Aiven
Helsinki, Finland · StartupManaged open source data infrastructure powering PostgreSQL, Kafka, and Elastic in the cloud.
StartupSeries CInfrastructureCloud
Directory
European startups, investors, and accelerators
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Ajax Systems
Kyiv, Ukraine · StartupOverview: Ajax Systems is a leading security technology startup and is now the largest manufacturer of professional security systems in Europe. The company develops and produces a range of smart security devices for homes and businesses - including wireless motion detectors, door/window opening sensors, glass break sensors, fire alarms, flood detectors, and control panels - all connected via Ajax's proprietary radio communication technology. An Ajax security system typically centers around a smart hub and can integrate over 50 different sensors and sirens to provide comprehensive intrusion detection, fire safety, and even smart home automation. The devices are known for their sleek design (winning multiple Red Dot design awards) and reliable performance (long battery life, extended wireless range, resistant to jamming). Users manage the system through Ajax's mobile app, receiving instant alerts and being able to arm/disarm or monitor their property from anywhere. Unlike traditional wired security systems, Ajax's wireless approach allows easy installation and scalability. With its combination of hardware and software, Ajax Systems has effectively become a security platform protecting over 1 million premises in more than 120 countries. Founding Story (2011): Ajax Systems was founded in 2011 in Kyiv, Ukraine by Oleksandr (Alexander) Konotopskyi. Konotopskyi started Ajax in his mid-20s, with a vision to build a security system that was both high-quality and affordable, targeting a gap in the market between cheap unreliable alarms and overly expensive Western systems. In the early days, Ajax was literally a garage startup - the team of engineers hand-soldered the first devices themselves. They focused initially on creating a car alarm and simple motion detectors, but soon pivoted fully to smart home security. The name "Ajax" was chosen to signify agility and strength (after the Greek hero). The company struggled to find capital at first, as Ukraine in 2011 had limited VC presence. In 2015, Ajax got its first external investment of $1M from SMRK, a local fund run by MacPaw's CEO, which allowed scaling production. A major milestone was around 2016 when Ajax launched its second-generation system with the Jeweller radio technology and a polished mobile app - this got attention in European markets. By 2017, Ajax started exporting its devices beyond Ukraine, and a turning point came when it won a prestigious security industry award in the UK, helping build global credibility. The founding story is one of persistence: Konotopskyi has often recounted how many advised him that manufacturing electronics in Ukraine was impractical, but he proved it possible with a highly motivated local team. Product and Innovation: Ajax's product line today includes about 180 products covering intrusion detection (motion, opening, glass break sensors), fire safety (smoke and CO detectors, fire alarm), flood prevention (leak detectors), plus sirens, keypads, panic buttons, and relay modules to control third-party devices. The system connects via radio frequencies (868 MHz band in Europe, etc.) with range up to 2000 meters and has advanced encryption. One of Ajax's innovation points is its proprietary OS Malevich that runs the hubs, enabling over-the-air updates and new features. The Ajax mobile app provides a modern UX that was missing in older alarm systems. Another innovative aspect is battery life - sensors can work 5-7 years on one battery, addressing a pain point of wireless security. Ajax also built a technology called Wings for photo verification - some motion detectors have cameras that can send photos when triggered, so users and alarm companies see if an intruder is present. The target market for Ajax includes both residential customers and small businesses/shops, as well as larger commercial clients (they have a heavier-duty hub for enterprise). The systems are typically sold and installed via a network of 1,100+ authorized security providers/installers globally, rather than direct to consumer only. This channel strategy helped Ajax penetrate traditional security markets in Europe, Asia, and beyond. Traction and Scale: The growth of Ajax Systems has been remarkable, especially post-2015. As of late 2023, Ajax serves over 4 million end users worldwide who rely on its security systems. It has become the top alarm system brand in Europe by units sold - a feat for a Ukrainian company competing with legacy giants. The company's revenue reflects this: in 2023, Ajax's revenue was around UAH 7.5-8.5 billion (Ukrainian hryvnia), roughly $200+ million USD, showing rapid growth from just a few million USD a decade prior. It's been profitable and reinvesting in expansion, now running multiple manufacturing plants. Ajax exports to over 120 countries, with key markets including Italy, Spain, France, the UK, and also growth in the Middle East and Latin America. In Ukraine, Ajax became a market leader, protecting many homes even amid the war. The company's workforce grew to around 2,500 employees (by 2025) spread across R&D centers in Kyiv, hardware development in Kharkiv, and manufacturing facilities in Ukraine and a new plant in Turkey (opened 2022) and recently in Vietnam (opened 2025 to diversify production). These expansions are partly in response to risk management due to regional instability, but also to meet surging global demand. Ajax's products have received numerous awards in the security industry and technology circles for innovation. Funding and Investors: Ajax's funding journey started with local investors. The initial $1M from SMRK in 2015 and early revenues got the company off the ground. A significant boost came in 2019 when Horizon Capital, a U.S.-Ukrainian private equity firm, invested $10 million for a minority stake. This effectively was Ajax's Series A, and it valued the company north of $70M reportedly. Horizon's investment provided growth capital to scale production and international sales. Interestingly, Ajax never took traditional Silicon Valley VC funding; by the time it was on VC radar, it was already profitable and scaling via PE style funding. EBRD also extended some debt financing to Ajax as it expanded manufacturing. Total external funding is relatively modest (about $11M equity and some debt), as the company's strong revenue allowed it to fuel growth internally. PitchBook data shows Ajax's valuation surpassed $100M by 2020, and given the revenue growth, some speculated it could approach unicorn status if valued on a typical tech multiple (though security hardware might have lower multiples). Achievements and Impact: Ajax Systems stands out as one of the most successful hardware startups from Eastern Europe. Achievements include becoming the number 1 security system brand in Europe within 10 years, something even the founder calls "building the Apple of security in Ukraine." The products have achieved a level of reliability that professional security companies trust - over 1,200 security companies (alarm response centers) around the world integrate with Ajax's system to provide monitoring services. Ajax's impact in Ukraine is also profound: it built local manufacturing when many said it was impossible, created thousands of jobs, and became one of Ukraine's top tech exporters. Even during the 2022 Russian invasion, Ajax kept its factories in Ukraine running (with precautions and relocating some lines to safer regions) and supported the war effort by developing an "Air Alarm" app for Ukrainians (in partnership with the government) to warn of missile attacks. This app uses Ajax's expertise in instant mass notification and became a widely used tool, saving lives. Ajax's success has been a beacon for Ukraine's tech industry, proving that a hardware company can scale globally from Ukraine. In recognition, founder Konotopskyi received national awards and is often cited among top Ukrainian entrepreneurs. The company's plans include possibly an IPO in the future once global expansion stabilizes. It continues to innovate - recent new products include automation devices (to control lights, thermostats, etc., moving Ajax towards smart home, not just security). By coupling security with convenience, Ajax is carving out a role in the broader IoT and smart home market. In summary, Ajax Systems transformed from a Kyiv startup into a global security powerhouse, all while keeping its R&D and much of its production in Ukraine, which is a testament to the talent and resilience of Ukrainian engineers and business leaders. Sources: inventure.com.ua, euristiq.com, techukraine.org, ajax.systems.
StartupGrowthSecurityIoTHardwareSmart Home
Alan
Paris, France · StartupModern health insurance platform streamlining getting care for European employees.
StartupGrowthHealthSoftware
Allset
Kyiv, Ukraine · StartupOverview: Allset is a food-tech startup that provides a platform for online restaurant ordering and pickup. Originally launched as a dine-in pre-ordering app, Allset allows customers to pre-order meals at restaurants so that the food is ready at a scheduled time and they can "skip the line". Over time, Allset expanded to enable standard takeout orders, curbside pickups, and even contactless dine-in where you arrive and your meal is served immediately. The convenience factor is central: Allset's app lets users browse menus of partner restaurants, pay in advance (including tip), and streamline the eating experience without waiting. For restaurants, Allset offers a marketplace to attract busy professionals and on-the-go diners, while avoiding the high fees of delivery services. By focusing on pickup and in-restaurant efficiency, Allset positioned itself as a lower-cost alternative to delivery apps for eateries, promising no couriers or delivery logistics - just seamless pickup transactions. As of 2021, Allset had thousands of restaurant partners, particularly in major U.S. cities, and had broadened its use-case to also support contactless dining during the COVID-19 pandemic. Founding Story (2015): Allset was founded in 2015 by two Ukrainians, Stas Matviyenko (Stan) and Anna Polishchuk, who moved to California to grow the business. The founders previously built a mobile payments startup in Ukraine (Settle), which gave them insight into restaurant payment pain points. They noticed that busy professionals often have limited lunch break time and that waiting for service at restaurants ate up much of it. Thus, Allset was conceived to let users pre-order and pre-pay for meals so they could "set" everything in advance and have all set when they arrive (hence the name). The concept started with a few restaurants in San Francisco and New York participating. Early growth was modest as it required signing up restaurants one-by-one and changing consumer habits. However, by offering a win-win - restaurants get more turnover at lunch with guaranteed orders, customers get time savings - Allset steadily gained traction. Matviyenko and Polishchuk leveraged their Ukrainian tech team to build the app cost-effectively. In 2016, they got into the 500 Startups accelerator, which provided seed funding and mentorship in Silicon Valley. By 2017-2018, Allset expanded to multiple U.S. cities and refined its model to also include standard takeout ordering. Product and Market: Allset's target users were urban professionals and corporate employees looking for efficient lunch options. It integrated with over 7,000 restaurants in the U.S. and also some in Ukraine by 2023. Cuisine-wise it was diverse - from fast-casual chains to local eateries. The platform's business model charges restaurants a commission per order, but it touted itself as having significantly lower fees than delivery apps like UberEats or DoorDash. This is because pickup orders do not involve logistics costs. Allset also at times charged consumers small convenience fees or offered a subscription for zero fees. Its competition includes not just the big delivery apps, but also restaurant reservation systems and point-of-sale providers who have added mobile ordering. However, Allset carved a niche in "order ahead for dine-in/pickup." During COVID-19, Allset quickly shifted focus to contactless pickup and curbside service, which aligned with public health needs. The app usage grew as more consumers opted for takeout and avoiding crowds. Post-pandemic, Allset continued to be relevant as many users, accustomed to mobile ordering, kept using it for efficiency. Traction: By the early 2020s, Allset had facilitated tens of millions of orders. It was particularly popular in cities like New York, Los Angeles, Chicago, and Houston. The app had over 2 million users and a strong repeat usage among its core demographic (e.g., office workers who would use it daily for lunch). Allset's restaurant network grew to include national chains as well as local favorites. A reported figure from around 2021 indicated nearly 7,000 restaurant partners across the US and Ukraine, illustrating its significant network. Partnerships with large chains (for example, they onboarded Panera Bread in some regions) helped validate the concept. In terms of scale, Allset's gross merchandise volume (the total value of orders through the platform) reached eight figures in USD annually. Press coverage often highlighted Allset as a rising star in the on-demand dining space, and it received awards like being listed in Forbes' 30 Under 30 (Matviyenko was honored in 2018). Funding and Investors: Allset attracted a mix of Silicon Valley and Ukrainian investors through its journey. Early on, it raised a $3.35M combined seed (including a $1M pre-seed from SMRK, a Ukrainian VC). In 2018, Allset secured an $8.25M Series A, with investors like Greycroft, Andreessen Horowitz (a16z), VK (Digital Garage), and SMRK participating. This round helped fuel its expansion to new cities. By 2020, Allset had raised a total of about $16.6M in funding. A notable investor, Andreessen Horowitz, gave credibility given their prominence. Additionally, the EBRD (European Bank for Reconstruction and Development) co-invested in Allset, a nod to its Ukrainian roots and growth potential. The company was relatively capital-efficient, using a distributed team in Kyiv for development while its sales team signed restaurants in the U.S. According to PitchBook, Allset's valuation was healthy, though it never reached unicorn status. Acquisition by SoundHound (2024): A major milestone came in June 2024, when SoundHound AI, a Nasdaq-listed voice AI company, announced it had acquired Allset. The deal amount was undisclosed, but it marked a successful exit for the founders and investors. SoundHound's interest was in combining Allset's marketplace and restaurant partnerships with SoundHound's voice assistant tech for ordering (they have a voice ordering system used by restaurants). Through this acquisition, Allset's team (Matviyenko and Polishchuk) and technology joined SoundHound, aiming to power voice-enabled food ordering across SoundHound's large client network. The acquisition can be seen as a strategic fit: Allset brings the restaurant relationships and order workflow, while SoundHound brings cutting-edge voice AI. Allset's co-founders took on roles within SoundHound's leadership to continue growing this combined vision. For the Ukrainian startup scene, Allset's acquisition was a proud moment - a startup founded by Ukrainians achieved a notable exit on the global stage. Achievements and Impact: Allset's journey demonstrated the strength of Ukrainian entrepreneurs in the global arena of food tech. The company managed to enter the ultra-competitive U.S. food app market and carve a space for itself. It was recognized as one of Ukraine's top startups in multiple rankings. The company's growth also had a direct impact: it provided business to restaurants (especially small ones) by bringing them customers who might not have come in otherwise. Its focus on reducing wait times resonated with modern consumers' demand for convenience. Notably, Allset survived and adapted through the pandemic - offering features like dine-in ordering via QR code to minimize contact. This nimbleness likely made it an attractive acquisition target. Allset also set an example of transatlantic collaboration: R&D in Ukraine, business development in the U.S., which is a model other Ukrainian startups have since followed. Post-acquisition, the Allset app and brand continue to operate, now with the backing of SoundHound. With voice technology integration, a future use case might be ordering meals by simply speaking to your car or smart device, which could be the next level of convenience Allset helps enable. For Anna Polishchuk and Stas Matviyenko, their success with Allset has cemented them as influential figures in Ukraine's startup community, often mentoring younger founders and investing in new startups. Sources: vestbee.com, kyivpost.com, vcnewsdaily.com.
StartupGrowthFoodTechMarketplaceHospitalityMobile
Amber Therapeutics
Oxford, United Kingdom · StartupMedtech spin-out developing implantable neuromodulation devices to treat pelvic and nervous system disorders.
StartupGrowthHealthtechMedical Devices
Be My Eyes
Aarhus, Denmark · StartupBe My Eyes is a Danish accessibility platform that connects blind and low vision users with sighted volunteers and company support teams through live video calls. Founded in 2015 by Hans Jorgen Wiberg, the app created a global community of millions of volunteers who provide real time visual assistance. The company later added enterprise support partnerships and AI powered visual descriptions. Be My Eyes is a leading example of Danish tech for social impact.
StartupGrowthAccessibilitySocial ImpactAI
BetterMe
Kyiv, Ukraine · StartupOverview: BetterMe is a health and wellness tech company that offers a suite of mobile apps focused on fitness, nutrition, and mental well-being. It provides users with personalized workout plans, meal plans, and lifestyle advice to help them lose weight, get fit, or improve their overall health. BetterMe's flagship app, often just called "BetterMe: Health Coaching," includes features such as short video workouts, diet tracking, and educational content. The company also launched a BetterMe: Mental Health app for meditation and stress reduction, reflecting a holistic approach to wellness. Uniquely, BetterMe tailors its programs to individuals using quizzes and data, making the experience feel custom - for example, a user can indicate their goals and preferences and receive a workout routine and diet plan suited to them. The apps are gamified and use a lot of motivational psychology (for instance, sending encouraging notifications, or featuring success stories) to keep users engaged. BetterMe operates on a freemium model: users can access some content for free but need a subscription to unlock full personalized plans and coaching. With an affordable subscription, it undercuts many traditional weight loss programs, contributing to its massive global user adoption. Founding Story (2016/2017): BetterMe was founded in 2017 in Kyiv, Ukraine by Viktoria Repa, a young woman from a family that struggled with obesity. Viktoria's personal journey - she managed to lose weight despite being told it was hopeless - inspired her to help others do the same using smartphone technology. She joined Genesis, a Ukrainian tech incubator, where she developed the idea for BetterMe. With an initial $5 million support from Genesis Investments to kickstart the project, BetterMe launched its first product focusing on exercise plans. Early traction came via viral content on social media; Viktoria's team leveraged platforms like Facebook and Instagram to attract users with catchy fitness challenges and transformation stories. By late 2017, BetterMe's app reached the top charts in the Health and Fitness category on the App Store in multiple countries. The company smartly expanded into adjacent categories: adding a meal planning app, then merging them into one comprehensive platform. Repa, as a first-time founder, was notable for bootstrapping growth (outside of the initial Genesis funding) - she reinvested revenue from the app back into marketing rather than seeking huge VC rounds. This lean approach allowed BetterMe to scale rapidly without dilution or external pressure, and by focusing on revenue early, it achieved profitability within a couple of years. Product and Target Market: BetterMe's target market is primarily women aged 25-45 worldwide looking to improve fitness or lose weight, though it has users of all genders and ages. The app's content covers home workouts (no equipment needed routines, HIIT, yoga, etc.), diet (with thousands of recipes and even grocery lists), and mental health (meditation, self-love coaching). By bundling these, BetterMe positions itself as an all-in-one "personal coach in your pocket." The product stands out for localization - it offers content in multiple languages and adapts to cultural preferences (for example, meal plans will consider local cuisines). The company also sells BetterMe-branded sportswear and merchandise, tapping into the aspirational lifestyle brand angle. One of BetterMe's innovations was leveraging viral marketing: its social media team produced simple before-and-after animations and relatable memes that drew tens of millions of views. This organic reach translated into app installs at low cost. The app itself capitalized on trends like short 7-minute workouts and challenges (e.g., 28-day weight loss challenge), which kept users engaged daily. With the onset of COVID-19 in 2020, BetterMe saw a surge as people turned to home fitness solutions, and the company responded by launching live workout sessions and more mental health resources. Traction and Users: BetterMe's growth has been explosive. As of 2022, BetterMe had over 110 million users worldwide - an astonishing figure that outpaced many competitors like Strava or Headspace in raw user count. The app consistently ranks among the top health and fitness apps in the U.S., Europe, and developing markets. The company achieved $80 million in annual revenue by 2022, all while remaining profitable. This revenue is largely subscription-driven, demonstrating a strong conversion of free users to paid plans. BetterMe's user base is global: major markets include the U.S. (which often accounts for 30-40% of revenue), Europe, Latin America, and also parts of Asia where affordable fitness coaching is in demand. The app has high ratings on app stores and has been downloaded well over 150 million times cumulatively. BetterMe's team grew to around 200 people by 2022, scaling to support content creation (new exercises, recipes, etc.), customer support, and continuous app development. An important aspect of BetterMe's traction is retention - many users report that the combination of physical and mental health guidance in one place keeps them using it long-term, as opposed to fad diet apps that get uninstalled. Funding and Business Model: Interestingly, BetterMe has been largely bootstrapped after the initial funding. Founder Viktoria Repa raised about $5M from Genesis (which is more of an internal investment from the incubator) and did not seek major external VC rounds afterwards. She cited the relatively underdeveloped VC landscape in Ukraine as one reason, but also the fact that BetterMe was generating enough cash to fuel its growth organically. By avoiding dilution, Repa retained control and the company focused on sustainable growth. The business model is straightforward: subscription revenue from the apps (monthly or annual plans) and some e-commerce sales of merchandise. With tens of millions of users, even a small percentage subscribing translated to substantial income. By 2023, the company was reportedly exploring opportunities for external funding or strategic partnerships to develop new products (like potentially telehealth or personalized coaching services). If it were to raise funds, given its scale and profitability, BetterMe could likely command a very high valuation (some industry observers speculated it could be Ukraine's next unicorn). Achievements and Recognition: BetterMe's success has brought significant recognition. Viktoria Repa, as a young female CEO, was featured in Forbes 30 Under 30 Europe in 2019. Sifted.eu (FT's tech publication) ran a story on how she built a global health app from Ukraine with $80M revenue in 5 years. BetterMe's apps frequently top the "most downloaded" charts, and in 2021 Apple highlighted BetterMe in its App Store success stories. Another achievement: during the war in Ukraine, BetterMe made its apps free for all Ukrainian users to help people cope with stress and stay healthy at home. The company donated a portion of its profits to the Ukrainian army and charities, and even released Ukraine flag-themed workout gear to raise funds. This stance boosted its image as a socially responsible brand. BetterMe also claims that it has helped millions of people collectively lose over 1,000,000 kilograms of weight (per internal metrics), showcasing real-world impact. User testimonials often mention life-changing health improvements, which BetterMe uses (with permission) in its marketing. The company's next milestones include expanding into more holistic healthcare - possibly adding features like consultations with trainers or nutritionists, and integrating wearable data for more personalization. Overall, BetterMe illustrates how a Ukrainian startup identified a massive global need - accessible health improvement - and executed with digital savvy to become one of the world's most popular wellness platforms. It stands as a symbol of Ukraine's emerging strength in consumer tech and the power of combining tech with personal passion to solve widespread problems. Sources: sifted.eu.
StartupGrowthHealthWellnessMobileSubscription
Bitpanda
Vienna, Austria · StartupRetail investing platform offering cryptocurrencies, stocks, ETFs, and precious metals with fractional trades.
StartupGrowthFintechInvesting
BlaBlaCar
Paris, France · StartupBlaBlaCar is the world’s leading long-distance carpooling platform, often hailed as France’s flagship startup success. Founded in 2006 by Frédéric Mazzella (along with Francis Nappez and Nicolas Brusson), BlaBlaCar was born from Mazzella’s realization that countless car journeys had empty seats. The platform (named after users’ self-described chattyness level – “Bla”, “BlaBla”, or “BlaBlaBla”) connects drivers with spare seats to passengers traveling the same way, so they can share the ride and costs. Today, BlaBlaCar has a 100 million-member community across 22+ countries, serving over 25 million travelers per quarter pre-pandemic. It operates in most of Europe and parts of Latin America and Asia, having successfully localized carpooling in markets like Germany, Russia, Brazil, and Turkey. The company also branched into bus travel: in 2018, BlaBlaCar acquired Ouibus from SNCF, rebranding it BlaBlaBus, to offer intercity bus routes alongside carpool rides. BlaBlaCar’s business model charges a roughly 10–20% booking fee from passengers in mature markets, though in new markets it often launches free to build liquidity. Known for its strong community culture, BlaBlaCar emphasizes trust – it introduced verified profiles, ratings, and even an optional “Ladies Only” carpool option. The company achieved unicorn status in 2015 when it raised $200 million at a $1.6 billion valuation and later was valued around $2 billion. Despite the pandemic’s impact on travel, BlaBlaCar rebounded by 2022, even reporting profitability. In 2023, it raised €100 million in financing to fuel growth. BlaBlaCar is often cited in case studies (Harvard, etc.) as a pioneer of the sharing economy in Europe, proving that a people-powered platform can transform intercity transport. By bringing cost-effective travel to millions and fostering new friendships on the road, BlaBlaCar has truly brought “ridesharing” into the mainstream – and stands as one of Europe’s few consumer-tech unicorns with global reach.
StartupGrowthMobilityMarketplace
Bolt
Tallinn, Estonia · StartupEuropean mobility platform covering ride-hailing, micromobility, and food delivery.
StartupGrowthMobilityMarketplace
bunq
Amsterdam, Netherlands · StartupMobile-first bank that lets individuals and businesses control accounts, cards, and payments.
StartupGrowthFintechBanking
Cazoo
London, United Kingdom · StartupOnline marketplace that simplifies buying, financing, and swapping nearly-new cars in Europe.
StartupGrowthMobilityConsumer
Celonis
Munich, Germany · StartupCelonis is a Munich and New York-based enterprise software company that pioneered the field of process mining – technology that analyzes a company’s IT event logs to visualize and optimize its business processes. Founded in 2011 by three friends (Alexander Rinke, Bastian Nominacher, and Martin Klenk) out of university in Munich, Celonis bootstrapped in its early years and landed Siemens as a key pilot customer for its process analytics tool. The software proved invaluable in identifying inefficiencies in processes like order-to-cash, procurement, and inventory management. By 2015 Celonis was the leader in this niche, and it partnered with SAP which resold Celonis as SAP Process Mining by Celonis. Venture capital soon followed: Celonis raised $27.5M in 2016 (Series A) then $50M in 2018 (Series B). Its growth was massive – from €1M ARR in 2012 to well over €100M by late 2010s. In 2019, Celonis raised $290M at a $2.5B valuation, making it a unicorn. It wasn’t done: by June 2021, Celonis announced a $1B Series D round valuing it at $11 billion, one of Europe’s largest software funding rounds. And in 2022, Celonis reportedly reached a $13B+ valuation, firmly cementing it among Europe’s most valuable private tech companies. The company’s product evolved into the Celonis Execution Management System (EMS), which not only discovers processes but also suggests and implements improvements (sometimes via RPA bots or triggering workflows). Celonis counts thousands of enterprise customers – including Siemens, BMW, Coca-Cola, Uber – and its software helps them save billions by cutting throughput times, reducing errors, and optimizing resource use. With dual HQs in Munich and New York, Celonis has aggressively expanded in the U.S., competing with companies like IBM’s process mining. The firm is also eyeing an IPO; CEO Rinke has mentioned that Celonis is positioning itself for a public listing when market conditions are right. In the meantime, Celonis keeps growing (estimated $400M+ ARR in 2023) and acquiring smaller tech startups to bolster its platform. Celonis epitomizes the success of enterprise software from Europe – deeply technical, essentially creating a new category, and achieving decacorn status within a decade.
StartupGrowthSoftwareData
Chainalysis
Copenhagen, Denmark · StartupChainalysis was co-founded in 2014 by Danish entrepreneur Michael Gronager to bring transparency to crypto markets. The company builds blockchain analytics software used by exchanges, regulators, and law enforcement to trace illicit activity and manage compliance risk. Chainalysis grew into a global leader in crypto intelligence, raised major rounds, and built offices worldwide while keeping a Danish engineering footprint. It is one of the most valuable companies with Danish founding roots in the blockchain sector.
StartupGrowthBlockchainComplianceFintech
Climeworks
Zurich, Switzerland · StartupClimeworks is a Swiss climate tech pioneer specializing in direct air capture (DAC) of CO₂ – essentially technology to filter carbon dioxide directly out of the atmosphere. Founded in 2009 as a spin-off from ETH Zürich by engineers Jan Wurzbacher and Christoph Gebald, Climeworks has the distinction of building the world’s first commercial DAC plants. Its modular CO₂ collectors use a special filter that binds CO₂ when air passes through, then releases pure CO₂ when heated, allowing it to be captured and stored or reused. In 2017 Climeworks opened a prototype DAC plant in Iceland in partnership with Carbfix, where captured CO₂ is injected underground and mineralized into rock. By 2021, they launched “Orca” in Iceland – the largest DAC plant at the time – able to remove 4,000 tons of CO₂ per year, selling carbon removal as a service to corporate clients like Stripe, Microsoft and Shopify. Climeworks gained widespread attention as the first DAC unicorn: in April 2022 it raised $650M in an equity round (Europe’s largest-ever climate tech funding) at a valuation reportedly around $2 billion. Investors include Carbon Removal Partners and Big Oil venture arms, reflecting broad interest in negative emissions tech. As of 2025, Climeworks is scaling up “Mammoth,” a 36,000 tCO₂/yr plant in Iceland, and planning multi-megaton facilities by 2030. The EU and US policy push for carbon removal (with 45Q tax credits, etc.) strongly benefits Climeworks. The company also sells captured CO₂ for reuse in drinks and agriculture (a smaller market) and operates demonstration units in countries like Switzerland and Italy. With global climate goals increasingly reliant on carbon removal, Climeworks is positioned as a leader in an emerging industry. It touts a goal of removing 1% of global CO₂ emissions by 2050. While challenges remain (DAC is energy-intensive and currently expensive, around $600/ton), Climeworks has achieved real progress – turning sci-fi into reality. Its name comes up frequently in climate policy discussions, and it was highlighted at COP26 as an example of scalable climate innovation. In summary, Climeworks is a trailblazer in direct air capture, turning a bold lab idea into the world’s first commercial carbon removal service, putting Zurich on the climate tech map.
StartupGrowthClimateCleanTech
Cradle
Amsterdam, Netherlands · StartupGenerative protein design platform helping scientists engineer new vaccines, therapeutics, and materials.
StartupGrowthBiotechAI
DeepL
Cologne, Germany · StartupDeepL is a Cologne-based AI translation company founded in 2017 by CEO Jarosław Kutylowski. Renowned for its neural machine translation quality, DeepL quickly surpassed competitors in accuracy and nuance. The company’s cloud platform serves over 100,000 business and government customers worldwide, including enterprises like Zendesk and Deutsche Bahn. DeepL achieved unicorn status in 2023 with a €1 billion valuation and continued to grow explosively – by early 2025 it had raised $410 million (led by investors like Index Ventures and Atomico) and reached a $2 billion valuation. In late 2025, reports emerged that DeepL is considering an IPO amid surging revenue, which doubled year-on-year to $185 million in 2024. DeepL’s core product is an AI-driven translator supporting 30+ languages, used for real-time document and content translation. The firm also launched DeepL Write to improve monolingual writing and an AI Agent to automate business tasks. As of 2025, DeepL is recognized as one of Europe’s premier AI startups, combining cutting-edge NLP research with a fast-growing SaaS business. The company’s success – valued at $2 billion and poised for a public offering – underscores Europe’s strength in deep-tech innovation.
StartupGrowthAISoftware
Dixa
Copenhagen, Denmark · StartupDixa is a Danish customer engagement platform that unifies phone, email, chat, and messaging into one support workspace. Founded in 2015, Dixa emphasizes a relationship driven approach called Customer Friendship and helps digital first brands manage omnichannel support at scale. The company expanded across Europe and the United States, raised large funding rounds, and acquired knowledge base and conversational AI products to broaden its suite. Dixa is a notable Copenhagen based SaaS scale up.
StartupGrowthCustomer ExperienceSaaS
DocPlanner
Warsaw, Poland · StartupOnline healthcare marketplace and practice management SaaS connecting patients with doctors and clinics.
StartupLate StageHealthtechMarketplace
Dream Games
Istanbul, Turkey · StartupMobile gaming studio behind Royal Match, building polished, high-grossing casual puzzle titles.
StartupLate StageGamingMobile
Einride
Stockholm, Sweden · StartupAutonomous electric freight company operating driverless Pods and software to decarbonize logistics.
StartupGrowthMobilityLogistics
ElevenLabs
London, United Kingdom · StartupAI voice synthesis platform creating realistic multilingual speech for dubbing, audiobooks, and virtual agents.
StartupGrowthAIAudio
Exotec
Lille, France · StartupWarehouse robotics company whose Skypod system uses fleets of robots to automate order fulfillment.
StartupLate StageRoboticsLogistics
Flix
Munich, Germany · StartupLong-distance mobility network operating intercity buses and trains across Europe.
StartupGrowthMobilityConsumer
Flowtly
Warsaw, Poland · StartupAI-enabled business management platform combining ERP, HR, finance, and projects for SMBs.
StartupEarly StageEnterprise SoftwareAI
GetYourGuide
Berlin, Germany · StartupExperiential travel marketplace curating tours, attractions, and local guides across Europe.
StartupGrowthTravelMarketplace
Glovo
Barcelona, Spain · StartupOn-demand delivery super-app for food, groceries, and courier services across Southern and Eastern Europe.
StartupLate StageOn-DemandLogistics
Grammarly
Kyiv, Ukraine · StartupAI-powered writing assistant offering grammar, clarity, and tone suggestions across browsers, apps, and keyboards, with freemium and enterprise plans.
StartupGrowthAIProductivityEdTechSaaS
Helsing
Munich, Germany · StartupDefense AI company creating mission software and autonomous drone systems for European armed forces.
StartupGrowthDefenseAI
Hopin
London, United Kingdom · StartupVirtual and hybrid event platform enabling immersive conferences, expos, and town halls.
StartupGrowthEventsSoftware
Infarm
Berlin, Germany · StartupModular vertical farming network bringing fresh, low-footprint produce into urban retail and hospitality.
StartupGrowthAgriTechClimate
Isar Aerospace
Munich, Germany · StartupSpace launch company developing cost-efficient small and medium-lift rockets to give Europe independent access to orbit.
StartupGrowthSpaceAerospace
Just Eat
Kolding, Denmark · StartupJust Eat began in Kolding in 2001 as one of the first online takeaway ordering marketplaces in Europe. After early traction in Denmark, the company relocated to London and expanded aggressively across Europe and beyond through acquisitions and country launches. Just Eat listed on the London Stock Exchange in 2014 and later merged with Takeaway.com, forming one of the largest food delivery groups globally. The company is a defining example of a Danish startup scaling into a multi-billion euro public business.
StartupGrowthMarketplaceFood DeliveryE-commerce
Klarna
Stockholm, Sweden · StartupKlarna is a Swedish fintech company that pioneered the “buy now, pay later” (BNPL) model globally. Founded in 2005 by Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson, Klarna started by offering online shoppers in Sweden a way to purchase goods on invoice (pay after delivery). Over the next decade, the company expanded across Europe and beyond, becoming a dominant online payments provider. As of 2021, Klarna was Europe’s highest-valued private tech company at $45.6 billion, reflecting meteoric growth fueled by consumers’ appetite for installment payments. Klarna’s app and services allow users to split purchases into interest-free installments or pay later, and it partners with over 450,000 retailers worldwide, including global brands like H&M, IKEA, and Nike. The company has over 150 million users across 45 countries and handled $80 billion in transaction volume in 2021. Klarna’s journey, however, has seen dramatic swings: after reaching a $45B valuation in mid-2021, a combination of rising interest rates and tech market downturn led to a downround in 2022, cutting its valuation to $6.7 billion (an 85% drop). The company restructured, laying off 10% of its staff, and refocused on profitability. By 2023, Klarna returned to profit and saw renewed growth, aided by expanding beyond BNPL into a full shopping app with price comparison, loyalty features, and banking services (Klarna obtained a banking license in Europe in 2017). In 2025, Klarna reportedly delayed an IPO amid market volatility but ultimately went public in September 2025, raising $1.37 billion. Despite valuation fluctuations, Klarna remains the global leader in BNPL, with a strong brand among Gen Z and millennial shoppers. Its journey from a small Stockholm startup to a financial giant serving 65 million customers (2025) at one point valued at $75 billion exemplifies the rise (and resiliency) of Europe’s fintech sector.
StartupLate StageFintechPayments
Labster
Copenhagen, Denmark · StartupLabster builds virtual laboratory simulations for science education, letting students run experiments in a 3D environment and learn through interactive missions. Founded by researchers from the Technical University of Denmark, Labster works with universities and schools worldwide to expand access to lab learning and reduce costs. The platform integrates with learning management systems and has been used by hundreds of institutions. Labster became a global reference for VR and simulation based STEM education.
StartupGrowthEdtechVRSTEM
Lilium
Munich, Germany · StartupElectric vertical takeoff and landing jets designed to unlock zero-emission regional air travel.
StartupGrowthAerospaceMobility
Lovable
Stockholm, Sweden · StartupAI-powered no-code builder that turns natural language prompts into working web and mobile apps.
StartupEarly StageAIDeveloper Tools
Luko
Paris, France · StartupHome insurance startup focusing on prevention, fast claims, and digital-first service.
StartupSeries CInsurtechConsumer
Lunar
Aarhus, Denmark · StartupLunar is a Danish digital bank founded in Aarhus in 2015 to deliver a mobile first banking experience for consumers and small businesses. After starting as a fintech app layered on partner infrastructure, Lunar secured its own banking license in 2019 and expanded across the Nordics. The app offers current accounts, cards, budgeting tools, business banking, and investment features, positioning Lunar as a regional challenger bank. The company has raised major funding rounds and remains a prominent Nordic fintech.
StartupGrowthFintechBanking
Mambu
Berlin, Germany · StartupComposable banking platform letting digital lenders and neobanks launch services quickly.
StartupGrowthFintechSoftware
Mistral AI
Paris, France · StartupOpen and commercial large language models built in Europe for developers and enterprises.
StartupGrowthAIInfrastructure
Mollie
Amsterdam, Netherlands · StartupPayments infrastructure provider helping EU businesses accept local and global methods.
StartupGrowthPaymentsFintech
Monumental
Eindhoven, Netherlands · StartupConstruction robotics company building agile bricklaying robots that automate urban infill projects.
StartupGrowthRoboticsConstruction Tech
Neko Health
Stockholm, Sweden · StartupPreventive health company offering AI-assisted full-body scanning clinics for early detection of risks.
StartupGrowthHealthtechDiagnostics
Northvolt
Stockholm, Sweden · StartupNorthvolt was a Swedish battery developer and manufacturer founded in 2016 by former Tesla executives Peter Carlsson and Paolo Cerruti. It aimed to build Europe’s first homegrown lithium-ion gigafactories to supply electric vehicle batteries at scale. Northvolt quickly became Europe’s cleantech darling – it secured over $15 billion in funding from investors like Volkswagen (which took a 20% stake), Goldman Sachs, BMW, and the European Investment Bank. By 2021, Northvolt built its flagship factory in Skellefteå, Sweden (Northvolt Ett) and announced over $55 billion in orders from automakers including Volkswagen, BMW, Volvo, and Polestar. At its peak, Northvolt reached a valuation of $12 billion and was seen as Europe’s best hope against the Asian battery giants CATL, LG Chem, and Panasonic. The company’s progress was significant: it produced its first battery cell in late 2021 and began deliveries in 2022. However, behind the scenes, Northvolt struggled with the immense capital expenditures and operational complexities of scaling battery production. By late 2024, it had accumulated over $5.8 billion in debt and was burning ~$100 million per month, while its factory ran at only 5% capacity due to equipment installation delays and safety issues. In November 2024, Northvolt filed for Chapter 11 bankruptcy protection in the U.S., and on March 12, 2025, it filed for bankruptcy in Sweden, marking the largest industrial bankruptcy in modern Swedish history. The collapse was dramatic – once valued at $12B, Northvolt’s assets were later acquired by US startup Lyten for pennies on the dollar in 2026. Investigations revealed mismanagement: thousands of unopened equipment crates worth €430M were found on-site and a critical €2B BMW contract was lost after Northvolt fell two years behind schedule. Despite its failure, Northvolt’s ambition wasn’t in vain; it spurred the European Commission to launch the European Battery Alliance and rival startups (like France’s Verkor) to push forward. Northvolt’s story is a cautionary tale of euphoria and risk in cleantech – a venture that raised unprecedented funding and $50B in orders to put Europe on the battery map, only to crumble under execution challenges and debt.
StartupGrowthClimateIndustrial
Nothing
London, United Kingdom · StartupDesign-led consumer electronics brand behind transparent Android smartphones and earbuds.
StartupGrowthConsumer ElectronicsHardware
Ochre Bio
Oxford, United Kingdom · StartupBiotech company using AI and genomics to develop RNA therapies targeting chronic liver disease.
StartupGrowthBiotechHealth
Orbital Materials
London, United Kingdom · StartupAI-driven materials discovery company designing carbon-capture sorbents and cooling materials for clean energy.
StartupEarly StageAIClimate Tech
Pennylane
Paris, France · StartupAccounting and financial management platform that unifies bookkeeping, invoicing, and payments for SMEs.
StartupGrowthFintechAccounting
Personio
Munich, Germany · StartupPersonio is a Munich-based HR software company that has become one of Europe’s most valuable SaaS startups. Founded in 2015 by Hanno Renner (CEO) and three co-founders from the Technical University of Munich, Personio set out to streamline HR management for small and mid-sized businesses. Its cloud platform offers an “all-in-one” suite – from recruiting and applicant tracking to payroll, attendance, and performance management. Personio’s focus on Europe’s underserved SME segment paid off spectacularly: as of 2024, the company serves 12,000+ customers across 70 countries (primarily firms with 10–2,000 employees). This rapid growth attracted major VC funding. Personio became a unicorn in January 2021 with a $1.7 billion valuation, and by October 2022 it raised a $200 million Series E extension at a staggering $8.5 billion valuation – making it one of Europe’s most valuable private tech companies at the time. Investors like Index Ventures, Accel, Lightspeed, and Greenoaks have backed Personio. The company has since expanded to 8 offices (including London, Dublin and Amsterdam) and grown to about 2,000 employees. Despite the size, Personio continues to post strong metrics: in 2023, revenue reportedly doubled and the firm reached over 15,000 customers by 2025. Personio’s success is often attributed to its user-friendly, modular platform tailored to non-technical HR teams at smaller companies. It integrates with 100+ other business tools and emphasizes automation of routine HR tasks. Now valued at $8.5 billion+, Personio is widely seen as a future IPO candidate and a role model for Europe’s B2B SaaS boom – proving that an “SMB HR” niche can scale to a global category leader.
StartupGrowthHR TechSoftware
Pigment
Paris, France · StartupBusiness planning platform offering collaborative budgeting, forecasting, and scenario modeling.
StartupGrowthAnalyticsEnterprise Software
Pitch
Berlin, Germany · StartupCollaborative presentation platform built for modern teams rolling out investor decks and roadmaps.
StartupGrowthProductivitySaaS
Pleo
Copenhagen, Denmark · StartupPleo is a company spend platform that issues smart cards, automates expense reporting, and gives finance teams real time visibility into employee spending. Founded in 2015 by Jeppe Rindom and Niccolo Perra, Pleo scaled across Europe with a product that blends payment cards, receipt capture, approvals, and accounting integrations. The company has raised multiple large rounds and reached unicorn status while serving tens of thousands of businesses. Pleo remains one of Denmark's most visible fintech success stories.
StartupGrowthFintechExpense Management
Podimo
Copenhagen, Denmark · StartupPodimo is a Copenhagen founded subscription platform for podcasts and audiobooks, focused on local language content and creator revenue sharing. Launched in 2019, the company built exclusive catalogs in markets such as Denmark, Germany, Spain, and the Netherlands, and later expanded to Latin America. Podimo uses a subscription model that pays creators based on listen time, giving podcasters an alternative to advertising. The company has raised significant funding to scale its content studio and international footprint.
StartupGrowthMediaSubscriptionAudio
Poolside
Paris, France · StartupAI research company aiming to build autonomous code-generating systems for future software development.
StartupGrowthAIDeveloper Tools
Quantexa
London, United Kingdom · StartupDecision intelligence platform that links enterprise data to fight fraud, manage risk, and deepen customer analytics.
StartupGrowthAIAnalytics
Quantum Systems
Gilching, Germany · StartupManufacturer of autonomous fixed-wing VTOL drones used for battlefield reconnaissance and intelligence.
StartupGrowthAerospaceDefense
Respeecher
Kyiv, Ukraine · StartupOverview: Respeecher is a cutting-edge AI voice synthesis startup that enables one person's voice to be transformed into the voice of another specific person, with uncanny realism. In other words, it's known for its voice cloning technology. Respeecher's system takes in an actor or user's speech and outputs audio that sounds like a target voice - be it a famous actor, a historical figure, or anyone for whom it has trained a model. This technology has huge applications in entertainment: filmmakers can revive voices of actors from years past, game developers can have characters speak in iconic voices, and creators can produce content where, say, a celebrity appears to narrate (with permission). What makes Respeecher stand out is the high fidelity of the cloned voices - they are nearly indistinguishable from the real person, capturing emotion and intonation accurately. Respeecher provides its tech via a software interface; typically, a voice model is trained on recordings of the target voice, and then a voice actor provides performance which is converted. Importantly, Respeecher emphasizes ethical use: it requires consent from the voice owners and has gained a reputation for an "ethics-first" approach in the emerging synthetic media field. Founding Story (2018): Respeecher was founded in February 2018 in Kyiv, Ukraine by Alex Serdiuk, Dmytro Bielievtsov, and Grant Reaber. Serdiuk and Bielievtsov are Ukrainian, and Reaber is an American speech technologist - the trio met through mutual research interests in speech processing. They realized that recent advances in deep learning could make high-quality voice conversion possible, and they set out to create a system far beyond the rudimentary voice changers of the past. In 2018-2019, they went through the Comcast NBCUniversal LIFT Labs Accelerator (powered by Techstars) in the US, which gave them industry connections. Early on, Respeecher got a lucky break: it was approached to work on a high-profile but secret project - which turned out to be Lucasfilm's The Mandalorian (Season 2 finale in 2020). The task was to recreate the voice of a young Luke Skywalker as he would have sounded in the 1980s, using Mark Hamill's old recordings. Respeecher delivered successfully, astonishing Hollywood sound engineers. This successful debut put Respeecher on the map in the film industry. In subsequent months, they also worked on a Super Bowl commercial voicing Vince Lombardi (AI-cloned from archival audio). The Ukrainian team, working under NDA, built these groundbreaking demos which then led to word-of-mouth referrals in Hollywood. Product and Use Cases: Respeecher's core product is delivered as a service to content creators. A client provides audio of the target voice (e.g., recordings of a person) and Respeecher trains a custom voice model. Then the client (often a voice actor or the person themselves) provides the new dialogue, which Respeecher's system converts into the target's voice. One notable use case was the documentary short film "In Event of Moon Disaster" - Respeecher recreated President Nixon's voice to simulate him reading a speech that was written in case Apollo 11 failed, and this project won an Emmy Award in 2021 for Outstanding Interactive Media (Respeecher's team was credited for the voice work). Another big use case: Darth Vader's voice in 2022's Obi-Wan Kenobi series - James Earl Jones, aged 91, could no longer perform with the same power, so Lucasfilm used Respeecher to generate Vader's lines using Jones' archival voice data. This was done with Jones's consent (he effectively authorized the AI recreation of his iconic voice). The result was so good that audiences thought Jones had recorded the lines himself. Outside of film/TV, Respeecher has been used in video games (e.g., to recreate voices of deceased voice actors so characters can return), and in music - in 2022, it enabled artist Aloe Blacc to perform a song where his voice was converted to sound like the late Avicii's voice, as a tribute. Researchers and archivists have also shown interest in using it to restore voices for people who lost theirs (like throat cancer patients), although that's still experimental. Traction and Achievements: Though a B2B company, Respeecher gained public fame because of the high-profile nature of its projects. By 2022, virtually every Star Wars fan and many industry professionals had heard of Respeecher due to media coverage of its involvement in resurrecting Luke Skywalker's youthful voice and Darth Vader's classic tones. The company has a relatively small number of clients (dozens of studios, game companies, etc.), but each project is high value. Its technology earned it an Engineering Emmy Award in 2021, and it won TechCrunch's Startup Battlefield (audience choice) at CES in 2020. In terms of funding, Respeecher raised about $1.5M in early 2020 (around the Techstars time), and as of 2021 it had raised over $3M in total from investors including Techstars, ff Venture Capital, and Acrobator Ventures. The team remained fairly lean (under 50 people) but comprised specialized AI researchers and sound engineers. Financially, Respeecher's revenue grew with each Hollywood contract; while not public, one can infer that by 2022 it was profitable or close, given the repeat work from Disney/Lucasfilm and others. One of Respeecher's achievements is also on the ethical front: in 2023 it was one of ten companies (alongside OpenAI and TikTok) to sign the Partnership on AI's framework for responsible media, committing to practices like obtaining consent, watermarking AI content, etc. This proactive stance has made them a trusted partner in an area often seen with suspicion (deepfakes). The war in Ukraine did pose a challenge - much of Respeecher's team was Kyiv-based, and during the Russian invasion in Feb 2022, the team amazingly continued working (the Obi-Wan Kenobi Vader voice project was completed in the spring of 2022 while Kyiv was under threat). This dedication further earned them respect in the industry. Key Partnerships: Respeecher's notable partnerships are with major studios like Disney/Lucasfilm, and with game studios such as CD Projekt Red (who used Respeecher in 2023 to voice a character in Cyberpunk 2077 in Polish, whose original actor had passed away). It also collaborated with the creative team of the documentary "Val" to recreate actor Val Kilmer's voice, which he lost due to cancer (Kilmer and his son provided the training data). Each successful partnership validates the tech and leads to more clients. On the academic side, Respeecher worked with medical research to explore giving people who lost their voice (e.g., ALS patients) a chance to speak in their own reconstructed voice - a heartwarming application of the tech. Future Outlook: Respeecher sits at the forefront of AI in media. The demand for voice cloning is likely to increase - whether to dubbing movies in a star's own voice across languages, bringing historical figures' voices to life for museums, or personal uses (with permission, someone might license their voice). The company's focus will be to maintain quality leadership as big players (like Microsoft or Google) also invest in voice AI. Respeecher's Ukrainian origin is a source of pride: it shows that despite adversity, Ukrainian tech can lead globally in innovation. The founders have expressed interest in eventually developing real-time voice conversion (currently it's not instant, it takes some processing time) and making the tech more accessible perhaps in creator tools. But they tread carefully to avoid misuse. In summary, Respeecher is a Ukrainian deep-tech startup that achieved what was once sci-fi - lending voices across time and space - and has done so responsibly. By powering some of Hollywood's most iconic moments with AI, it has cemented itself as a trailblazer in synthetic audio. As long as movies and games want to push creative boundaries, Respeecher's technology will likely be in the credits, helping the impossible become possible in voice. Sources: en.wikipedia.org, failory.com, techcrunch.com, youtube.com.
StartupGrowthAIMediaAudioDeep Tech
Revolut
London, United Kingdom · StartupRevolut is a British fintech company offering a “super-app” for digital banking and financial services. Launched in 2015 by founders Nik Storonsky (a former Credit Suisse trader from Russia) and Vlad Yatsenko (Ukrainian developer), Revolut began as a multicurrency travel card allowing users to spend and transfer money globally with minimal fees. It quickly evolved into a full-featured neobank. As of 2025, Revolut operates in 48+ countries and has 65 million customers worldwide, making it one of the fastest-growing fintechs ever. The app provides a suite of services: GBP and EUR bank accounts, debit cards, currency exchange for 30+ currencies at interbank rates, stock and crypto trading, person-to-person payments, bill splitting, and more. Revolut’s growth has been astonishing – it surpassed £3.1 billion in annual revenue in 2024 with £1.1 billion operating profit. The company has raised over $1.7 billion from investors like SoftBank, Tiger Global, and TCV, reaching a private valuation of $33 billion in 2021. In late 2025, a secondary share sale reportedly valued Revolut at $75 billion, vaulting it among the world’s most valuable fintechs. Revolut’s journey has not been without challenges: it faced regulatory hurdles (e.g. its UK banking license was long-delayed), compliance scrutiny, and had to strengthen its governance as it scaled. Nonetheless, the company achieved profitability in 2021 and has continued to grow its user base across Europe, North America, and Asia. Revolut’s mission is to become a “global financial super-app”, consolidating banking, investing, insurance, and payments in one place. It has introduced products like “Revolut Junior” accounts for kids, pay-later services, and expanded into credit in select markets. With over 10,000 employees worldwide, Revolut is now a regulated bank in the EU and other jurisdictions. Its story from scrappy travel card startup to a $75B-valued fintech giant with 65 million users epitomizes Europe’s fintech rise and the potential of challenger banks to rewrite banking norms.
StartupLate StageFintechConsumer
Satispay
Milan, Italy · StartupMobile payments network enabling peer-to-peer transfers and low-cost in-store payments without cards.
StartupGrowthFintechPayments
Solarisbank
Berlin, Germany · StartupEmbedded banking platform providing regulated accounts, cards, and payments APIs.
StartupGrowthFintechBanking
Swile
Paris, France · StartupEmployee experience platform blending benefits, rewards, and wallet tools for hybrid teams.
StartupSeries CFintechHR Tech
Synthesia
London, United Kingdom · StartupAI video creation platform that turns scripts into multilingual clips with photorealistic avatars.
StartupGrowthAIMedia
Templafy
Copenhagen, Denmark · StartupTemplafy is an enterprise content enablement platform that keeps documents, presentations, and emails on brand and compliant. Founded in Copenhagen in 2014, the company integrates with tools like Microsoft Office and Google Workspace to centralize templates, assets, and dynamic content. Templafy serves global enterprises with millions of users and automates governance for marketing, legal, and sales teams. It is one of Denmark's most successful B2B SaaS scale ups.
StartupGrowthB2B SaaSDocument Automation
The Exploration Company
Munich, Germany · StartupBuilding reusable Nyx capsules to ferry cargo to the ISS and future commercial space stations.
StartupGrowthSpaceLogistics
TIER Mobility
Berlin, Germany · StartupSustainable micromobility operator running e-scooters, e-bikes, and shared mopeds in cities.
StartupGrowthMobilitySustainability
Too Good To Go
Copenhagen, Denmark · StartupToo Good To Go is a marketplace that helps consumers buy surplus food from restaurants, bakeries, and supermarkets at a discount, reducing food waste. Launched in Denmark in 2015, the app scaled across Europe, North America, and Australia, building a global community that has saved millions of meals. The company combines sustainability impact with a simple consumer pickup model and has become one of the best known Danish climate tech exports. It also runs programs that help businesses prevent waste and educate consumers about food labeling.
StartupGrowthMarketplaceFood WasteSustainability
Tradeshift
Copenhagen, Denmark · StartupTradeshift was founded in Copenhagen in 2010 by veterans of Denmark's e-invoicing infrastructure and set out to modernize global trade workflows. Its cloud platform connects buyers and suppliers for e-invoicing, procurement, and supply chain finance, using open standards and a network model. Tradeshift scaled to a global footprint with headquarters in San Francisco and offices across Europe and Asia, and it achieved unicorn status after major funding rounds. The company is a flagship Danish fintech and B2B SaaS success.
StartupGrowthFintechSupply ChainB2B SaaS
Tripledot Studios
London, United Kingdom · StartupMobile games company scaling casual puzzle and card titles to millions of players.
StartupGrowthGamingMobile
Trustpilot
Copenhagen, Denmark · StartupFounded in 2007 by Peter Holten Muhlmann, Trustpilot is a Copenhagen-born consumer reviews platform that helps people share feedback about businesses and helps companies respond to and learn from customers. The platform operates a freemium model, pairing public reviews with paid tools for analytics, review invitations, and trust widgets. Trustpilot scaled internationally, opened major offices in London and New York, and went public on the London Stock Exchange in 2021. Today it hosts hundreds of millions of reviews and remains one of Denmark's best known global software successes.
StartupGrowthSaaSReviewsE-commerce
Unity Technologies
Copenhagen, Denmark · StartupUnity Technologies was founded in Copenhagen in 2004 as a small game studio and evolved into the Unity game engine, a widely used platform for building 2D, 3D, and real time experiences. Unity helped democratize game development with a friendly pricing model, cross platform deployment, and a massive developer ecosystem. The company expanded into industries like automotive, architecture, and simulation, and it went public on the NYSE in 2020. Unity remains one of the most influential Danish founded technology companies in the global developer tools space.
StartupGrowthGamingDeveloper Tools3D
Universal Robots
Odense, Denmark · StartupUniversal Robots was founded in Odense in 2005 and pioneered collaborative robots that are safe, flexible, and easy to program for small and mid sized manufacturers. The company introduced affordable robotic arms like the UR5 and helped establish the global cobot category. After strong growth, Universal Robots was acquired by Teradyne and continued expanding its product line and ecosystem. It is a cornerstone of Denmark's robotics cluster and a global automation leader.
StartupGrowthRoboticsIndustrialAutomation
Vinted
Vilnius, Lithuania · StartupVinted is Europe’s largest online marketplace for second-hand fashion, and Lithuania’s first tech unicorn. Founded in 2008 in Vilnius by Milda Mitkutė and Justas Janauskas, Vinted started as a simple site to sell unwanted clothes peer-to-peer – an idea born when Mitkutė needed to downsize her wardrobe before moving. Over the years, Vinted expanded to become a pan-European platform with over 80 million members in 18 countries. Users (primarily young women, but also men and kids’ parents) can buy and sell second-hand clothes, accessories, home goods, and more. Vinted’s appeal lies in its easy-to-use app and low fees: listing items is free, and the buyer pays a small “Buyer Protection” fee (around 5%) which covers payment insurance and customer support. The company generates revenue from these fees and optional shipping or bump services. Vinted’s growth has been explosive in recent years as second-hand shopping went mainstream. In 2019, Vinted raised €128M at a €1 billion valuation, officially becoming a unicorn – and notably the first from Lithuania. By mid-2021, it raised an additional €250M round at a €3.5 billion valuation and then a €300M round in 2021–2022 valuing it around €5 billion. This made Vinted one of Europe’s most valuable privately-held marketplaces. The platform’s transaction volume and revenue have been growing 50–60% YoY; in 2024, it posted €813M in revenue (+36%) with a net profit of €76.7M – a rare profitable unicorn. Vinted has aggressively expanded: it acquired several competitors (like United Wardrobe in the Netherlands and trendsales.dk in Denmark), and launched new markets such as Canada. It has also diversified into logistics (launching Vinted Go drop-off/pick-up services) and payments (Vinted Pay). With its mission “to make second-hand the first choice,” Vinted taps into sustainability trends and offers an affordable alternative to fast fashion. Its community-driven model and strong unit economics position Vinted as not just a Baltic success story, but a global leader in recommerce, standing shoulder to shoulder with Poshmark or ThredUp in the US.
StartupGrowthMarketplaceConsumer
Vivino
Copenhagen, Denmark · StartupVivino is a Copenhagen founded wine discovery app that lets consumers scan labels and access crowd sourced ratings, tasting notes, and pricing. Founded in 2010 by Heini Zachariassen and Theis Sondergaard, Vivino built the largest wine data community and later expanded into a full marketplace where users can buy wines directly. The company has grown to tens of millions of users and has raised significant venture funding to expand internationally. Vivino is a standout Danish consumer tech company that blended mobile, computer vision, and commerce.
StartupGrowthMarketplaceConsumerE-commerce
Wayve
London, United Kingdom · StartupAI-first autonomous driving company building self-learning software that can retrofit into partner vehicles.
StartupGrowthAIAutonomous Vehicles
Zendesk
Copenhagen, Denmark · StartupZendesk was founded in Copenhagen in 2007 by Mikkel Svane, Morten Primdahl, and Alexander Aghassipour to make customer support software simpler and more usable. The company built a cloud helpdesk that unified email, chat, voice, and social support, then expanded rapidly after relocating headquarters to San Francisco while keeping Danish roots. Zendesk went public in 2014 and later returned to private ownership in 2022, but it continues to shape the global customer experience software market and remains a landmark Danish founded SaaS company.
StartupGrowthSaaSCustomer Support