Sifted - Monzo gets a new CEO 💥

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 Funding 

 

What’s happened to the angels?


Venture capital investment into European startups is slowing down. Funding rounds in Europe dropped by 22% in March, according to Dealroom, and valuations are down by 10-40%.

But what’s going on with the somewhat less vocal angel investors? Have they closed their cheque books — or are they seizing the opportunity to get in on some good deals?

Amy Lewin speaks to angels across Europe to find out.

🎈 Are you improving people’s quality of life? 🎈

 

Do you want to test and launch your solution with an international partner? The Ageas INsure Open Innovation Program is offering to fund your proof of concept — and, if it’s successful, help you scale up internationally.

Calling startups working on the future of healthcare, tech for insurance or wellbeing.

Find out more and apply here. [Sponsored post]

 Fintech 

 

A new CEO at hyped fintech Monzo


Tom Blomfield is stepping down as chief executive of the UK challenger bank he founded in 2015 to take on a new role as President. 

Blomfield explained the move by saying it would allow him to focus more on what he loved — community and product — and allow new CEO and experienced banker TS Anil to take on the more nitty-gritty regulatory challenges.

The news also raised a bigger question: when does it stop making sense for a founder to be CEO?

 Micromobility 

 

The big moment for bikes


If you're thinking of emerging from lockdown and jumping straight into your car, please think again.

In Wuhan car trips have almost doubled post-lockdown and car sales are skyrocketing.

Let's not allow that to happen in European cities, says Emily Brooke from bike startup Beryl. Here's why we should claim back the streets from the cars.

 Fintech 

 

Abandoning your home market


It’s a difficult decision to abandon your home market, but that’s exactly what Berlin-based startup Finiata has done, closing its commercial operations in Germany.

Now after a decade, the company is moving to Poland.

Kit Gillet finds out why.

🏙️ EIT Digital Challenge 2020 | Digital Cities 🏙️

 

It’s your opportunity to connect with high profile corporates and investors to grow internationally — whether your startup is in smart mobility, urban development or environmental management.

Don’t miss out, apply now[Sponsored post]

News that matters

 

😱 Funding for seed-stage UK startups has fallen by more than 80% in the lockdown. Isabel Woodford takes a look at the brutal new data from Beauhurst.

🏘️ Amsterdam-based employee communications platform Happeo has raised $12m at a time when there is more demand than ever for tools to help manage remote workforces. The funding comes just a week after competitor Workvivo raised $16m.

🍲 Portuguese dark kitchen startup Kitch has announced a €1m pre-seed round. For more on future of delivery-first kitchens and delivery startups generally, download our deep-dive report on the topic here.

💸 Any founder looking to apply for the UK government's £500m Future Fund to help startups struck by the coronavirus lockdown better be quick. According to Sky News, the fund received applications for more than £450m on its first day of operation. For more on how to apply, see here

Salesforce Architect, Pollen, Remote
General Manager Borrowing, Monzo Bank, London
Social Media Specialist, Cleo AI, London
Analytics Developer, White Hat, London

Check out our jobs board if you are looking for a job in fintech or product.

Sifted Suggests 


🤔 A diversity disaster? There are (justified) concerns that the UK's Future Fund will mostly benefit white, male, London-based founders and investors. We asked the Treasury what it's doing to avoid that, and here's what it said.

👶 A nice "what I would tell my younger self" essay from the cofounder of Lingumi. One smart piece of advice for founders is: product-market fit is not a solution, it is an iterative process.

🇫🇷 Saul Klein from LocalGlobe talks to Paris startup hub Station F: “There will be a lot of investment activity in the coming months,” he says.

💀 It’s time to recognise that fintech as a movement has evolved. It’s the new normal and no longer defined by challengers but by category leaders. Fintech is dead. Long live fintech.

Sifted resources

Michael Stothard
Editor


Get in touch with him at michael@sifted.eu.
He loves to know what we could be doing better.
Follow the whole Sifted team for news and views: 
@MStothard@amyrlewin@maijapalmer@i_woodford, @Marie_a_Paris@KitGillet@timmpsmith, @connorbilboe@MimiBilling@kittygknowles@johnthornhillft
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Marketing with no money, in a pandemic 🏋️

Wednesday, May 20, 2020

Future Fund application tips | Remote mentoring tips | Company retreats with a twist Sifted is the FT-backed media site telling the untold stories of European tech. Subscribe here. Startup Life Post-

Monzo's 40% valuation drop 😬

Monday, May 18, 2020

Clubhouse copycats | Wearables to keep coworkers away | Common early-stage founder mistakes Sifted is the FT-backed media site telling the untold stories of European tech. Subscribe here. Fundraising

Why tech still doesn't understand periods 🩸

Friday, May 15, 2020

Contact tracing apps won't work | Robot Covid-19 cleaners | How to unlock lockdown Sifted is the FT-backed media site telling the untold stories of European tech. Subscribe here. Opinion Why is

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Revolut hype | Virtual events | Women in fintech Fintech Europe's female fintech leaders to watch Struggling to think of many women in top positions at fintech? You're not the only one — gender

Digital banks struggle across the pond 🇺🇸

Friday, May 8, 2020

Future Fund battle | Talent relocation made easy | Dodgy investors Sifted is the FT-backed media site telling the untold stories of European tech. Subscribe here. Investment How to avoid cowboy

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