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OCTOBER 31, 2022

Hello Sifted reader,

This week, we're talking profits — and the unicorns that aren't making any. Sifted rang around the 20 biggest unicorns in Europe to see how many of them were in the black, and the results aren't too pretty. Read on to find out just how many are still nursing losses.

Tim Smith and Amy O'Brien are both heading to Web Summit in Lisbon this week — along with literally everyone else who's ever uttered the word "tech", by the looks of it. Keen to chat? Click their pink names to drop them a line.

Also from the Sifted newsroom:

• How term sheets are changing

• 67 startups backed by the UK's Future Fund have gone bust

📈 Only three of Europe’s most valuable scaleups are profitable. Of the region's 20 most valuable unicorns, just money transfer company Zepz, lending platform Lendable and neobank Revolut are in the black, Sifted has found. But as markets continue to put pressure on tech, will we see more double down on a path to profitability in the future? Here's what those companies told us.

A MESSAGE FROM OUR SPONSOR TRUELAYER

Our latest mythbusting video, in partnership with TrueLayer, exposes the truth behind unused subscriptions. With the cost of living continuing to rise, how can companies keep their subscribers active as well as loyal?

📝 As the tech market shakes, term sheets are changing. After the  founder-friendly days of 2021, term sheets are beginning to skew back in the favour of investors. Here's how founders can avoid getting screwed over in the current climate.

💥 67 UK Future Fund-backed businesses have gone bust. The government fund, which was launched as part of an economic support package during the pandemic, invested $1.14bn in 1,190 high-growth businesses. But not every bet it's made has paid off. Here are some of the most high-profile winners and losers.

🎙️ Lessons from an Atomico, SoftBank and EQT growth investor. Carolina Brochado hopped on Startup Europe — The Sifted Podcast to speak to deputy editor Eleanor in a brand new, once-a-month format of the show. They discussed the war for talent, public market volatility and a whole lot more. Not really one for podcasts? We've got you covered with this writeup of the conversation.

🌎 The Global Boardroom. Join the Financial Times' award-winning digital conference on December 7-9 debating strategies for sustainable growth in a world of geopolitical and economic disruption. Get your free ticket here or use code SIFTED for 10% off a Professional Pass.

💸 Is financial inclusivity the key to business growth? A collaborative payments ecosystem can be a force for economic stability — but some markets are difficult to reach. So what’s the solution? Join the discussion on November 9.

🔎 Radical transparency: in practice. Radical transparency is becoming a greater priority for startups — but what are the operational practicalities of being fully honest? Join us on November 23 to find out.

🌳 Beyond the unicorn obsession: Three Nordic scaleups that scale impact. There’s been a unicorn boom across Europe in the last few years, but some startups are chasing the $1bn milestone in a different way — by going after profit and impact. Sifted chatted to three of these mission-driven startups, about why they’ve bet on impact — and how that’s paid off. (Sponsored by Norselab.)

Kai Nicol-Schwarz

Reporter

Get in touch with him at

kai@sifted.eu

He tweets from 

@NicolSchwarzK

Amy Lewin

Editor

Get in touch with her at

amy@sifted.eu

She tweets from

@amyrlewin

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