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☆ Quench.ai, a new startup from the cofounder of verification unicorn Onfido, just raised a $5 million pre-seed round with this 11-slide pitch deck
▼ + stars: | 2023-07-24 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

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

☆ This startup helps software-as-a-service firms drive sales through word-of-mouth. Check out the 15-slide pitch deck Cello used to raise $3.5 million.
▼ + stars: | 2023-07-20 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Cello, a Munich-based startup incentivizing software-as-a-service referrals, has raised $3.5 million. We got an exclusive look at the 15-slide pitch deck it used to raise the fresh funds. A startup that aims to incentivize peer recommendations to drive growth in sales of software-as-a-service products has raised $3.5 million in fresh funds. Munich-based Cello, founded in 2022, has closed a pre-emp ted seed funding round that was led by German investor HV Capital. "Cello had strong signs of early traction soon after launching our product," Bader said.

Persons: Stefan Bader, Bader, Cello's, ByFounders Organizations: Capital, Software Locations: Munich

☆ Zelt, a HR startup founded by a former VC investor, just raised $3.5 million in seed funding with this 12-slide pitch deck
▼ + stars: | 2023-07-20 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

London-based HR tech startup Zelt has raised $3.5 million in seed funding. The startup enables companies to manage HR, IT, and financial tasks on one platform. We got an exclusive look at the 12-slide pitch deck it used to raise the fresh funds. A startup that enables companies to manage HR, IT, and financial tasks on one platform has raised $3.5 million in fresh funds. "The current market is steps behind and people operations have become more difficult over the past five years as even small startups are global from day one."

Persons: Mumsnet, it's, Christopher Priebe, Priebe, Charlie Songhurst, Mandeep Singh, Felix Leuschner, Daniel Hegarty Organizations: Global Founders Capital, Zelt, 1, Village Locations: London

☆ Sequoia Capital's Michael Moritz, who led early bets on the likes of Google and PayPal, is leaving the firm after almost 40 years
▼ + stars: | 2023-07-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Michael Moritz, one of Silicon Valley's best-known investors, is leaving Sequoia Capital. Moritz has spent almost 38 years at the firm and led investments into the likes of Google and PayPal. He will now focus on Sequoia's wealth management unit, The New York Times' DealBook reported. Michael Moritz, one of Silicon Valley's best-known investors, is leaving Sequoia Capital after nearly four decades at the firm, The New York Times reported on Wednesday. DealBook reported that Moritz would continue to represent the firm at a handful of companies but would be replaced on the boards over time.

Persons: Michael Moritz, Moritz, Steve Jobs, Roelof Botha, Sequoia, DealBook Organizations: Sequoia Capital, Google, PayPal, New York Times, The New York Times, Apple, Sequoia, Sequoia Heritage, . Sequoia Capital Locations: Europe, India, Southeast Asia, China

☆ Trading app Public to launch in the UK as the Tiger Global-backed fintech unicorn begins its European expansion
▼ + stars: | 2023-07-13 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

US investment app Public is launching in the UK as it pushes into the European market. The company is backed by funds like Tiger Global and Accel as well as celebrities like Will Smith. US trading app Public is set to launch in the UK as it begins its European expansion. Leif Abraham, Public cofounder, said the UK made a "lot of sense" for the company. Public also has plans to expand to other European geographies in future, having announced its intentions to grow out its offering last year.

Persons: Will Smith, Tony Hawk, Leif Abraham, Abraham, Robinhood, Otis Organizations: Tiger Global, Accel, Public, FX Locations: New York, Copenhagen, Europe

☆ Here's the 12-slide pitch deck Prolific, a startup providing quality data to train AI models, used to raise $32 million
▼ + stars: | 2023-07-12 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Prolific, a startup providing quality data for AI training, has raised $32 million in fresh funds. The Y Combinator graduate company aims to help AI models avoid biases and inaccuracies. A startup that gathers quality data to help train AI models has raised $32 million in fresh funds. The company offers researchers access to "fast smart human feedback at scale" that can help AI data sets avoid biases and inaccuracies. Prolific's £25 million (around $32 million) Series A funding comes from Partech and Oxford Science Enterprises (formerly Oxford Science Innovation).

Persons: Phelim Bradley, Bradley Organizations: Oxford Science Enterprises, Oxford Science Innovation, Google, Meta, Stanford University, University of Oxford Locations: London, Partech

☆ European software startup investor Notion Capital has raised $327 million for fifth and largest fund to date
▼ + stars: | 2023-07-06 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

London-based Notion Capital has raised its fifth and largest fund to date. The software-as-a-service investor has brought in $327 million from new and existing LPs. Notion has backed companies like fintech unicorn GoCardless and Currencycloud. London-based investor Notion Capital has raised 300 million euros (around $327 million) for its fifth fund. The fund focuses on software-as-a-service and fintech companies in the UK and Europe with its latest fund domiciled in Luxembourg and denominated in euros.

Persons: GoCardless, Stephen Chandler, we're, didn't, Chandler, Itxaso del Palacio, Stephanie Opdam, Kamil Mieczakowski Organizations: BlackRock, Visa, Tiger Global, Patient Capital, Novo Holdings, Cortes Capital, KfW, Itxaso Locations: Currencycloud, London, Europe, Luxembourg, Shelby County Tennessee, Upvest, Germany

☆ Belgian insurance tech startup Qover just raised a $30 million Series C round with this 18-slide pitch deck
▼ + stars: | 2023-07-06 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Belgian insurance tech startup Qover has raised $30 million in Series C funding. Belgian insurance tech startup Qover has raised $30 million in a Series C funding round. "2022 was pivotal for our business because VC funding slowed down, metrics changed and we have a strong exposure to VC-backed companies," Colmant said. The Series C funding round came from investors including Anthemis, Alven, Kreos Capital and Zurich Global Ventures at an increased valuation. Check out Qover's 18-slide Series C pitch deck below:

Persons: Qover, Quentin Colmant, Colmant, Monese Organizations: Kreos, Zurich Global Ventures Locations: Belgian, Brussels, Kreos Capital

We asked investors at European venture capital funds to pick out rising stars in the industry. Venture capital is in a state of flux right now. Insider has set out to identify some of the rising stars in Europe's venture capital ecosystem who are taking on that challenge. It is London-dominated, with the UK capital once again taking the most VC funding in Europe last year. Read on to see 2023's rising stars of venture capital in Europe, in no particular order.

Persons: Read Organizations: Venture Locations: London, Berlin, Paris, Europe, Stockholm

☆ The cofounder of Iconiq-backed fintech Primer is stepping down as CEO, leaked memo shows
▼ + stars: | 2023-07-03 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Paul Anthony, the cofounder of Iconiq-backed fintech Primer, is stepping down as co-CEO. The company's cofounder Gabriel Le Roux will assume the role of sole CEO. Le Roux confirmed the organizational restructure and said it was a "reflection of the state of the business today." Le Roux insisted that there was no major disagreement to prompt this decision. In a message to staff Anthony said the move was a "real big change on my side."

Persons: Paul Anthony, Gabriel Le Roux, Le Roux, Anthony, We've Organizations: Accel, Iconiq Capital, Apple, PayPal, Braintree Locations: Cocoa

☆ Reproductive health startup Fertifa, unusually headed up by a VC, just raised $6.3 million with this 18-slide pitch deck
▼ + stars: | 2023-06-30 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Reproductive health startup Fertifa has raised $6.3 million in seed funding. A reproductive healthcare startup run by prominent VC investor Eileen Burbidge has raised $6.3 million in seed funding. London-based Fertifa, founded in 2019, provides companies with reproductive health and well-being support for employees facing fertility or sexual health challenges. Burbidge, who was an early backer of fintech bank Monzo as a partner at Passion Capital, took over as CEO at the startup late last year. Other backers include Tiny.vc, EQT Foundation, previous investors Passion Capital and Speedinvest, along with prominent angels like Onfido cofounder Eamon Jubbawy and former Monzo CEO Tom Blomfield.

Persons: Eileen Burbidge, Burbidge, Fertifa, Eamon Jubbawy, Tom Blomfield Organizations: Passion Capital, Meta, Bain Capital, DE, Notion Capital, Triple Point Ventures, EQT Foundation Locations: London, Europe

☆ Hot AI startup ElevenLabs confirms it's raised $19 million from Andreessen Horowitz and GitHub's former CEO
▼ + stars: | 2023-06-20 | by ( Riddhi Kanetkar | Callum Burroughs | ) www.businessinsider.com time to read: +2 min

AI company ElevenLabs has raised $19 million in fresh funding, confirming earlier Insider reporting. Year-old AI voice startup ElevenLabs has raised $19 million in early-stage funding, as venture capital investors rush to back firms in generative AI. Cofounder and CEO Mati Staniszewski previously told Insider that the startup saw huge potential in the publishing and audiobooks sector. Since launching its beta platform in January 2023, the startup says it has hit 1 million users and generated over 10 years of audio content. Credo Ventures and Concept Ventures, which backed the startup's $2 million pre-seed round, also joined the new round.

Persons: ElevenLabs, Andreessen Horowitz, Nat Friedman, Daniel Gross, Mike Krieger, Mustafa Suleyman, Brendan Iribe, Mati Staniszewski, Staniszewski Organizations: Venture, Ventures, Concept Ventures Locations: London, New York

☆ One of Revolut's long-term investors just slashed the value of its stake in the fintech by 40%
▼ + stars: | 2023-06-16 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

A second investor in London-based Revolut has slashed its valuation of the fintech this year. Molten Ventures, a long-term backer, has reduced the value of its position in the company by 40%. Revolut is the latest fintech star to take a valuation haircut, following on from the likes of Stripe and Klarna. A second Revolut investor has slashed its valuation of the London-based fintech company as the price correction of high-value private startups continues. Molten cut the value of its stake in Revolut from £91.3 million ($116.8 million) last year to £54.5 million ($69.7 million) as of the end of March.

Persons: Revolut, SoftBank, Draper, Martin Davis, Davis Organizations: Molten Ventures, Tiger Global, BDO, Financial, Financial Times, City Locations: London, Revolut, Europe

☆ Trezy, a fintech that uses AI to help small businesses manage cash flow, just raised $3.3 million with this 23-slide pitch deck
▼ + stars: | 2023-06-15 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Trezy, a fintech startup that helps small businesses manage cash flow, has raised $3.3 million. Trezy, a fintech startup that uses AI to help small businesses manage cash flow, has raised $3.3 million. Trezy also automatically identifies and categorizes payments while also tracking cash position in real-time as well as monitoring unpaid invoices. In effect, Trezy's offering is designed to remedy the often opaque world of accounting and financial planning for small business owners. The startup has raised $3.3 million in seed funding in a round led by Seedcamp and Playfair Capital, with participation from Kima Ventures.

Persons: Trezy, Quentin Lacointa, Seedcamp, Lacointa Organizations: Playfair, Kima Ventures, SME Locations: Seedcamp, Paris, Amsterdam, Netherlands

☆ Generative AI startup Synthesia just raised $90 million in fresh funds from US fund Accel and Nvidia at a $1 billion valuation
▼ + stars: | 2023-06-13 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

London-based generative AI firm Synthesia has raised $90 million in new funding. Synthesia is now valued at $1 billion, making it the latest AI unicorn despite the difficult market. Generative AI startup Synthesia has raised $90 million in new funding at a unicorn valuation. "What we're also proud of is being a leading AI company that's based in Europe, we intend to stay in Europe and build an impactful AI company here because the talent is available." Synthesia previously raised $50 million in funding in December 2021 in a Series B round led by Kleiner Perkins, with participation from GV.

Persons: Synthesia, We've, Victor Riparbelli, OpenAI's, it's, Kleiner Perkins, Riparbelli, David Beckham Organizations: Accel, GV Locations: London, NVentures, Europe

☆ British payments fintech Volt in talks to raise fresh funds from Coinbase-backer IVP, sources say
▼ + stars: | 2023-06-13 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

London-based fintech startup Volt is set to raise fresh funds, sources say. The company, founded in 2019, is in talks with VC firm IVP over a deal worth around $50 million. British fintech startup Volt is in talks to raise fresh capital from Silicon Valley investing firm IVP, sources say. The payments firm, founded in 2019, has already raised around $28 million to date and counts Swedish investor EQT Ventures among its biggest backers. Volt is set to raise around $50 million as part of the deal, two London-based sources said.

Persons: Slack, PSD2, IVP, Hopin, Tom Greenwood, Jordan Lawrence Organizations: EQT Ventures, Fuel Ventures, Open Finance Association, Open Banking, IFX Locations: British, Silicon Valley, London, Europe, Volt's, Brazil

☆ Early-stage investor Black Seed wants to help create the Black Silicon Valley. It just raised $6.25 million to do just that.
▼ + stars: | 2023-06-13 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

London-based Black Seed has raised $6.25 million to back early-stage Black founders. The fund wants to create a "Black Silicon Valley" in London by investing in seed-stage startups. Black Seed, a VC fund dedicated to backing Black founders in the UK, has raised $6.25 million to invest in early-stage tech. Based out of Brixton, south London, Black Seed is the brainchild of Cyril Lutterodt and Karl Lokko. Black Seed has indicated that intends to raise the full amount.

Persons: Cyril Lutterodt, Karl Lokko, Lutterodt, We've, Lokko, hasn't, Black, haven't Organizations: Molten Ventures, Ventures, University of Texas, WestRiver Locations: London, Brixton, Manchester, Europe, Atomico, Black, Soho, Mayfair

☆ Venture capital giant Andreessen Horowitz to open first office outside of the US in London as it bets on the UK to become leader in crypto regulation
▼ + stars: | 2023-06-12 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Venture capital giant Andreessen Horowitz is set to open its first office outside of the US in London. The Silicon Valley giant is betting on the UK to become a leader in crypto regulation. Venture capital giant Andreessen Horowitz is set to open its first office outside of the US in London as it bets on the British government to become a leader in crypto regulation. Meanwhile, venture capital funding to crypto companies has collapsed over the past year. Andreessen general partner Chris Dixon said that crypto was still in its "early innings" and that technology takes "decades to develop," in a blog post announcing the London office.

Persons: Andreessen Horowitz, Chris Dixon, Sriram Krishnan, Binance, Rishi Sunak, Dixon, Sunak, there's Organizations: Venture, Twitter, Facebook, Securities and Exchange Commission, SEC, School from, Catalyst, Bessemer, Lightspeed Venture Partners Locations: London, Europe, School from London, Silicon, Sequoia

☆ European tech fund EQT Growth set to poach investor from Goldman Sachs who will join as a new partner, sources say
▼ + stars: | 2023-06-09 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

European venture fund EQT is set to hire a Goldman Sachs investor as a partner, Insider understands. A managing director from Goldman Sachs Growth Equity is set to join the fund, sources say. An investor at Goldman Sachs' startup investment arm is set to depart the banking giant to join up with Swedish private equity and venture firm EQT Growth, Insider understands. Kirk Lepke, a London-based managing director at Goldman Sachs Growth Equity, is primed to be poached by the Stockholm investor, two sources familiar with the matter said. Both EQT Growth and Goldman Sachs declined to comment.

Persons: Goldman Sachs, Kirk Lepke, Lepke, EQT, Mollie, Lepke's, Julien Bek Organizations: Goldman Sachs Growth Equity, Goldman, DoorDash, Torch, Summit Partners, Apple Locations: Europe, London, Stockholm, New York, Boston, Lithuanian, Crunchbase

☆ The FOMO is real for venture capitalists paying big premiums to invest in AI startups right now
▼ + stars: | 2023-06-08 | by ( Callum Burroughs | Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

Investors plowed about $25 billion into AI companies in the first three months of 2023. Other US generative AI startups including Adept, Inflection AI, Pinecone and Runway have all raised major rounds in the last few months. AI is minting unicorn-valued companies even in the tech downturnFunding into AI startups was down slightly for the full-year in 2022, matching a broader downturn in tech funding. And VC funding to generative AI startups specifically, many of which are very early-stage businesses, topped $1.7 billion in Q1 2023, per Pitchbook. "No one wants to invest in AI that's going to wipe out humanity," said AlbionVC's Grimm.

Persons: Warren Buffett, OpenAI's ChatGPT, Imran Ghory, Meta, Little, ChatGPT, David Grimm, Nathan Benaich, Benaich, VCs, Geoffrey Hinton, AlbionVC's Grimm Organizations: Blossom, Google, Facebook, Air Street Capital, Investors, EU, Stanford University, Venture Locations: OpenAI, London, Europe, French

☆ Banking-as-a-service fintech Griffin just raised $13.5 million. Check out the 15-slide pitch deck it used to land the fresh funds.
▼ + stars: | 2023-06-07 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Banking-as-a-service startup Griffin just raised $13.5 million in fresh funds. The startup enables businesses to skip the process of finding a banking partner. Check out the 15-slide pitch deck Griffin used to raise the Series A round below. British fintech startup Griffin has raised $13.5 million in fresh funds just months after it secured a UK banking license. Griffin has raised $35.7 million to date, including a $15.5 million raise in July 2022.

Persons: Griffin, David Jarvis, Allen Rohner, we've, Maria Campbell, Campbell Organizations: Financial, MassMutual Ventures, EQT Ventures Locations: London

☆ Andreessen Horowitz-backed fintech Payrails just raised $14.4 million from EQT and General Catalyst using this 11-slide pitch deck
▼ + stars: | 2023-06-07 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

German fintech Payrails has brought in a $14.4 million funding extension. The startup has raised the fresh funds from EQT Ventures and General Catalyst. German fintech startup Payrails has raised $14.4 million in a funding extension from EQT Ventures and General Catalyst, the company said on Tuesday. The fresh funds come from EQT Ventures and General Catalyst, confirming previous Insider reportingVC giant Andreessen Horowitz and German investor HV Capital funded a $6.4 million seed round in 2021. "We've grown and now have large enterprises using the product so the fundraising is a decision to help us accelerate our product roadmap."

Persons: Payrails, Catalyst, Andreessen Horowitz, Orkhan, Emre Talay, Nicolas Thouzeau, we've Organizations: EQT Ventures, Capital

☆ Keeta, a startup aiming to be the Venmo of international payments, just raised $17 million in a round backed by ex-Google CEO Eric Schmidt with this 13-slide pitch deck
▼ + stars: | 2023-06-06 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Cross-border payments startup Keeta has raised $17 million in fresh funds. The seed round was backed by an array of investors including ex-Google CEO Eric Schmidt. Cross-border payments startup Keeta has raised $17 million in a seed funding round backed by an array of investors including former Google CEO Eric Schmidt. We want to make it just as easy for a manufacturer in Indiana to send $200,000 to a vendor in Germany," Keeta CEO and founder Ty Schenk told Insider. The company's $17 million in funding partially comes from former Google CEO Schmidt alongside other, unnamed investors.

Persons: Eric Schmidt, Ty Schenk, Wise, Schmidt, Schenk, We've Organizations: European Union Locations: The California, Indiana, Germany, Canada, Mexico, Brazil, United Kingdom

☆ Sequoia bolsters London office with sixth partner hire as VC firm unveils radical restructure
▼ + stars: | 2023-06-06 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Venture capital firm Sequoia has hired a sixth partner for its London office, Insider understands. Venture capital firm Sequoia has bolstered its presence in Europe with the hire of its sixth partner in London, Insider understands. "Since Julien joined us as an associate five years ago, he's become a valued member of our London team," Accel partner Sonali De Rycker said. Sequoia will expand in Europe despite a broader contraction in venture capital funding to European startups. Sequoia has closed 21 deals in Europe in the three years since it opened in London, Crunchbase data shows.

Persons: Julien Bek, Accel's Luciana Lixandru, Sequoia's Lixandru, Bek, Julien, he's, Sonali De Rycker, Slay, Matt Miller, George Robson, Anas Organizations: Sequoia, . Venture, Apple, Accel, London, Investment, Investments, Trade Republic, Global Founders Capital, Revolut Locations: Sequoia, Europe, London, California, China, India, Southeast Asia, Geneva, Switzerland, Lixandru

☆ Europe's insurance tech startups raised $2.2 billion in 2022. Here's 19 of the burgeoning sector's hottest companies to watch this year, according to VCs.
▼ + stars: | 2023-06-05 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Insurance tech in Europe had its second-best-ever year in 2022, raising $2.2 billion, per Dealroom. The age-old insurance industry has long been battling upstarts promising to upend the sector. The first wave of insurance tech startups birthed a bevy of now-public companies like Lemonade, Metromile, Hippo, and Root, many of whom are now struggling to justify valuations in the wake of creeping losses. Insider asked Europe's venture capitalists to pick out some of the insurance tech startups they expected to thrive in 2023. Here are 19 European insurance tech startups to watch in 2023:This article was originally published on May 23 and most recently updated on June 5.

Persons: upstarts, Root Organizations: Insurance, Venture Locations: Europe

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