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European Startup Bankruptcies Remain Low But New Company Creation Stalls | ‘The Voice of EU’

By RAZA H. QADRI (ALI)

The European startup landscape is showing intriguing dynamics in 2023, with a mix of VC-backed bankruptcies remaining relatively low while the creation of new companies through first-time financings has faced a significant slowdown.

Here we will analyze some of the top trends altering startups ecosystem.

  • Bankruptcies in European Startups Is A Surprising Trend
  • First-Time Financings Slump In New Startup Creation
  • Potential Rise in Failures as Funding Challenges Persist
  • Navigating the Challenges of European Startup Ecosystem

Bankruptcies in European Startups – A Surprising Trend

Despite concerns stemming from the slowdown in VC investments observed since the previous year, the anticipated wave of startups facing bankruptcy due to rising operational costs hasn’t manifested as predicted. In fact, according to ‘Voice of EU’ data, only 156 VC-backed companies have filed for bankruptcy since the start of the year. European startup bankruptcies remain low but new company creation stalls.

If this pace continues, the total number of bankruptcies for the year is projected to be lower than the figures reported in 2022.

The key factor here seems to be the strategic efforts taken by startups to extend their runway by implementing cost-cutting measures, including employee layoffs.

Additionally, venture capitalists have prioritized injecting additional capital into existing portfolio companies, bolstering their chances of survival during this challenging period.

European Startup Bankruptcies Remain Low But New Company Creation Stalls

Picture credits: PS Art

First-Time Financings Slump In New Startup Creation

While the bankruptcy rates remain surprisingly low, the slowdown in VC investments has affected the creation of new startups in Europe. Specifically, the number of first-time financings, a critical metric for gauging the health of the startup ecosystem, has experienced a notable decline.

In 2023, only 1,619 first-time financings have closed across Europe, a stark contrast to the 3,876 reported in the previous year, 2022.

This decline signifies a significant shift in the European startup landscape, as managers exhibit caution in entering new investment commitments amidst the ongoing funding challenges.

Rise in Failures as Funding Challenges Persist

The deceleration in first-time financings paints a clear picture of the challenges new startups are facing in securing initial funding. Should these funding challenges continue, it’s possible that startup failures could see an uptick in the coming months as more companies find their runways reaching their limits.

Notable instances include the liquidation of Spanish laundry service company Jeff, which had previously raised $41.4 million from backers such as Mundi Ventures and FJ Labs.

Interestingly, the bankruptcies in European startups have been largely observed among smaller companies with comparatively limited funding. However, this year has seen exceptions to this trend, with a handful of larger startups succumbing to financial pressures.

Dutch electric vehicle startup Lightyear, despite securing over $200 million in funding from entities like Invest-NL, faced bankruptcy in February.

The Challenges of European Startup Ecosystem

The current landscape for European startups is a nuanced one, characterized by the juxtaposition of relatively low VC-backed bankruptcies and the significant slowdown in first-time financings. This delicate balance underscores the resilience and adaptability of the region’s entrepreneurial ecosystem.

As startups continue to strategize for prolonged runways and venture capitalists carefully manage their existing portfolios, the year ahead holds the potential for both challenges and opportunities for Europe’s startup community.


Thank You For Your Support!

By Raza H. Qadri (ALI) | Entrepreneur, Science Enthusiast And Contributor ‘THE VOICE OF EU

— For more information & news submissions: info@VoiceOfEU.com

— Anonymous news submissions: press@VoiceOfEU.com


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‘Truly horrific’ windowless loft stuns London flathunters when it is offered for rent at £340 a month

A tiny London windowless attic room, so small it has been compared to Harry Potter‘s room under the stairs, has left flat hunters horrified.

Potential tenants have claimed they reported the ‘disgusting’ room in Catford, South East London after discovering it was up for let for £340 a month.

The eerie room had been advertised as ‘ideal for a single’ bachelor with no children, who would be happy sharing a bathroom with others in the property.

When house hunting hopefuls click on the listing, they find a handful of photos of the narrow room.

The very small room barely has room to fit it’s furniture which includes a leather sofa facing a mirror, with a large TV. 

Flat hunters have been left horrified by an advertisement for a flat in Catford, southeast London (pictured)

Flat hunters have been left horrified by an advertisement for a flat in Catford, southeast London (pictured)

The eerie and narrow room was described as 'ideal for a single guy' and was up for let for £340 a month

The eerie and narrow room was described as ‘ideal for a single guy’ and was up for let for £340 a month

A second snap of the room photos showcases a single bed, a bedside table and girl band posters and wallpapers peeling from the walls.

The Gumtree listing – posted on July – stunned social media users who blasted its ‘truly horrific’ look and questioned who deemed it appropriate to rent.

One was so appalled that they claimed they reported it to the council’s Private Sector Housing Enforcement.

Others flocked to the comments comparing it to Harry Potter’s squashed cubbie room under the stairs.

They wrote: ‘Not to be an absolute Karen but this is so bad I felt compelled to report it (even though I don’t live anywhere near here!).’

One shocked user wrote: ‘Fritzl’s daughter had more space.’

‘Used to rent a one-bed mid terrace for £375 -£35 more for a whole house,’ a second penned.

‘This is genuinely disgusting. F*** whoever thought this is an appropriate space to rent out,’ another quipped.

A fourth said: ‘Can you imagine that in a heatwave with no window!’

One joked: ‘Love the ripped Spice Girls poster, spot on décor also the mirror opposite the sofa is for you to look at yourself and wonder ‘how did I get into this mess?.’

The advertiser was contacted but the listing has since been removed from Gumtree.

The Gumtree listing which has been bashed by prospective tenants as 'disgusting' has since been removed from the site

The Gumtree listing which has been bashed by prospective tenants as ‘disgusting’ has since been removed from the site

Lewisham Councillor Will Cooper, Cabinet Member for Better Homes, Neighbourhoods and Homelessness said: ‘We are appalled, but sadly not shocked to see rentals like this being advertised in Lewisham, where our worsening housing crisis means private tenants are being pushed into ever more desperate circumstances. 

‘This is why the Council has recently introduced selective licensing, to give us better powers to deal with this type of criminality.

‘We encourage members of the public to continue reporting instances like this and thank those people who did contact our service about this awful advert.

‘This ad has since been removed and there is no address on the screenshot, so unfortunately, we will not be able to investigate this specific case unless someone comes forward with further information. 

‘However, renters should be assured that we can and do take enforcement action against similarly poor properties on a regular basis, and are committed to using our new avenues to do more of this activity in the future.’

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Victorian boathouse on one of Britain’s poshest stretches of river sells for £537,000 – double the price of most people’s homes

A Victorian boathouse nestled on one of Britain’s most lavish riverside locations has been sold for double the price of an average person’s home.

The Aldous Boathouse, which sits on the River Thames in Teddington, was put up for sale for the first time in 24 years.

And when the hammer officially went down, the buyer forked out £537,000 for the riverside property,

Its final selling price was well over twice the average house price, which is £264,900 according to Zoopla’s House Price Index for May 2024. 

Built in 1874, the cosy boathouse boasts its very own pontoon as well as private car parking just in case the Thames is rammed with boats.

The cosy boathouse nestled on the riverside of the Thames in Teddington is on sale for  £537,000

The cosy boathouse nestled on the riverside of the Thames in Teddington is on sale for  £537,000

The Victorian property originally built in 1874 was used recreationally until two years ago and has no bedrooms

The Victorian property originally built in 1874 was used recreationally until two years ago and has no bedrooms 

Boasting direct access to the water opposite Teddington Lock, the building comes with its own private pontoon and car parking space

Boasting direct access to the water opposite Teddington Lock, the building comes with its own private pontoon and car parking space

Previously renovated in 1999 alongside flats in the Teddington Warf estate, the building was used as a recreational boathouse until two years ago. 

But despite its prime location a stone’s throw away from Teddington’s amenities, the property is in need of a bit of TLC.

However the boathouse could be a desirable project, as estate agents Savills have said there is possibility of developing the property further subject to planning permission.

The outbuilding also benefits from direct access to the water opposite Teddington Lock, as well as a functional floodplain.

The site, which is 4,390 square feet in size, boasts well-sized garden however it is currently overgrown. 

Anyone wishing to live in the boathouse would also need permission from the local council.

Despite its proximity to Teddington, the property which was renovated in 1999  requires some TLC

Despite its proximity to Teddington, the property which was renovated in 1999  requires some TLC

According to estate agents Savills the property stands to be a desirable project for a future buyer with potential for renovation - subject to planning permissions

According to estate agents Savills the property stands to be a desirable project for a future buyer with potential for renovation – subject to planning permissions

The site of the property is also 4,390 square, boasting well-sized gardens and car parking spaces in the immediate area

The site of the property is also 4,390 square, boasting well-sized gardens and car parking spaces in the immediate area

Before the auction, Steven Morish of Savills Auctions said: ‘Waterside lots are always popular and we’ve had an industrial-style house on the river at Rotherhithe, a historic gun tower at No. 1 The Thames and a detached home with panoramic views in Cornwall going under the hammer recently, but in all my years as an auctioneer this historic boat house is a first.

‘The charming Victorian boathouse is perched right above the water offering incredible river views and is surrounded by greenery offering the perfect escape from the hustle and bustle of the city.

‘While it is an ideal retreat and base for water-based activities from boating, sailing to rowing and paddleboarding, there is plenty of potential for a new owner to get creative and explore change of use subject to necessary consents.’

This comes after another lavish London boathouse was put on the market with an asking price of £2million – not including its ongoing mooring charges of £6,000 a year.

The posh four-bedroom boathouse is nestled on the River Thames at Prospect Quay in Wandsworth, London. 

The freehold property is called Caracoli, and has extensive views of the River Thames. 

The boat extends across 2,605 square feet, and has a large living room that includes a beautiful kitchen with a central island and a dining area that can seat 10 people comfortably.

Bi-fold doors open out to the west deck, where there is a staircase leading to a 55 ft-long roof sun deck on the level above.

The outbuilding also benefits from direct access to the water opposite Teddington Lock, as well as a functional floodplain

The outbuilding also benefits from direct access to the water opposite Teddington Lock, as well as a functional floodplain

However, if an individual would like to live in the boathouse, they would need permission from the local council

However, if an individual would like to live in the boathouse, they would need permission from the local council

The exterior of the building facing towards the Thames River in Teddington

The exterior of the building facing towards the Thames River in Teddington

The boathouse from a side view facing towards the opposing Teddington Lock

The boathouse from a side view facing towards the opposing Teddington Lock

On the lower deck, there are four double bedrooms and a single bedroom. The boat also has three bathrooms.

The owner of the boat has access to the amenities at Prospect Quay, which includes a swimming pool, a gym and secure parking.

The sale of the boat is being handled by RiverHomes, which explained that the boat falls into the council tax band E.

The property is just yards from Wandsworth Riverside Quarter Pier and half a mile from Putney Bridge. 

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London apartment where Lord Elgin displayed the Parthenon marbles is put up for sale for £26.25million

The London apartment where Lord Elgin displayed the Parthenon marbles has been put up for sale for £26.25million.

The 5,085 square feet apartment spans the entire fourth floor of the Grade II-listed 149 Old Park Lane.

Ultra-high net-worth individuals are expected to be interested in the property which includes a grand foyer, 14 ft ceilings, crystal chandeliers, bespoke furniture, a reception hall, a master bedroom and four guest bedrooms which all have ensuites. 

It comes with a £64,000 service charge, believed to be among the most expensive in the country, and all the amenities one would expect – including 24-hour porterage and concierge.

Along with its grandeur, the capital’s property watchers are also fascinated by the address’ unique and sometimes risqué history.

In 1806, Lord Elgin returned to Britain with the Parthenon marbles which he had removed from the Acropolis in Greece during his time as ambassador to the Ottoman Empire and took up residence at the address.

The 5,085 square feet apartment spans the entire fourth floor of the Grade II-listed 149 Old Park Lane

The 5,085 square feet apartment spans the entire fourth floor of the Grade II-listed 149 Old Park Lane

Ultra high net worth individuals are expected to be interested the property which includes a grand foyer, 14 ft ceilings, crystal chandeliers, bespoke furniture, reception hall, a master bedroom and four guest bedrooms which all have ensuites

Ultra high net worth individuals are expected to be interested the property which includes a grand foyer, 14 ft ceilings, crystal chandeliers, bespoke furniture, reception hall, a master bedroom and four guest bedrooms which all have ensuites

The property comes with a £64,000 service charge, believed to be among the most expensive in the country, and all the amenities one would expect - including 24-hour porterage and concierge

The property comes with a £64,000 service charge, believed to be among the most expensive in the country, and all the amenities one would expect – including 24-hour porterage and concierge

Along with its grandeur, the capital's property watchers are also fascinated by the address' unique and sometimes risqué history

Along with its grandeur, the capital’s property watchers are also fascinated by the address’ unique and sometimes risqué history

Lord Elgin put the treasures on public display at the address, which was then known as Gloucester House

Lord Elgin put the treasures on public display at the address, which was then known as Gloucester House

Lord Elgin put the treasures on public display at the address, which was then known as Gloucester House.

More than 200 years later, the sculptures – originally crafted by the ancient Greek painter and architect Pheidias – continue to fuel a war of words between the UK and Greek governments.

But the diplomatic row over the museum pieces isn’t the only colourful chapter of this property’s story. 

Around the same time the marbles arrived, Lord Elgin made the discovery that his aristocratic wife Mary Hamilton Bruce had grown close to the MP Robert Ferguson. 

In 1807, the revelation led to an acrimonious courtroom drama which filled the newspapers of the day and would later become the basis for countless racy books – both historical and fiction. 

Lord Elgin sued Ferguson for ‘seduction’ and was awarded £10,000 – a fortune worth millions in today’s money.

The Elgin Marbles also known as the Parthenon marbles was sculpted by Phidias, are a series of Ancient Greek sculptures created between 447BC and 432BC. They were previously housed in the Parthenon in Athens (pictured)

The Elgin Marbles also known as the Parthenon marbles was sculpted by Phidias, are a series of Ancient Greek sculptures created between 447BC and 432BC. They were previously housed in the Parthenon in Athens (pictured)

Elgin alleged he was granted permission from the Ottoman Empire to bring the sculptures to the UK. Even though, there was quite a paper trail during this time period, no documents have been discovered to support his claims (Pictured: The Elgin Marbles)

Elgin alleged he was granted permission from the Ottoman Empire to bring the sculptures to the UK. Even though, there was quite a paper trail during this time period, no documents have been discovered to support his claims (Pictured: The Elgin Marbles)

The Elgin Marbles (pictured) are a 17-figure collection of classical Greek marble sculptures made by architect and sculptor Phidias, a Greek sculptor whose statue of Zeus, the god of the sky in ancient Greek mythology, was one of the seven wonders of the ancient world

The Elgin Marbles (pictured) are a 17-figure collection of classical Greek marble sculptures made by architect and sculptor Phidias, a Greek sculptor whose statue of Zeus, the god of the sky in ancient Greek mythology, was one of the seven wonders of the ancient world

More than 200 years later, the sculptures Lord Elgin's decision continues to fuel a war of words between the UK and Greek governments

More than 200 years later, the sculptures Lord Elgin’s decision continues to fuel a war of words between the UK and Greek governments

The current sale is being handled by UK Sotheby's International Realty

The current sale is being handled by UK Sotheby’s International Realty

The building gives a great view over London and nearby parks

The building gives a great view over London and nearby parks

After the Elgins’ divorce, 149 Old Park Lane was occupied by Prince William, Duke of Gloucester and Edinburgh from 1816-34 and then by Prince George, Duke of Cambridge until his death in 1904.

Later in 1972, the first Hard Rock Café opened on the ground floor of the new building (designed by Colcutt & Hamp in 1905). 

Later still, in the 1990s, it would become Lord Sugar’s first venture into property development in which he transformed the building into decadent apartments for the uber-rich.    

The current sale is being handled by UK Sotheby’s International Realty.

On the company’s website they describe the five bedroom, five bathroom home as one with ‘rich heritage’ which is honoured throughout in the original fireplaces, traditional oak flooring and the period cornicing and panelling which have been hand restored.

It continues: ‘These traditional features blend seamlessly with luxury modern features such as underfloor heating, air conditioning, Sonos sound systems and Lutron lighting, adding a layer of total comfort. 

The exterior of Grade II-listed 149 Old Park Lane at night

The exterior of Grade II-listed 149 Old Park Lane at night

The bespoke, dine-in kitchen has been hand crafted from Jasmine white oak, the island, worktops and splashbacks are carved from polished neolith Calacatta and the space is fully fitted with state-of-the-art Gaggenau appliances

The bespoke, dine-in kitchen has been hand crafted from Jasmine white oak, the island, worktops and splashbacks are carved from polished neolith Calacatta and the space is fully fitted with state-of-the-art Gaggenau appliances 

The apartment also has a separate back-of-house staff entrance with live-in staff quarters, as well as 24-hour security in the lobby, secured doors and windows, all of which are alarmed, and a CCTV system which can be accessed remotely

The apartment also has a separate back-of-house staff entrance with live-in staff quarters, as well as 24-hour security in the lobby, secured doors and windows, all of which are alarmed, and a CCTV system which can be accessed remotely

The property is managed by Loxone, the state-of-the-art building management system

The property is managed by Loxone, the state-of-the-art building management system

A desk overlooking London and nearby parks, with the iconic Shard building and London eye seen from the left hand side window

A desk overlooking London and nearby parks, with the iconic Shard building and London eye seen from the left hand side window

The ensuite for the master bedroom has a modern light grey finish

The ensuite for the master bedroom has a modern light grey finish

The property has original fireplaces, traditional oak flooring and the period cornicing and panelling which have been hand restored

The property has original fireplaces, traditional oak flooring and the period cornicing and panelling which have been hand restored

The property is being marketed by the luxury real estate company Dar Global - which listed on London's stock market last year - and its joint equity partner Fairway Capital

The property is being marketed by the luxury real estate company Dar Global – which listed on London’s stock market last year – and its joint equity partner Fairway Capital

The large living room allows for plenty of space for entertaining guests

The large living room allows for plenty of space for entertaining guests

The living room and formal dining area are connected with a large archway

The living room and formal dining area are connected with a large archway

The master bedroom has cabinet's on either side of the bed with custom lighting

The master bedroom has cabinet’s on either side of the bed with custom lighting

The ensuite bathroom of the master bedroom has polished Italian stone flooring

The ensuite bathroom of the master bedroom has polished Italian stone flooring

The view from the living room looking into the formal dining room

The view from the living room looking into the formal dining room

‘The finest natural materials have been used on the flooring throughout the home, Emperador marble with bronze inlay in the entrance hallway, bespoke oak parquet throughout the dining room, reception and kitchen, luxurious wool carpets and polished Italian stone flooring in the en-suite bathrooms.

‘The bespoke, dine-in kitchen has been hand crafted from Jasmine white oak, the island, worktops and splashbacks are carved from polished neolith Calacatta and the space is fully fitted with state-of-the-art Gaggenau appliances. 

‘A large bay window floods the space with natural light. There is also an additional full service kitchen for staff with large industrial sized appliances and a separate formal dining room. 

‘All five bedrooms have ensuite bathrooms and the principal bedroom has its own dressing room. 

‘The apartment also has a separate back-of-house staff entrance with live-in staff quarters, as well as 24-hour security in the lobby, secured doors and windows, all of which are alarmed, and a CCTV system which can be accessed remotely. 

‘The property is managed by Loxone, the state-of-the-art building management system. 

Around the same time the marbles arrived, Lord Elgin made the discovery that his aristocratic wife Mary had grown close to the MP Robert Ferguson (pictured). In 1807, the revelation led to an acrimonious courtroom drama which filled the newspapers of the day and would later become the basis for countless racy books - both historical and fiction

Around the same time the marbles arrived, Lord Elgin made the discovery that his aristocratic wife Mary had grown close to the MP Robert Ferguson (pictured). In 1807, the revelation led to an acrimonious courtroom drama which filled the newspapers of the day and would later become the basis for countless racy books – both historical and fiction

Lord Elgin sued Ferguson for 'seduction' of his wife Mary Hamilton Bruce, Countess of Elgin (pictured) and was awarded £10,000 ¿ a fortune worth millions in today's money

Lord Elgin sued Ferguson for ‘seduction’ of his wife Mary Hamilton Bruce, Countess of Elgin (pictured) and was awarded £10,000 – a fortune worth millions in today’s money

Ziad El Chaar (pictured), chief executive officer of Dar Global, said of the Old Park Lane residence: 'This really is a time capsule to a golden age - a special address, rich in history, situated in one of the most sought-after parts of London'

Ziad El Chaar (pictured), chief executive officer of Dar Global, said of the Old Park Lane residence: ‘This really is a time capsule to a golden age – a special address, rich in history, situated in one of the most sought-after parts of London’

‘Located in Mayfair, this apartment sits between two of the finest parks in London, St James and Hyde Park, while also close to excellent restaurants, shops and London’s finest private members clubs.’

The property is being marketed by the luxury real estate company Dar Global – which listed on London’s stock market last year – and its joint equity partner Fairway Capital. 

Dar Global develops high-end second and vacation homes in some of the most desirable locations in the world, including Dubai, Oman and Marbella in Spain. 

Last year the firm announced a £240 million partnership with Automobili Lamborghini to develop 53 luxury villas in Marbella.

Research published in the first quarter of 2023 revealed that London’s ultra-prime housing market rose by 10 per cent in unit sales and 25 per cent by value of property. 

An estimated 70 per cent of all deals worth more than £15m are currently cash purchases.

Ziad El Chaar, chief executive officer of Dar Global, said of the Old Park Lane residence: ‘This really is a time capsule to a golden age – a special address, rich in history, situated in one of the most sought-after parts of London.

‘Old Park Lane has, of course, long been synonymous with exclusive properties, but what’s becoming increasingly clear from the interest in this property is that ultra prime London is in high demand despite an otherwise muted period for real estate in the capital.’

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