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Search resuls for: "Callum Burroughs"


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☆ Inside the opaque tech market where startup employees and early investors are trying to get rich now IPOs have collapsed and the VC party is over
  + stars: | 2023-03-16 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +6 min
Startup employees and early investors tended to get rich at IPO or acquisition. That's the tough reality for startup employees and early investors as IPOs drop off and venture capital funding dries up. There's a glut of highly valued, late-stage private companies that should be debuting on stock exchanges in the next 12 to 36 months. Share options held by employees and investors can also come with an array of terms and conditions that make them harder to liquidate. "Investors are defending valuations that hurt employees – and companies long term – but help them raise their new funds.
☆ Legislate makes contracts easier to draft, query, and sign. Check out the 10-slide pitch deck it used to raise $3.6 million.
  + stars: | 2023-03-14 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
London-based legal startup Legislate just raised $3.6 million in fresh funds. The company makes it easier to draft, query, and sign contracts, reducing legal costs in the process. Check out the 10-slide pitch deck Legislate used to the raise the funds below. A startup that makes legal contracts much easier to draft, query, and sign has raised $3.6 million in fresh funds. Check out the 10-slide pitch deck Legislate used to raise the fresh funds below:
☆ BLOODBATH AVERTED: Inside the wild weekend that ended in Silicon Valley Bank UK selling for just $1
  + stars: | 2023-03-13 | by ( Callum Burroughs | Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com   time to read: +8 min
The sale means UK startups and investors will be able to access their money. Like its US parent, SVB UK mostly served tech startups and their investors. Insider understands from a person close to SVB UK that there is some internal frustration at the bank run. The feeling is that SVB UK was sold off simply because of groupthink. That evening, it looked feasible that the government would allow SVB UK to collapse.
☆ The panic around Silicon Valley Bank is spreading
  + stars: | 2023-03-10 | by ( Callum Burroughs | Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com   time to read: +4 min
At least 10 European VC funds have told their founders to pull funds out of Silicon Valley Bank. Silicon Valley Bank's woes spread overseas on Friday morning as tech investors in Europe followed their US peers and advised founders to pull their cash from the bank. The bank's shares plummeted 60% amid concerns among investors and founders about the safety of their cash. The bank has been a stalwart in the tech industry over the past 40 years, acting as a banking partner and investor for startups across the world. Castiglione said that UK funds were only "screwed" if Europe followed suit with the "US panic contagion."
☆ London fintech Griffin lands UK banking license with restrictions after years-long process as it eyes fresh funding in 2023
  + stars: | 2023-03-07 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +3 min
British fintech startup Griffin has secured a banking license after a years-long process. The Prudential Regulation Authority (PRA) has approved the startup, subject to restrictions. Banking-as-a-service startup Griffin has become the latest fintech to land a UK banking license with restrictions after a years-long process. Securing a UK banking license is no mean feat. Neobanks like Revolut, founded in 2015, haven't yet managed to get a UK banking license with stringent processes in place, with Jarvis suggesting that the application process isn't something "you can just throw money at."
☆ Tiger Global-backed $2 billion marketplace startup Ankorstore is set to become the latest tech unicorn to cut jobs, sources say
  + stars: | 2023-03-06 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +3 min
French retail marketplace startup Ankorstore is set to cut a significant amount of roles, sources said. The Tiger Global-backed company has raised 365 million euros (around $387 million) to date. It is the latest high-profile Tiger Global startup to slash jobs, following on from Stripe and Getir. Ankorstore, a $2 billion marketplace startup that counts US investing giant Tiger Global among its biggest backers, is set to cut a substantial amount of its workforce, sources say. Investment firm Tiger Global had been a major pandemic startup investor, with a particular uptick in European deals through 2021.
☆ Sequoia-backed fintech Pennylane is set to raise around $50 million in deal led by Revolut investor DST Global, sources say
  + stars: | 2023-03-02 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
French accounting tech startup Pennylane is set to raise around $50 million, Insider understands. The new round will be led by Revolut investor DST Global, four sources familiar with the deal said. The new funding is thought to be an up-round from the company's last deal in January 2022. Pennylane, a fintech that wants to become the predominant financial operating system for SMEs, is set to close a new funding round led by Revolut investor DST Global, sources say. The Paris-based company will raise around $50 million, two sources said.
☆ Revolut posted its first annual profit after missing multiple deadlines to release its financials
  + stars: | 2023-03-01 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +3 min
London-based fintech Revolut posted its first annual profit for the year ending 2021. Despite repeatedly missing reporting deadlines, Revolut could soon cinch a UK banking license. Revolut, the London-based fintech firm, has posted its first annual profit after missing multiple deadlines to release its financials. Revolut posted a net profit of £26.3 million ($31.8 million) for the full year 2021, according to its latest annual report. Revolut's annual profit makes it the second UK challenger bank to achieve profitability after London-based Starling Bank.
☆ This startup has developed an operating system for GPs that cuts down on admin. Check out the 13-slide pitch deck Doctorly used to raise $10 million.
  + stars: | 2023-03-01 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
German health tech startup Doctorly has raised $10 million in Series A funding. The startup, founded in 2018, offers practice management software for healthcare providers. A German health tech startup that has developed an operating system for medical practices has raised $10 million in fresh funds. The startup wants to "re-digitize" practices and make it easier for them to adapt to external innovations in health tech. Doctorly is one of the very few regulated health tech startups in Germany and it believes its technology can help cut the time spent by practitioners on administration in half.
☆ This SoftBank-backed startup that uses AI to draft legal documents just raised $10.5 million. Check out the 10-slide pitch deck Robin AI used to land the cash.
  + stars: | 2023-02-27 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
Robin AI, a legal tech startup that uses AI to read and negotiate contracts, has raised $10.5 million. A startup that uses AI to make legal contracts simpler to draft and negotiate has raised $10.5 million in fresh funding. London-based Robin AI, which counts SoftBank among its backers, was founded by former lawyer Richard Robinson and physics PhD James Clough. The startup uses machine learning to review and negotiate legal contracts through a software platform. The startup claimed to have grown its revenues 20x since its previous raise, a $3.3 million funding from SoftBank in December 2021.
☆ This SoftBank-backed startup that uses AI to draft legal documents just raised $10 million. Check out the 10-slide pitch deck Robin AI used to land the cash.
  + stars: | 2023-02-27 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
Robin AI, a legal tech startup that uses AI to read and negotiate contracts, has raised $10 million. A startup that uses AI to make legal contracts simpler to draft and negotiate has raised $10 million in fresh funding. London-based Robin AI, which counts SoftBank among its backers, was founded by former lawyer Richard Robinson and physics PhD James Clough. The startup uses machine learning to review and negotiate legal contracts through a software platform. The startup claimed to have grown its revenues 20x since its previous raise, a $3.3 million funding from SoftBank in December 2021.
☆ Aleph Alpha, a European rival to OpenAI, is in talks amid AI boom to raise up to $100 million in new funding, sources say
  + stars: | 2023-02-24 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
Generative-AI startup Aleph Alpha is in talks with investors over a new funding round, sources said. Aleph Alpha, a German generative AI startup, is in talks with investors over a new funding round, Insider has learned. Founded in 2019 by CEO Jonas Andrulis, a former machine-learning engineer at Apple, and Samuel Weinbach, Aleph Alpha researches and develops AI systems with a focus on enterprise customers. Aleph Alpha declined to comment. Aleph Alpha has a chatbot called Lumi which is built on top of its language-learning model Luminous.
☆ Investment banks approach Monzo over potential IPO as $4.5 billion fintech plots investing push, sources say
  + stars: | 2023-02-23 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +4 min
Investment banks have been in talks with Monzo over a future IPO, sources told Insider. The London-based fintech has also been in discussions to grow its wealth and investment offering. A number of leading investment banks have held initial talks with British fintech unicorn Monzo about a public listing that could take place as early as next year, sources say. Some investment banks have opted to cull teams of staff focused on M&A and stock issuance in recent months, most notably Goldman Sachs. The fintech has also been on the lookout for acquisitions and partnerships in the wealth and trading space, two sources told Insider.
☆ Europe's venture capital firms are facing a painful 2023 as some struggle to prove returns to LPs in bid to raise fresh capital
  + stars: | 2023-02-23 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +5 min
Some of Europe's venture capital firms are struggling to show returns on their investments. Europe's venture capital sector has enjoyed a booming run in recent years. Now, the dramatically changed economic landscape has left not only the startups facing a scarcity of available capital, but also the venture capital firms that fund them too. There are likely to be countless more who are also struggling to raise capital. For some smaller firms, the frothy days of 2021 are looking increasingly like a distant memory.
☆ This HR startup just raised $40 million in a round led by General Catalyst and Menlo Ventures. Check out the 12-slide pitch deck Finch used to raise the funds.
  + stars: | 2023-02-22 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
The startup's API works to collect employment data from fragmented sources for companies. Check out the 12-slide pitch deck Finch used to raise the Series B round. A startup that aims to streamline HR functions like onboarding and payroll has raised $40 million in fresh funds. San Francisco-based Finch, founded in 2020, provides APIs in a bid to simplify the fragmented world of employment data. The Series B funding round was led by General Catalyst and Menlo Ventures, who led Finch's Series A round in June 2022.
☆ Car financing fintech Carmoola just raised $125 million in a mix of debt and equity. Check out the 12-slide pitch deck it used to raise the fresh funds.
  + stars: | 2023-02-22 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +3 min
Car financing fintech Carmoola has raised $125 million in a mix of debt and equity. The London-based startup offers credit for used car purchases and incentivizes EVs. Car financing fintech Carmoola has raised $10.3 million in a Series A round led by QED Investors and a further $115 million in debt. The London-based startup, founded in 2022, employs a buy now, pay later approach to car financing by offering loans for used car purchases in the UK. A frustrating and expensive personal journey led to the former CEO of home rental company MoveBubble, moving into the car financing sector.
☆ This Binance-backed Web3 gaming startup just raised $5 million. Check out the 13-slide pitch deck Unagi used to raise the seed round.
  + stars: | 2023-02-17 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
French blockchain gaming company Unagi has raised $5 million in seed funding. French blockchain gaming startup Unagi has raised $5 million in seed funding as it looks to expand its offering. "It's been an interesting time with a lot of struggles for us as we arrived after the peak of the market," Guillemot, Unagi cofounder, told Insider. The $5 million fundraise was led by early-stage VC and game developer, Sisu Game Ventures. This latest fundraise, which follows a recent $4.3 million fundraise with Binance Labs, doubles the company's valuation to $37.2 million, Unagi said.
☆ Crypto protection and insurance startup Coincover just raised $30 million in fresh funds. Check out the 18-slide pitch deck it used to land the cash.
  + stars: | 2023-02-09 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
Cryptocurrency protection and insurance startup Coincover just raised $30 million in funding. Check out the 18-slide pitch deck it used to land the fresh capital below. A startup that offers protection to crypto users against issues like loss of access to their digital assets has raised $30 million in fresh funds. The deal takes Coincover to $41.6 million in funds raised to date. Check out the 18-slide pitch deck Coincover used to raise the funds below:
☆ Check out the 11-slide pitch deck Moonfare, a startup that lets high-net-worth individuals invest in private equity funds, used to raise a $15 million extension
  + stars: | 2023-02-08 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
German fintech Moonfare has raised $15 million in its second extension to its Series C round. We got an exclusive look at the 11-slide pitch deck Moonfare used to raise the fresh cash. Moonfare, a startup that grants access to private equity for retail investors, has raised $15 million in fresh funds. Moonfare raised $125 million in a Series C round in November from Shopify and Twitter-backer Insight Partners. Now, it has added another $15 million in an extension round led by from 7 Global Capital (7GC).
☆ Time series data startup InfluxData, used by Tesla and IBM, just raised $81 million in debt and equity with this 19-slide pitch deck
  + stars: | 2023-02-08 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
Time series data startup InfluxData has raised $81 million in debt and equity. We got an exclusive look at the 19-slide pitch deck InfluxData used to raise the fresh funds. A startup that provides time series data analytics for the likes of Tesla, Cisco, and IBM has raised $81 million in a mix of debt and equity. Time series data refers to information gathered from sources ranging from temperature sensors to high-frequency trading data. In addition, the company has brought in a $30 million debt facility from Silicon Valley Bank.
☆ This startup founded by a former Getir CTO enables users to hold stablecoins pegged to the US dollar. Check out the 11-slide pitch deck Cenoa used to raise $7 million.
  + stars: | 2023-02-06 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
Cenoa, a fintech startup cofounded by the former CTO of Getir, has raised $7 million in funding. The startup enables customers to access USDC, a digital asset tied to the US dollar. We got an exclusive look at the 11-slide pitch deck used to raise the fresh funds. A startup that has developed a digital wallet where users can hold a stablecoin pegged to the US dollar has raised $7 million in seed funding. In the UK, for example, Cenoa works with FCA-registered Transak so that users can deposit and withdraw funds using local banking networks.
☆ These are the 27 most exciting European fintech startups to watch in 2023, according to venture capitalists
  + stars: | 2023-02-01 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +1 min
Now, investors are placing a greater emphasis on startups in technical areas like FinOps. We asked 14 of Europe's top fintech investors to name the startups to watch in 2023. Investment in European fintechs fell to $23.3 billion last year, down from 2021's record-breaking $29.5 billion, according to PitchBook data, and closer to the total for 2019 and 2020. Different types of fintechs are also grabbing investor attention, with those operating in more niche, technical areas facing a brighter 2023. Here are 27 European fintechs to watch in 2023, according to some of the region's top investors.
☆ This startup building a compensation operating system for HR teams just raised $16.3 million. Here's the 14-slide pitch deck Coverflex used to raise the cash.
  + stars: | 2023-02-01 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
Portuguese compensation management startup Coverflex has raised $16.3 million in fresh funds. The startup enables workers to manage their own benefits and choose from perks like health insurance. We got an exclusive look at the 14-slide pitch deck Coverflex used to raise the new round. A startup that has developed a platform for companies to manage employee compensation and benefits in one place has raised $16.3 million in fresh funds. Coverflex claims its platform offers high tax advantages for employers and also enables HR teams to personalize which teams can access specific benefits.
☆ European software startup investor Notion Capital set to raise around $300 million for fifth and largest-ever fund, sources say
  + stars: | 2023-01-31 | by ( Callum Burroughs | Hasan Chowdhury | ) www.businessinsider.com   time to read: +2 min
European venture capital fund Notion Capital is set to raise its fifth fund, Insider understands. The London-based investor has secured around $300 million in commitments so far, sources say. European venture capital firm Notion Capital, which has backed companies like Currencycloud and GoCardless, is set to raise its fifth fund, sources say. Notion filed for its fifth fund in Luxembourg in February 2022. The fifth fund's commitments came in sizable chunks from LPs last year with around $200 million raised over the course of 2022, one London-based source said.
☆ Velocity Global, an HR startup backed by US billionaire Todd Boehly's investment fund, lays off 10% of its workforce
  + stars: | 2023-01-26 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +3 min
HR and remote work startup Velocity Global has laid off 10% of its workforce, Insider understands. The Denver-based company counts US billionaire Todd Boehly's Eldridge among its biggest backers. Velocity Global, an HR platform backed by US billionaire Todd Boehly's investment fund, has laid off over a tenth of its workforce. The cuts at Velocity come as part of a wave of wider layoffs in the tech sector and a cooling off in the HR and remote work sector. HR companies enjoyed a pandemic boom through 2020 and 2021 as firms began experimenting with hybrid work, requiring new processes and platforms.
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