Category: Seedcamp

The Future of E-Commerce and the Companies out to Enable it


This post is by Kate McGinn from Seedcamp


Last month, Meta lost $232Bn in market value after releasing its first-quarter earnings report, which displayed a sharp decline in profits. It is the single biggest one-day decline for a stock in U.S. history. The reasons for this drop are manifold: the rise of TikTok, plummeting daily active users, and inflation are partly to blame. Yet Zuckerberg also cited Apple’s ad-tracking changes, introduced a year ago, as costing Meta upwards of $10Bn this year alone.

It’s a seemingly small change: in an effort to respect user privacy, Apple users are now encouraged to choose whether or not they’d like to be tracked by the apps on their phone. But it has a huge effect on how companies run targeted ad campaigns. Meta criticised the move, arguing that SMBs will be most hurt by these changes, but Apple’s decision is clearly wreaking havoc on their investor earnings report. $10Bn dollars worth of havoc.

When we discussed the report as a team, it struck us that another way to look at this number is that there is now an additional $10Bn on the table for early-stage founders in the e-commerce tooling space. This, combined with the pandemic-fuelled rise of e-commerce which is expected to grow 16% to $6Tn by 2025, creates game-changing opportunities for innovation.

At Seedcamp, we’ve partnered with several exceptional companies across the lifecycle of a merchant’s and customer’s e-commerce journey, from the pre-sale to sale and post-sale function. Within e-commerce enablement, we are particularly excited about three key trends: (Read more...)

Klump launches to bring Buy Now Pay Later to Nigeria


This post is by Natasha Lytton from Seedcamp


From left, Olufunbi Falayi, Co-founder and Chief Product Officer, Klump; Celestine Omin, Co-founder and CEO, Klump

Welcome to the Seedcamp Nation Klump, marking our second investment in Africa and businesses out to democratise access to financial services in the continent. With the e-commerce market in Nigeria projected to grow to $311 billion by 2024, we are excited to lead Klumps’ $780k pre-seed round to bring Buy Now Pay Later to Nigeria in a way that enables merchants to thrive while focussing on responsible lending for consumers.

Founded in 2021 by friends Celestine Omin and Olufunbi Falayi, Klump is a Buy Now Pay Later (BNPL) technology company with a mission to enhance the online checkout payment page and in-store sales with innovative and customer-friendly products, starting with their flagship product – Pay with Klump. The founding team has deep experience across the payments sector at the likes of Konga, Andela, Paystack, Amazon Payments (Consumer Payment) and H-E-B (Wallet Payment).

As the adoption of BNPL continues to grow globally, Klump’s vision is to become the preferred alternative online checkout and in-store payment processing company, offering flexible payment solutions to customers and merchants for products and services. With their proprietary credit eligibility and fraud detection engine, Klump is able to make an informed credit decision on a customer in less than 3 minutes, compared to the industry norm in Nigeria which stands at two to three days, with a goal to further reduce the decision time to less than a minute.

Klump (Read more...)

Start-Up Founder Compensation Survey


This post is by Miguel Pinho from Seedcamp


A data-driven deep dive into founder salary and equity, from Pre Seed to Series A

Welcome to the first edition of the Start-Up Founder Compensation Survey – powered by Graphy.

At Seedcamp, this question comes up time and time again and we struggled to find any reliable data. As a consequence, the purpose of this survey is to provide a clear set of results, based on peer data, absent of bias, for free. A starting point for founders to construct a compelling case to empower their position, especially for those from diverse backgrounds, not an investor-led set of guidelines. More #powertothefounder

I would like to extend thanks and congratulations to Graphy, a Seedcamp company, for the awesome charts and their recent launch!

I would also like to thank the other funds who contributed their data outside of the Seedcamp Nation to help provide insight, namely Anthemis, Notion Capital, and BackedVC (if anyone else’s companies contributed please let me know and I’ll add you here!)

Please read!

We collected a number of variables from the companies that submitted the survey including: Annual Salary; Equity % Held; Company Revenue; Last Round Type; Last Round Size; Number of Co-Founders; Number of Employees; Years in Operation; Geographical Location (HQ); Office Status (Office, Hybrid, Remote)

Please find the forex rates used at the time of generating the charts here.

We have spent countless hours digesting all this data and comparing and contrasting these variables together on hundreds of charts. The conclusion was (Read more...)

Our investment in Yavin’s €5M round for its smart payment terminal


This post is by Natasha Lytton from Seedcamp


FinTech + France = a winning combination. While financial services continues to be one of our most active sectors at Seedcamp, the wave of exceptional entrepreneurial talent emerging from France is also a trend that shows no signs of slowing down.

Just six months after leading their initial €1.2M round, we’re very excited to double down on our support in Alfred and Samuel, co-founders of Yavin, to supercharge their in-store payment platform and accelerate international development.

Yavin co-founders Alfred Bourély and Samuel Manassé

Founded in 2020, Yavin has been reinventing the in-store payment experience for local businesses. Co-founders Samuel Manassé (CEO), former CEO of SumUp challenger Smile&Pay, and Alfred Bourély (CTO) created Yavin to empower SMBs and help merchants get the best service, at the best price, while keeping freedom and control. With its no-commitment transparent offer, Yavin wants to free local shops from hidden fees and lock-in contracts of banks. For a monthly subscription fee, merchants can accept all payments (including contactless, QR-codes, crypto, pay-in-3, etc.), connect Yavin to their existing PoS system, and benefit from competitive transaction fees.

Samuel Manassé, CEO and Co-founder of Yavin, comments: “Merchants were forced to use outdated solutions for years. At Yavin, we are building with our customers and partners the in-store payment solution they have been waiting for. Payment will evolve enormously over the next few years. We will be at the side of merchants, so they can benefit from the next revolution”.

Yavin launched its first offer in France, bringing (Read more...)

When to hire a CMO for your startup?


This post is by Natasha Lytton from Seedcamp


One of the very first questions we get from founders after they raise capital is how to spend it, with talent and customer acquisition generally the biggest focus of our founders’ time, and budgets.

In this post, Carlos chats with Natasha Lytton from our team about her experiences as a CMO and covers some of the typical questions we see asked (or those that sometimes people are too embarrassed to ask) around all things Marketing and when, and how, to hire a marketer for your startup.

Image by Fab Lentz, Unsplash

What is the most misunderstood part of ‘the marketing function’ within a startup?

  1. That growth belongs exclusively within the marketing department
  2. That one person can cover the whole stack of ‘marketing’ – ie performance and brand
  3. That short-term tactics are the wholly grail and that customer acquisition costs (CAC) you achieve today will last forever (spoiler alert, they won’t!)

When you should be doing marketing vs. someone else?

I think this really depends on you as a founder and the mix of your founding team; your skillset, where you feel most comfortable, and what’s going to be the most impactful use of your time. If you have zero marketing experience and know this is going to be a core function in order for your business to grow, I’d be looking to bring someone on to run it asap. I think, as founders, it’s essential you take an active interest in the story of the business, which is essential when it (Read more...)

Our investment in Figures’ €1.7M round to help startups manage their salary policy


This post is by Natasha Lytton from Seedcamp


Figures co-founders Virgile Raingeard and Bastien Formery

One of the most frequent questions we get from our founders at Seedcamp is ‘how much should I be paying for xx role?’ Until now, navigating startup salaries across Europe has been a total black box, with companies constantly struggling to get cohesive benchmarking data and understand how to position themselves to be competitive in the market, without bankrupting themselves in the process.

To help solve this massive problem, we are delighted to lead investment into Virgile and Bastien, co-founders of Figures, as they set out to help startups manage their salary policy as they scale their compensation platform across multiple European countries. We are impressed by what the team has built in just a year, with20 customers already in France and Germany including the likes of Qonto, PayFit, BackMarket, and JobTeaser who rely on the Figures platform to define their salary policy. Given the success of its solution, Figures has announced an acceleration of its development in Europe (Germany, United Kingdom, Spain, Benelux, Scandinavian countries) and aims to have 700 European customers within a year.

In a market under high tension, in which compensation is a key component to attracting and retaining the best talents, Figures’ solution has already helped more than 220 start-ups to review their salary policy. Figures is currently the only platform providing access to real salary levels in the start-up market, with data filterable by company size, industry, funding, role, and location.

With a strong (Read more...)

The Future of Cybersecurity and the Tech Companies out to Improve it


This post is by Kate McGinn from Seedcamp


The digital lives we’ve built for ourselves are proving to be more vulnerable to cyber attacks than ever before. Tech, media, and, yes, even beef corporations are being infiltrated by sophisticated hacker groups which current cyber solutions seemingly can’t defend against. Gone are the days of exclusively feeling nervous about physical break-ins — today’s main security concerns are digital. At Seedcamp, we have been backing a variety of companies looking to keep people’s personal and professional lives safe. One example is Zamna, which is focused on traveler health verification at airports (talk about a timely problem to solve!). Another is Cyscale, one of our most recent additions to the Seedcamp Nation, which maps, secures, and monitors cloud assets for companies. Whether in a professional or personal setting, we are passionate about digital security due to its ever-increasing importance to make our world a safer place. 

Today, two big trends are putting strain on our old ways of securing data, infrastructure, and applications.  These are 1) the COVID-induced move to a remote workforce and 2) a shift to open-source and web3. 

Let’s dig in.

From work-bound to house-bound.

First of all, and as no news to anyone, COVID has made the work-bound, house-bound. Our remote workforce comes with a myriad of dangers as today’s employees rely on home networks, which oftentimes aren’t secured. When workers are decentralised and operate from multiple different locations, one hack on a personal network can lead to the entire organisation being at (Read more...)

Why we’re leading alternative investment app, Koia’s, $1.4M pre-seed round


This post is by Natasha Lytton from Seedcamp


Alternative investments and being able to own a piece of something you love is very much at the forefront of conversation and yet, the ability to understand – or access – them still feels off-limits for the majority of people. That’s why we’re delighted to back Iris, Richard, and Ben as they launch Koia, on a mission to make alternative assets accessible to anyone via fractional ownership.

Koia co-founders Ben Riazy, Richard Draper, and Iris ten Teije

Koia allows users to invest in assets they understand and are truly passionate about, breaking down existing barriers to entry and enabling more than the wealthiest 1% to own a piece of an iconic asset; be it a watch, fine wine, or a Pokemon Card. In time, their vision is to be able to fractionalise any kind of physical or digital asset so we can all own a piece of something we love.

Our investment in Koia comes at a time when interest in collectibles is at an all-time high, with 2021 seeing record-breaking sales across everything from sneakers to trading cards and whisky. Auction houses tripled their sales in the first half of the year while companies selling physical collectibles, such as a StockX, reached multi-billion valuations and NFTs surpassed $40Bn in sales.

Koia co-founders Iris ten Teije, Richard Draper and Ben Riazy have spent their careers across traditional financial services and fintechs. The team believes that the democratization of financial services has only just begun and that by leveraging blockchain (Read more...)

Seedcamp 2021 Year in Review


This post is by Kate McGinn from Seedcamp


50 new companies, £4Bn+ in follow-on funding, and two Seedcamp companies list publicly 

It feels like a daunting task to reflect back on what has arguably been the busiest in our 14-year history at Seedcamp. 2021 has been a year of incredible highs, with some amazing successes and reasons to celebrate across our core team and portfolio companies. We’d be remiss to overlook that — with all the highs — it’s also been a challenging year; both globally and for many of us personally. So, we start this year’s reflection with a much-needed and massive Thank You to everyone who has contributed to making this crazy year one of our best yet. 

It’s no secret that pace has been the name of the game this year. With so much talk of inflated rounds, bubbles, and bull markets, we’ve remained firm in our core belief: that exceptional talent can come from anywhere and focused on investing and supporting those founders we believe are building the businesses that will help shape the future we want to be a part of. It’s been no mean feat! This year, we’ve invested in 50 new pre-seed and seed-stage companies building everything from the technology to simplify borderless transactions for commerce across Africa to contextual search tools to help improve workplace knowledge.

And while we’ve increased our pace of investment, we’ve also doubled down on the support we provide to our portfolio companies once they become part of the Seedcamp Nation, building our core team and (Read more...)

Seedcamp 2021 Year in Review


This post is by Kate McGinn from Seedcamp


50 new companies, £4Bn+ in follow-on funding, and two Seedcamp companies list publicly 

It feels like a daunting task to reflect back on what has arguably been the busiest in our 14-year history at Seedcamp. 2021 has been a year of incredible highs, with some amazing successes and reasons to celebrate across our core team and portfolio companies. We’d be remiss to overlook that — with all the highs — it’s also been a challenging year; both globally and for many of us personally. So, we start this year’s reflection with a much-needed and massive Thank You to everyone who has contributed to making this crazy year one of our best yet. 

It’s no secret that pace has been the name of the game this year. With so much talk of inflated rounds, bubbles, and bull markets, we’ve remained firm in our core belief: that exceptional talent can come from anywhere and focused on investing and supporting those founders we believe are building the businesses that will help shape the future we want to be a part of. It’s been no mean feat! This year, we’ve invested in 50 new pre-seed and seed-stage companies building everything from the technology to simplify borderless transactions for commerce across Africa to contextual search tools to help improve workplace knowledge.

And while we’ve increased our pace of investment, we’ve also doubled down on the support we provide to our portfolio companies once they become part of the Seedcamp Nation, building our core team and (Read more...)