewis Miley, Lewis, Trevor Stynes, Ken Ferris Organizations: Newcastle United, Bournemouth, Newcastle, League, Borussia Dortmund, Premier League, Dortmund, Thomson Locations: Bournemouth, Netherlands, Newcastle

☆ Your New Co-Worker Is a Total Drill Sergeant. Literally.
▼ + stars: | 2023-11-09 | by ( Callum Borchers | ) www.wsj.com time to read: 1 min

Listen up, maggots. What this company needs is more effort and less whining, and I know just the person to set the tone: a drill sergeant or somebody who survived one. So goes the thinking at the companies that are lining up to hire the roughly 200,000 people who leave the military each year. The last jobs report before Veterans Day showed the unemployment rate for former service members is 2.9%, a full point lower than the overall U.S. rate.

Organizations: Veterans

☆ Sterling misses out on England selection again
▼ + stars: | 2023-11-09 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

LONDON, Nov 9 (Reuters) - Chelsea forward Raheem Sterling was again left out by England manager Gareth Southgate as he named his squad for the forthcoming Euro 2024 qualifiers against Malta and North Macedonia. Sterling, who has earned 82 caps for his country and was once a key part of Southgate's forward line, has now missed five successive England squads. Despite Southgate saying the door remains open, time is clearly running out for Sterling to force his way back into the reckoning for the Euro 2024 finals. Manchester City's John Stones misses out because of injury while Chelsea's Reece James is also not included despite recently returning from a lengthy injury lay-off. "I'm super excited about the tournament, we're really gearing towards the next tournament and I think everybody in international football is always living from tournament to tournament.

Persons: Raheem Sterling, Gareth Southgate, Sterling, Southgate, Raheem, we've, Eddie Nketiah, Callum Wilson, Aston, Ollie Watkins, Manchester City's John Stones, Chelsea's Reece James, Reece James, that's, Sam Allardyce's, Sam Johnstone, Jordan Pickford, Aaron Ramsdale, Levi Colwill, Lewis Dunk, Marc Guehi, Harry Maguire, Fikayo, Kieran Trippier, Kyle Walker, Trent Alexander, Arnold, Jude Bellingham, Conor Gallagher, Jordan Henderson, Kalvin Phillips, Declan Rice, Jarrod Bowen, Phil Foden, Jack Grealish, Harry Kane, James Maddison, Marcus Rashford, Martyn Herman, Toby Davis Organizations: Chelsea, Malta, Italy, Newcastle United, Manchester, Wembley, Arsenal, Brighton & Hove Albion, Manchester United, Milan, Manchester City, West Ham United, Bayern, Tottenham Hotspur, Aston Villa, Thomson Locations: England, North Macedonia, France, Germany, Malta, Crystal, Everton, Chelsea, Manchester, Liverpool, Real Madrid, West, Bayern Munich

☆ This startup uses AI to cut admin in PE and VC. Check out the 12-slide pitch deck Eilla AI used to raise $1.5 million.
▼ + stars: | 2023-11-09 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Eilla AI, a startup using generative AI to improve dealmaking efficiency, has raised $1.5 million in fresh funds. The startup's platform generates documentation and provides financial research and analysis to speed up the process for firms in the space. In addition, the industry is slow to adapt to new technologies and there are not many solutions fit for M&A, VC, and PE." The company claims to have already been used by over 50 advisors and investors to aggregate and analyze prospective deals. The funding round was led by Eleven Ventures alongside Fuel Ventures, including capital from the fund's managing partner Mark Pearson, in a personal capacity.

Persons: Nikola Lazarov, Mark Pearson, Lazarov Organizations: Eleven Ventures, Fuel Ventures Locations: London

☆ Voice cloning AI startup ElevenLabs was worth $100 million five months ago. Now, sources say it's about to hit $1 billion.
▼ + stars: | 2023-11-08 | by ( Callum Burroughs | Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

ElevenLabs, a generative AI startup focused on voice, is in talks to raise capital in a deal that would catapult its valuation to $1 billion. It is unclear as yet whether Sequoia would invest alongside Andreessen Horowitz or if they are competing with one another. Five months on, the prospective new round will increase that valuation 10 times over to $1 billion, three sources said. ElevenLabs and Andreessen Horowitz did not respond to a request for comment. Bruce Reed, President Biden's AI chief, said that voice cloning "keeps me up at night," in an interview with Politico.

Persons: Andreessen Horowitz, Joe Rogan, Emma Watson, Gizmodo, ElevenLabs, Sequoia, OpenAI's ChatGPT, FOMO, Mati Staniszewski, Nat Friedman, Daniel Gross, Eric Adams, Adams, Bruce Reed, Biden's, Meta Organizations: Google, VC, Sequoia, Meta, Britain's Companies, Concept Ventures, New York City, White, Politico Locations: London, New York

☆ AI supply chain startup Tacto is set to raise funds from Sequoia. It's already in talks to bring in more cash.
▼ + stars: | 2023-11-03 | by ( Callum Burroughs | Tasmin Lockwood | ) www.businessinsider.com time to read: +2 min

Tacto, a small German AI supply chain startup, is set to raise new funding from US giant Sequoia and is already in talks with a different high-profile investor to raise another round. Sequoia is set to lead Tacto's Series A round, six sources familiar with the deal told Insider. Unusually, the startup has already begun talks to raise another round of funding in addition to the Sequoia deal. Tacto is also in talks with London-based Index Ventures to immediately raise another funding round, five sources said. Andreessen Horowitz led a seed round in tiny AI startup ElevenLabs in March, and is also in talks with months-old company Mistral.

Persons: Tacto, Andreessen Horowitz, Fintech, Hanno Renner Organizations: London, Ventures, Sequoia, Energy, nab, Cherry Ventures, UVC Partners, Club Locations: Sequoia, Munich, Berlin

☆ European Wildlife Photographer of the Year 2023: Caring stink bugs and tangled octopuses
▼ + stars: | 2023-11-03 | by ( Callum Sutherland | ) edition.cnn.com time to read: +3 min

Rolex’s Perpetual Planet initiative has partnered with CNN to drive awareness and education around key sustainability issues and to inspire positive action. That’s exactly what was captured by the overall winner of the 2023 European Wildlife Photographer of the Year award. The photo taken by biologist Javier Aznar González De Rueda shows with incredible detail a female stink bug shielding her eggs and newly hatched larvae. Two octopuses tangle their tentacles around one another, unusual behavior, according to photographer Francisco Javier Murcia Requena. “They stimulate interest in species, habitats and the interconnectedness of nature as well as increasing awareness for nature conservation.”

Persons: CNN —, Javier Aznar González De Rueda, Aznar, ”, tripterus, Francisco Javier Murcia Requena, Mark Littlejohn, Petr Bambousek, Petr Bambousek Sabine Riewenherm Organizations: CNN, Central America, German Society for Nature, German Federal Agency for Nature Conservation Locations: Ecuador’s, Spanish, South, Central, Brazil

☆ Dutch payments startup Fero just raised a $3 million seed round led by Coatue with this 11-slide pitch deck
▼ + stars: | 2023-11-02 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Dutch payments fintech startup Fero has raised $3 million in a seed funding round from US hedge fund Coatue. The Amsterdam-based startup, founded in 2022, aims to improve the customer verification process at checkouts and decrease the level of abandoned purchases. Payment authentication, where customer identities are verified, has become much more crucial for businesses since the rollout of Europe's PSD2 Open banking regulations. Fero wants to reduce the level of friction customers face during this authentication process, the startup's cofounder and CEO Craig Savage said. The company went through the tech startup incubation program Antler before raising this $3 million seed funding round led by Coatue, alongside Volta Ventures and Antler.

Persons: Fero, Craig Savage, Savage, Coatue Organizations: Volta Ventures Locations: The Amsterdam, Madrid, Amsterdam

Mistral, a tiny AI startup that aims to be Europe's answer to OpenAI, is in discussions to raise a major round of funding that could push its valuation above $2 billion. Its cofounders are in talks with venture capital firm Andreessen Horowitz to raise further funds, seven sources familiar with proceedings told Insider. Mistral is set to raise around $400 million at a valuation of at least $2 billion, which could rise to as high as $2.5 billion, three sources said. The deal is not yet finalized and the round size, valuation figures, and participants could still change. Andreessen Horowitz, General Catalyst, Mistral, Abstract Ventures, and Bezos Expeditions did not respond to Insider's request for comment.

Persons: Andreessen Horowitz, Catalyst, Arthur Mensch, Guillaume Lample, Timothée Lacroix, Jeff Bezos, Xavier Niel Organizations: Mistral, Meta, DeepMind, Bezos Expeditions, Amazon, Catalyst, Ventures, Lightspeed Venture Partners Locations: Paris

Not every AI company is hot right now. While European and US tech investors are throwing funding at startups that look like the next Nvidia or ChatGPT, they're less optimistic about one big player: British AI chip company Graphcore. The UK tech industry is small, and Insider granted anonymity to these people to avoid jeopardizing their professional relationships. One founder operating in the same space as the AI chip firm speculated that Arm could be a leading contender to acquire Graphcore. In September, Toon pitched Graphcore in an interview with Insider as a viable rival to Nvidia, which holds around 70% of the AI chip market, per Omdia analysis.

Persons: Graphcore, Baillie Gifford, it's, Nigel Toon's, Toon, we'll, Rishi Sunak Organizations: Nvidia, Graphcore, Insider, Sequoia Capital, Bloomberg, UK, China Locations: British, Europe

☆ Nmecha strikes to give Dortmund vital win at Newcastle
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +3 min

NEWCASTLE, England, Oct 25 (Reuters) - Borussia Dortmund rekindled their hopes in Champions League Group F with a gritty 1-0 victory at Newcastle United thanks to Felix Nmecha's clinical first-half strike on Wednesday. Nmecha's well-taken goal near the end of a high-octane opening half proved enough for the Bundesliga side to post their first win in the group at the third time of asking. The two sides will meet again in a fortnight in Dortmund in a match that is likely to be pivotal. Nmecha's first Champions League goal at the end of a high-octane opening half was Dortmund's first in the competition this season and ultimately it proved decisive. Dortmund stifled Newcastle after that but needed some luck in the dying minutes to go home with the points.

Persons: Felix Nmecha's, Nmecha's, Callum Wilson, Anthony Gordon, Eddie Howe's, Edin Terzić, Howe, Gordon, Nico Schlotterbeck, Pope, Donyell Malen, Malen, Gregor Kobel, Wilson, Alexander Isak, First Wilson, Matt Targett, Terzic, Martyn Herman, Hugh Lawson Organizations: Borussia Dortmund, Champions League, Newcastle United, Bundesliga, Dortmund, Newcastle, Paris St Germain, PSG, TNT Sport, League, Thomson Locations: NEWCASTLE, England, Milan, Dortmund, Kobel

☆ Injuries add to Newcastle woes in Dortmund loss
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Defeat means Newcastle face a fight to progress from Group F although they are still well-placed with four points from three games, the same as Dortmund. But of even more concern to Howe were injuries to forwards Alexander Isak and Jacob Murphy. "Isak going off was a blow and Jacob came off with what looks like a serious injury," Howe said. Jacob looks serious, potentially a dislocation of his shoulder." Newcastle face Wolverhampton Wanderers away in the Premier League on Saturday.

Persons: Park, Newcastle United's Alexander Isak, Lee Smith, Newcastle United's, Eddie Howe's, Howe, Alexander Isak, Jacob Murphy, Sweden's Isak, Callum Wilson, Murphy, Isak, Jacob, We've, That's, Elliot Anderson, He's, Martyn Herman, Hugh Lawson Organizations: Soccer Football, Newcastle United, Borussia Dortmund, James, Newcastle, Champions League, Wolverhampton Wanderers, Premier League, Thomson Locations: Newcastle, Britain, NEWCASTLE, England, Dortmund

☆ Borussia Dortmund secure vital win at Newcastle
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

NEWCASTLE, Oct 25 (Reuters) - Borussia Dortmund rekindled their hopes in Champions League Group F with a gritty 1-0 victory at Newcastle United thanks to Felix Nmecha's clinical first-half strike on Wednesday night. Nmecha's first-time finish near the end of a high-octane opening half proved enough for the Bundesliga side to post their first win in the group at the third time of asking. After a wide-open half, Dortmund defended their lead solidly after the break although Callum Wilson headed a chance against the crossbar and Newcastle struck the woodwork again deep into stoppage time. Defeat was an anti-climax for Newcastle after their win over Paris St Germain in the previous match, and the group is now wide open. PSG have six points with Newcastle and Dortmund both on four points and Milan on two.

Persons: Felix Nmecha's, Nmecha's, Callum Wilson, Martyn Herman, Hugh Lawson Organizations: NEWCASTLE, Borussia Dortmund, Champions League, Newcastle United, Bundesliga, Dortmund, Newcastle, Paris St Germain, PSG, Thomson Locations: Milan

☆ Irish employee benefits startup Kota just raised a $5.3 million seed round. Check out the 11-slide pitch deck it used to land the funds.
▼ + stars: | 2023-10-25 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

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

☆ Ctrl Alt, founded by an ex-Morgan Stanley trader, offers alternative asset investment tools. Check out the 10-slide pitch deck it used to raise $2.7 million.
▼ + stars: | 2023-10-23 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Ctrl Alt, a fintech startup that offers infrastructure to invest in alternative assets, has raised $2.7 million in a seed round. For fintech startups that offer wealth management and investment products, alternatives could provide new opportunities to make revenues from wider yield spreads, Ong said. "The market is tough for fundraising and that has an impact on you as a founder," Ong added. The fresh capital will go towards building out Ctrl Alt's tech team and expanding its relationships with prospective customers. Check out Ctrl Alt's 10-slide seed funding deck below:

Persons: Morgan Stanley, Matt Ong, it's, Ong Organizations: Forward Partners, Middlegame Ventures, Enterprise Ireland, Algorand Ventures, Syndicate Locations: London, fintech

☆ Inside the implosion of dark kitchen startup Kbox Global, another pandemic-era boom beginning to bust
▼ + stars: | 2023-10-23 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +8 min

In 2019, after years of investing in and setting up food and beverage brands internationally, she founded dark-kitchen startup Kbox from London. But two years after this funding, large for an early-stage European startup, Vellani exited the business suddenly, citing health issues. "You're only judged on food quality, but if the chef is doing 10 times the work for same money, then it's a fundamental problem." Both Uber Eats and Deliveroo, after an initial burst of interest, would eventually go on to cut back on virtual brands. In an email comment, Vellani acknowledged her lack of direct technical experience but said she sought to fix this through other C-suite hires.

Persons: Salima Vellani, Uber, Travis Kalanick, Vellani, Butler, CloudKitchens, Kbox, MrBeast Burger, YouTuber MrBeast, Jimmy Donaldson, Influencer Jimmy Donaldson, Burger, Brexit, Vellani didn't, Karim Vellani, Karim, Ben Schultz, Nick Holloway, I've Organizations: Balderton, Hoxton Ventures, Reef Technologies, Lean, Network, United, Advisory Locations: London, Saudi, Revolut, COVID, Kbox, Sydney

☆ Want to Beat Your Return-to-Office Mandate? Try ‘Coffee Badging’ at Your Own Risk
▼ + stars: | 2023-10-19 | by ( Callum Borchers | ) www.wsj.com time to read: 1 min

A cup of coffee in the majors is the term for a short baseball career in the big leagues. Now some white-collar workers are leaving the office almost as soon as they arrive and calling the practice “coffee badging.”The difference is the ballplayer wishes he could stay; the people ditching their desks would rather not show up in the first place.

☆ The startup enables investors to buy secondary shares in pre-IPO companies. Check out the 11-slide pitch deck Hiive used to raise $4.2 million.
▼ + stars: | 2023-10-17 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Hiive, a startup that offers a marketplace for secondary shares in private tech companies, has raised $4.2 million in funding. The Vancouver-based company, founded in 2021, enables the purchase and sale of stakes in pre-IPO, venture-backed companies. Hiive, led by Sim Desai, formerly of secondaries broker Setter Capital, wants to provide a marketplace where an array of buyers and sellers can make trades. "We saw this market growing exponentially after 2021 and thought there must be an opportunity to centralize this rapidly growing market," Desai told Insider. Hiive's $4.2 million funding was led by Uncorrelated Ventures, alongside Splash Capital, Harmony Venture Partners, Hack VC, and Agmen Capital.

Persons: Sim Desai, Desai, we've, it's, Hack Organizations: Capital, Splash Capital, Harmony Venture Partners, Agmen Locations: Vancouver

☆ You’ve Never Had It So Good. That’s Why You’re Stuck.
▼ + stars: | 2023-10-13 | by ( Joe Pinsker | Callum Borchers | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/lifestyle/careers/feeling-stuck-jobs-homes-gyms-economy-f29e7434

Persons: Dow Jones

☆ You’ve Never Had It So Good. Which Is Why You’re Stuck.
▼ + stars: | 2023-10-13 | by ( Joe Pinsker | Callum Borchers | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ The giant sucking sound you hear is the gobs of capital being pulled away from emerging managers. Here's how one solo capitalist defied the slump.
▼ + stars: | 2023-10-12 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

Those who raised their first venture capital funds in the pandemic-era boom times are now struggling with their sophomore efforts. Despite the tailwinds, some emerging managers are defying the slump and raising new funds. He told Insider exclusively that he's now closed on $15 million for fund two from investors including Cendana Capital, Invesco Private Capital, and two dozen startup founders. And so in 2019, he reached into his network of founders and raised a $2 million fund to invest in software companies. Now, he's already gearing up for fund three, which Wan said he plans to launch in 2024.

Persons: Insider's Callum Burroughs, Jordan Wan, Wan, Zocdoc, Oliver Kharraz, it's, Alan Ni, Jake Cooper, Manoj Kanagaraj, Blackstone, Cooper didn't, Cooper, they've, Wolf Organizations: Sequoia, Partners, Cendana, Invesco, Capital, Oscar Insurance, Garner Health Locations: London, Denver , Colorado, Wan

☆ Wild beavers return to west London for first time in 400 years
▼ + stars: | 2023-10-11 | by ( Callum Sutherland | ) edition.cnn.com time to read: +2 min

London CNN —Wild beavers have returned to London’s Ealing district after an absence of 400 years. A family of five Eurasian beavers – a breeding pair and their three offspring – were transported from Scotland and released today at the Paradise Fields wetlands area, in Ealing, west London. The Ealing Beaver Project hopes the beavers can help reduce the risk of flooding, as well as engaging people in nature. “It’s good for humans, it’s good for nature, it’s good for our city.”His Rewild London Fund provided almost £40,000 ($49,000) in funding for the project. In March 2022, beavers were released in Enfield, north London, and last month it was announced that a baby beaver had been born there, the first beaver birth in London for hundreds of years.

Persons: London ., Sadiq Khan, “, James Stacey, Sean McCormack, ”, McCormack Organizations: London CNN, Ealing Beaver Project, London, Beavers, Fund, Ealing Wildlife Group, “ Beavers Locations: Ealing, Scotland, London, ”, Greenford, “ Greenford, Devon, England, Enfield

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