In France, the pipeline of potential $1B+ companies has never been so promising, and has even started to deliver with Doctolib. The first exits will follow soon, and with them the 'mafias' of operators with firsthand rocketship experience that we lack. We perceive this as the last significant step before ecosystem maturity.
I’m very optimistic. We’ve seen so many exciting ideas being developed by firms and embraced by consumers, including here at Monzo. People are appreciating how technology can provide them with a much better level of transparency and control, and I expect that trend to continue. We’re seeing multiple world-class, growth-stage companies coming out of Europe across multiple sectors, really for the first time ever. In digital banking alone, we’ve got three or four companies with multi-billion valuations.
Because fewer unicorn companies have started in Europe than in America, we have a less fixed mindset as to what a successful business or a successful founder should be. We're more open to quirky business ideas and teams that don't quite fit the 'socially awkward white guy with a hoodie' mould.
Great operating talent came out of the first generation of consumer tech companies in Europe - people who are great marketers, great at product, great at finance. That talent has been key in supporting a new generation of deep tech companies as they commercialise. We now have the ingredients to build big companies.