2023 is now well and truly underway. As January closes and we move into February, we’re taking a look back at what happened this month across Europe’s startup ecosystem.
One of the hottest topics of the month has been, sadly, about who’s firing and making big layoffs. It seems few tech companies have been immune, with giants of the industry making massive job cuts right around the world. It’s a phenomenon that has left some wondering if this is the beginning of the end for the tech boom. European unicorns have also been struggling, with many moving to consolidate, and become more streamlined in order to preserve resources.
We took a look at the European unicorns making layoffs recently.
At the same time, it’s important to remain optimistic. Not every company is making layoffs, and while funding and innovation are still abundant, growth is still emerging. And with growth, comes fresh hires!
Here, we take a look at the European startups making worrying layoffs, but also highlight some of the companies on an upward trajectory and on the hunt for new talent. Remember, if you’re looking for a new job, you can always check out our dedicated job board!
Startups happily hiring
London-based digital identity simplifier Onfido, founded in 2012, is now actively hiring new team members. With a total of 700 employees, the startup makes digital identity simple. As the world goes increasingly online, digital identity verification is all the more important, and Onfido is helping push forward this space.
Frankfurt-based insurance platform Clark, founded in 2015, is actively looking for fresh talent. The insurtech company has developed an app that makes it easier, simpler and faster for consumers to manage their insurance – all in one place. The company has grown fast, reaching a €69 million Series C raise.
Berlin-based fintech Taxfix is actively hiring. Founded in 2016, the company wants to ‘fix’ tax – making it simpler and more accessible. The vision is that the app will enable anyone, regardless of education or background, to file their taxes with newfound confidence. The team is based in Madrid and Berlin and has raised $330 million in funding.
Lille-based Exotec is also growing quite nicely. Founded in 2015, the innovative company is building goods-to-person warehouse robotic solutions for global brands. it combines hardware and software solutions to drive operational efficiency and improve working conditions for warehouse operators.
Adtech firm Ogury is actively hiring according to LinkedIn. Based in London and Paris, the firm specialises in personified advertising that delivers results by using targeting that is based on personas and destinations. Founded in 2014, its become a global brand with engineers across 17 countries and has raised about $92 million.
Financial wellbeing firm Salary Finance might just help the financial wellbeing of new talent as it looks to grow. Founded in 2015, it’s on a mission to help employees become financially healthier and happier by providing access to responsible financial benefits for employees. This includes educational material, salary-linked savings, flexi-pay and so on.
London-based Capital on Tap, which provides an all-in-one small business credit card and spend management platform, is on the hunt for fresh talent. Launched in 2012, the startup has been recognised by Forbes and the Financial Times as one of Europe’s fastest-growing businesses. More than 200,000 small business customers have spent more than £4 billion on their Capital on Tap Business Credit Cards.
Stockholm-based Volta Trucks is continuing to grow, looking to take on team members to push forward its green vision. Founded in 2019, the firm is building electric trucks for sustainable cities – removing emissions and engine noise. The startup is growing fast and secured over $60 million in 2022 through a Series C round.
Founded in 2014, Mentimeter, is now actively hiring. Its audience engagement platform makes presentations and meetings fun, collaborative, and interactive. It has so far caught the attention of over 200 million users and customers across 220 countries and raised over $42 million.
Helsinki-based Varjo is looking for new talent after picking up $40 million in 2022. Founded in 2016, the startup is on a mission to reshape reality through innovative VR/XR products that seamlessly merge virtual, mixed and traditional reality.
Startups making cuts
Berlin-based vertical farms builder Infarm, founded in 2013, made big cuts (downsizing by about 500 people), citing a strategy shift and changes in focus. The German unicorn, which is on a mission to make cities self-sufficient in their food production, had raised a total funding amount of $604.5 million since its inception.
Stockholm-based digital healthcare services provider Kry, founded in 2015, recently made big job cuts (about 10% of its workforce). The Swedish unicorn, which has raised a total amount of $729.4 million, cites its because they want to turn to profitability in the next 18-24 months.
London-based Pollen announced it was going to lay off about 200 employees, just weeks after a $150 million raise. The travel and entertainment technology company creates and connects travellers and festival lovers with events. It’s reported the layoffs were demanded by investors as part of a cost-cutting strategy.
Vienna-based edtech Go Student cut about 200 jobs. The Austrian unicorn, founded in 2016, also announced it was withdrawing from the US market alongside the cuts. The startup had been growing fast, having raised over €591 million to unlock the power of digital education with its online tutoring marketplace.
Berlin-based micro-mobility company TIER Mobility, founded in 2018, cut 180 jobs as the funding climate took a downturn at the end of the summer in 2022. The German mobility giant announced it was laying off 16% of staff in order to push for profitability and prepare for funding drying up.