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Hi Sifted reader,

On the pod this week Amy and Eleanor sit down to dissect the latest startup news, including digital bank Starling's impressive revenue results and Maria Raga's departure from secondhand clothes app Depop. Listen here!

Meanwhile on the website we get into the minds of Gen Z founders to understand what they really want from investors...

Plus:

• Brunch with LocalGlobe's Saul Klein

• How much are COOs paid?

• Europe's rising proptechs

— Sophie, writer & Amy, deputy editor

Saul Klein, cofounder of LocalGlobe — one of Europe's most successful VC firms — isn’t one for following the brief.

For his "brunch" with Sifted, he skips the meal and instead takes editor Amy on a walking tour of north London. They chat The Sopranos, being turned off by the Silicon Valley mindset and why he cares about being a good neighbour.

Read it all here.

Juggling an endless range of tasks, from managing finance to building company culture, chief operating officers play the role of Robin to the CEO’s Batman.

But how much do COOs earn — and what kind of equity do they get? Sifted delved into data collected by community platform COO Stories to find out.

Here’s what the data told us.

Last year was a record one for European proptechs, with VCs investing €3.8bn in the sector, a 350% increase on 2020.

So what’s suddenly so sexy about real estate? Sifted spoke to four VCs to get the inside scoop.

These are the proptechs you should be keeping an eye on.

It’s not all ancient ruins and sandy beaches — is Greece fast becoming a go-to destination for tech? Our latest report explores the success stories and predictions for the Greek startup ecosystem, highlighting where there’s room for improvement.

See what’s trending.

Gen Z are known for being digital natives, socially progressive and deeply concerned about the Earth’s future. But how does this affect Gen Z founders’ relationship with VCs?

From wanting investors who match their sense of ethics to going for moonshot ideas, they're keen to do what’s right for them and the planet. 

Here’s how Gen Z founders differ from older generations.

💸 Digital bank Qonto buys competitor Penta. In an effort to become the leading small business bank in Germany, the French unicorn has announced plans to acquire German fintech Penta. Qonto has a solid customer base of over 250k clients across France, Germany, Italy and Spain, and Penta will help it cement its position in Germany, its fastest-growing market in 2021. 

💬 Charles raises $20m Series A. The round was led by Salesforce Ventures, with participation from Accel and HV Capital. The Berlin-based startup is hoping to use the new round of funding to bring Latin America’s conversational commerce craze to Europe. Charles’s SaaS platform provides businesses with the tools to sell products through chat apps such as WhatsApp. The company already boasts over 100 software customers and plans to expand into Italy, Spain, France, the Netherlands and the UK.

📝 Fonoa raises a $60m Series B. The Dublin-based platform founded by three ex-Uber staff helps companies calculate their tax bills in different jurisdictions, with big names like Uber and Zoom on its client list. In the latest round, Fonoa raised funds from VC firms such as Coatue, Dawn Capital and Index Ventures. The company plans to use this new funding to continue its global expansion, improve existing services and develop new products.

🩺 Kry raises $160m Series D follow-on. Backed by P Capital Partners and Teachers’ Venture Growth, the Swedish telehealth scaleup aims to use this new funding to expand into new care segments, such as mental health and women’s health. The majority of its revenue comes through partnerships with public health bodies. But the path ahead isn't an easy one: earlier this year, the scaleup laid off 100 non-clinical staff to extend runway.

🏦 Starling posts first annual profit as revenues rise 93%. The London-based digital bank reported a pre-tax profit of £32.1m for the 12 months up to March 31, 2022, with revenues surging to £188m. The latest news has consolidated the company’s position as one of the UK’s largest online banks, while other fintechs  struggle to make a profit. CEO Anne Boden has spoken of potentially aiming for an IPO in 2023 or 2024.

🧠 Unobravo raises €17m Series A. The latest round was led by US-based Insight Partners. The Napoli-based therapist platform connects patients with mental health experts, using an algorithm linked to the patient’s questionnaire answers as well as providing a platform for therapists to coordinate and host their sessions. It hopes to expand across Europe and plans to develop and release new products, such as a mobile app and note-taking tools. 

👩‍💼 Maria Raga steps down as Depop CEO. She’ll be replaced by Kruti Patel Goyal, the current chief product officer at Etsy, which acquired Depop last year for $1.6bn. Raga explained that she wanted to “take a break and spend more time with my family” in a LinkedIn post. Depop, which allows users to sell and buy secondhand clothes, is a top Gen Z digital destination.  

🤔 Gen Z are energetic, curious and willing to learn – so what’s the best way to attract Gen Z tech talent?

🌐 Making international payments is notoriously difficult, costly and inefficient, so what’s holding us back? (Sponsored by Banking Circle.)

Sophie Zhang

Editorial Assistant

Get in touch with them at sophiezhang@sifted.eu

Amy Lewin

Editor 

Get in touch with her at amy@sifted.eu
Or tweeting at @amyrlewin

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