Latest news with #Dealroom
Telegraph
3 days ago
- Business
- Telegraph
London was once the tech capital of Europe. Where did it all go wrong?
Baroness Helena Morrissey DBE is a City 'superwoman' who, among other senior roles, ran Newton Investment Management for 15 years while supporting a family of 11. She also founded the 30 Percent Club, which seeks to bring more women on to company boards. London is no longer Europe's tech capital. Paris has taken that title, coming in fourth in the league table of the world's top technology centres, while London has slipped to sixth, according to Dealroom's 2025 report. Both are flanked by American cities. This shift signals a troubling loss of momentum, and is underscored by KPMG data showing UK fintech investment at a four-year low in 2024 – $9.9bn (£7.3bn) compared with 2021's spike of $48.1bn. For years, London led Europe's fintech boom. Fuelled by world-class developers, creative talent and a deep venture capital market that consistently funded innovative start-ups, the City fostered a vibrant tech ecosystem. Shoreditch, London's start-up destination of choice, became synonymous with fintech and new agile ways of working. The proof of success? London's tally of 125 tech unicorns – companies valued at $1bn or more – far outpacing Paris (53) and Munich (17). Yet past success guarantees nothing. Dealroom's data reveals a stark contrast: 'total funding growth' for technology companies based in Paris is up nearly 24pc over the past four years and a whopping 60pc for Austin, Texas – but London has seen a 7pc decline. Where has it all gone wrong? As a country we have taken our eye off the ball when it comes to creating an attractive environment for start-ups and scale-ups – just as others have raised their game. In 2015, I was a member of the UK's Financial Services and Trade Investment Board (FSTIB), a partnership between government and industry formed by George Osborne, the then chancellor, to help propel high-growth areas. Fintech was a top priority, with five key ingredients identified to maintain the UK's attractiveness: supportive regulation, plentiful investment, global connections, top talent and integration with other financial and professional services. However, FSTIB was disbanded in 2019 and, while trade bodies have been doing what they can, no one has been pulling it all together – a challenge exacerbated by the frequent change of leaders in government. As a result, our early advantage has slipped away. Revolut, a fintech star, offers a perfect – if depressing – case study. Founded in 2015, the digital bank was valued at $45bn last August, making it Europe's most valuable private technology company, but it took three years for Revolut to secure a UK banking licence.
NDTV
21-05-2025
- Business
- NDTV
Paris Beats London As Europe's Leading Tech Ecosystem
Stockholm: Paris has been named as the new European tech champion, beating London for the first time on some metrics, according to data from Dealroom, which collects information on startups and venture capital firms. Between 2017 and 2024, the combined enterprise value of Paris startups increased 5.3 times, compared with 4.2 times for London, Dealroom said, after assessing dozens of metrics that contribute to a successful tech ecosystem. Although London attracted bigger funding rounds, the actual valuations of the companies have not increased dramatically, while the funding rounds secured by Paris-based companies have had a bigger impact on valuations, it said. French tech companies, including Mistral AI and Poolside, raised $7.8 billion last year, less than London's $11.3 billion. Europe has been falling behind other regions in tech innovations, with only some countries trying to boost tech investments. While the market capitalisation of global tech, media and telecom companies rose from $7 trillion in 2000 to $34 trillion last year, Europe's share dropped from 30 per cent to just 7 per cent, a McKinsey report said on Wednesday. If Europe had maintained its share, it would have generated an additional $8 trillion in market value, it said. Paris is also the only European city on Dealroom's top five global champions list, which is dominated by U.S. cities. It comes a month ahead of Paris hosting one of the largest global tech conferences, VivaTech, featuring top executives from companies such as Nvidia, Alibaba, Meta, OpenAI, Mistral, Anthropic and Cohere. Last year's conference was attended by more than 165,000 people. "It's not just about the competitiveness of Paris on the AI scene today, it's also about what will happen next and how we can keep on attracting the talent, investment, and the tech activities," Francois Bitouzet, managing director of VivaTech, told Reuters. Since coming to power in 2017, French President Emmanuel Macron has talked about wanting France to be a world leader in AI and 'deep-tech', inviting several firms to invest in the country and pushing for creation of startup incubator Station F.
Bloomberg
21-05-2025
- Business
- Bloomberg
Lagos Startups Lure 42% More Funding, Defying Slowdown in Africa
Startups in Nigeria's commercial hub of Lagos attracted 42% more investment last year, as the presence of businesses such as Flutterwave Inc. and Interswitch Ltd. showcased the city's appeal as a hub for new enterprises. Companies in Lagos raised $252 million last year, up from $178 million in 2023, according to the Netherlands-based research firm
Time of India
21-05-2025
- Business
- Time of India
Paris named as Europe's leading tech ecosystem, beating London
By Supantha Mukherjee STOCKHOLM: Paris has been named as the new European tech champion , beating London for the first time on some metrics, according to data from Dealroom, which collects information on startups and venture capital firms. Between 2017 and 2024, the combined enterprise value of Paris startups increased 5.3 times, compared with 4.2 times for London, Dealroom said, after assessing dozens of metrics that contribute to a successful tech ecosystem . Although London attracted bigger funding rounds, the actual valuations of the companies have not increased dramatically, while the funding rounds secured by Paris-based companies have had a bigger impact on valuations, it said. French tech companies, including Mistral AI and Poolside, raised $7.8 billion last year, less than London's $11.3 billion. Europe has been falling behind other regions in tech innovations, with only some countries trying to boost tech investments. While the market capitalisation of global tech, media and telecom companies rose from $7 trillion in 2000 to $34 trillion last year, Europe's share dropped from 30% to just 7%, a McKinsey report said on Wednesday. If Europe had maintained its share, it would have generated an additional $8 trillion in market value, it said. Paris is also the only European city on Dealroom's top five global champions list, which is dominated by U.S. cities. It comes a month ahead of Paris hosting one of the largest global tech conferences, VivaTech, featuring top executives from companies such as Nvidia, Alibaba, Meta , OpenAI, Mistral, Anthropic and Cohere. Last year's conference was attended by more than 165,000 people. "It's not just about the competitiveness of Paris on the AI scene today, it's also about what will happen next and how we can keep on attracting the talent, investment, and the tech activities," Francois Bitouzet, managing director of VivaTech, told Reuters. Since coming to power in 2017, French President Emmanuel Macron has talked about wanting France to be a world leader in AI and 'deep-tech', inviting several firms to invest in the country and pushing for creation of startup incubator Station F.
Yahoo
21-05-2025
- Business
- Yahoo
Paris named as Europe's leading tech ecosystem, beating London
By Supantha Mukherjee STOCKHOLM (Reuters) -Paris has been named as the new European tech champion, beating London for the first time on some metrics, according to data from Dealroom, which collects information on startups and venture capital firms. Between 2017 and 2024, the combined enterprise value of Paris startups increased 5.3 times, compared with 4.2 times for London, Dealroom said, after assessing dozens of metrics that contribute to a successful tech ecosystem. Although London attracted bigger funding rounds, the actual valuations of the companies have not increased dramatically, while the funding rounds secured by Paris-based companies have had a bigger impact on valuations, it said. French tech companies, including Mistral AI and Poolside, raised $7.8 billion last year, less than London's $11.3 billion. Europe has been falling behind other regions in tech innovations, with only some countries trying to boost tech investments. While the market capitalisation of global tech, media and telecom companies rose from $7 trillion in 2000 to $34 trillion last year, Europe's share dropped from 30% to just 7%, a McKinsey report said on Wednesday. If Europe had maintained its share, it would have generated an additional $8 trillion in market value, it said. Paris is also the only European city on Dealroom's top five global champions list, which is dominated by U.S. cities. It comes a month ahead of Paris hosting one of the largest global tech conferences, VivaTech, featuring top executives from companies such as Nvidia, Alibaba, Meta, OpenAI, Mistral, Anthropic and Cohere. Last year's conference was attended by more than 165,000 people. "It's not just about the competitiveness of Paris on the AI scene today, it's also about what will happen next and how we can keep on attracting the talent, investment, and the tech activities," Francois Bitouzet, managing director of VivaTech, told Reuters. Since coming to power in 2017, French President Emmanuel Macron has talked about wanting France to be a world leader in AI and 'deep-tech', inviting several firms to invest in the country and pushing for creation of startup incubator Station F.
