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There was more unsettling news for customers of e-bike company VanMoof at the end of last week, as we'll get into in a moment. Also on the agenda today:

• Why is Europe's secondaries market so sluggish?
• What are the mistakes to avoid on a YC application?
• And which are the startups to watch in the Netherlands?

VanMoof stores shut across Europe

Less than two weeks after Dutch e-bike company VanMoof was declared bankrupt in the Netherlands, its London store in Battersea has been repossessed by landlords.

Elsewhere in Europe, the lights have gone out at VanMoof stores in the Netherlands, Paris and a number of cities in Germany, leaving many customers in the dark about the future of their $4,000 bikes.

Sifted understands that VanMoof customers with bikes at the London store haven't received any communication from the company about the repossession. Word has instead been spreading via word of mouth and on social media.

• “VanMoof have done nothing to help," says one customer, who only found out about the repossession after a stranger messaged him online. 

So what happens now?

• A piece of paper stuck in the shop window in London says customers have until 5pm on August 3 to claim their bikes.
• If they don't, the landlords “intend to sell the goods or otherwise dispose of them in an appropriate manner without further notice”.

Universal sustainability ratings and intelligence solution EcoVadis has a number of roles open in Berlin — from general manager to senior solution architect.

📉 Regtech funding on the up? If investment keeps pace with the first half of the year then the sector is on track to raise more capital in 2023 than any year apart from 2021. While Sifted tracked only 12 fundraising rounds in H1 2023 — against 25 for the same period in 2022 and 30 for 2021 — startups are convincing VCs to part with substantial cheques. Head to our latest Briefing to find out more, including the most active investors, promising early-stage startups and trends to watch. (Exclusively for subscribers) 

💰 The price still isn't right for most European VC secondaries. Despite the funding cooldown, activity in secondaries — where investors buy startup shares from early stakeholders who want to cash out — is still sluggish, as founders remain wary of making their companies look wobbly.

🤯 Want to get into Y Combinator? Here are 5 things to avoid on your application.

🎓 Improving the spinout process. As the UK's spinout community eagerly awaits a government-commissioned industry review, the Entrepreneurs' Network has released its own report outlining what the country needs to do to nurture startups spinning out from universities. 

🎧 "If you’re not sleeping, the last thing you want is an Oura ring." In the latest episode of the Sifted Podcast we dig into portfolio wellness programmes at VCs, and find out why some founders are sceptical. Amy and Eleanor also discuss troubles at Getir and VanMoof, and an exodus from the Eurazeo growth fund team.

📝 "The whole point of an EVP is that it represents your company to respective hires," says Molly Johnson-Jones, cofounder and CEO at flexible jobs site Flexa. From internal surveys to yearly reviews, she shares her top tips on nailing down an employer value proposition.

📉 The realities of the downturn. "Last quarter, we had to write off a $150k investment with on paper a 25x multiple on invested capital. We had to write off another one today," said head of super-active French seed investor Kima Ventures, Jean de La Rochebrochard, in a refreshingly candid — and foreboding — tweet. 

The startups VCs have their eyes on in...

🇳🇱 The Netherlands

🇮🇹 Italy

🇵🇹 Portugal
🇪🇸 Spain

🌍 CEE

🇫🇷 France

Ready to turn your startup dreams into reality? This Sifted Talks will reveal top tips for securing the funding round you need.

(Want to brush up on your Series A knowledge beforehand? Read Sifted's Series A explainer article.)

Kai Nicol-Schwarz

Reporter

Get in touch with him at

kai@sifted.eu

He tweets from 

@NicolSchwarzK

Tom Nugent

Digital Editor

Get in touch with him at

tom@sifted.eu

He tweets from

@TJNugent92

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