London Brief #14–21% of British Startups to Open an Office on the Continent

Phillip Hammond needs help in fighting cybercrime. New €60 million fund from Frontline Ventures. Read more in today’s issue.

People

In advance of the formal opening of the National Cyber Security Centre (NCSC) by the Queen and the Duke of Edinburgh, Phillip Hammond, the Chancellor, invites the private sector to join the fight against cyber-attacks.

Marco Nardone, the founder and CEO of the failed social media turned to nude pics app Fling, may not like it, but we could learn a lot from this story of burning $21m in three years.

In the news

Silicon Valley Bank’s Startup Outlook Survey shows that 21% of British startups are planning to open an office in the continental Europe due to Brexit worries.

Regardless, the Financial Times has found that some French entrepreneurs still choose London over Paris.

Frontline Ventures, an early-stage VC firm with offices in Dublin and London, has a new €60 million fund for B2B European software companies at pre-seed and seed stages.

Business as usual

  • Momondo, a London-based travel search engine, has been acquired by The Priceline Group, the owner of Kayak, for $550m
  • VoxSmart, a provider of software that registers mobile communications for regulatory compliance, has closed a $7m Series A round led by Deepbridge Capital.
  • Bloom & Wild, an online flower delivery service, has announced the closure of a £3.75m Series B round led by Burda Principal Investments.
  • REVL, the UK’s ultimate iOS events listing app, is no longer stealth. It has £2.4m seed investment from private investors.
  • Perfect Channel, a developer of auction and trading software, has closed a £2m funding round from Beringea and its new investor UIL Limited.
  • HeadBox, a marketplace for off-site meeting venues, has raised a £1.4m Series A round.
  • Hellocar, a car buying website started at the Founders Factory, will launch in Manchester before the countrywide rollout. It has raised £1m seed from JamJar Investments and Alex Chesterman, the founder and CEO of Zoopla Property Group. Henry Lane Fox will join the company board.
  • Free Postcode Lottery, an online lottery platform, has raised £1m seed funding from Zeal Investments.
  • Repairly, an on-demand phone and tablet repair service, has closed a £265,000 Seed round.

Number of the week

21% of British startups consider opening an office in the continental Europe

Idea

London Brief is a weekly selection of essential information about startups, technology and the business scene in London. Got news? Give us a shout at londonbrief@netguru.co.

Piotr Wrzosinski

On behalf of the London Brief Team

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