European startup scene keeps on growing

The European startup scene has been so active in the past decades. During the pandemic, the creativity and flexibility of entrepreneurs has been vital to finding solutions to societal problems. Many innovations have come to market quickly and will continue to have an impact far beyond the crisis.

A lot of European cities are helping their startups to succeed, but City of London is at the top of the list when talking about the number of startups and the number and size of funding rounds. Some of the fintech giants that have shaken up financial services are based in London, such as Revolut and Wise (ex TransferWise). A successful story of Karma Kitchen startup should also be mentioned – they wanted to raise £3 million in funding to open new sites around Europe and ended up with £252 million!

Paris has seen impressive growth in funding over recent years. Like London, the French capital is nowadays especially strong in fintech and they see Brexit as an opportunity to compete for the title of European fintech capital.

They also care about diversity – Femmes Business Angels in Paris is making a difference when talking about this matter, with around 150 women personally investing and supporting early startups with high potential.

The capital of Germany, Berlin is one of the world’s most vibrant and energetic startup centres. It attracts international talents who want to change the world through their ideas. For that matter, coworking spaces are very popular in the German capital. One of the most famous Berlin startup is E-scooters company TIER which launched in 2018 and now, they provide 60,000 scooters across 80 cities in ten countries.

The City of Madrid is one of only seven cities globally to have a Google startup campus. It’s also home to a number of unicorn companies such as ride-hailing app Cabify and rental homes company Spotahome, which are valued at more than $1 billion.

Stockholm is home to a thriving tech scene that has helped Sweden rank first globally for capital invested in startups per capita. The city is home to the Action Against Corona initiative that supports startups that can help fight the pandemic or its social effects.

When talking about Warsaw, we must mention Experior Venture Fund – Europe’s first venture capital (VC) fund set up and managed by women. Kinga Stanislawska, cofounder of Experior Venture Fund also established European Women in VC to help increase female representation across the continent.

 

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