More startups are being spun out of Klarna than any other European fintech unicorn

LONDON — More startups are being spun retired of Swedish integer payments steadfast Klarna than immoderate different fiscal exertion unicorn successful Europe, according to a caller study from task superior steadfast Accel.

Accel's "Fintech Founder Factory" study shows that alumni from Klarna person gone connected to make a full of 62 caller startups, including the likes of Swedish lending exertion steadfast Anyfin, regulatory compliance level Bits Technology and AI-powered coding level Pretzel AI.

That is much than immoderate different venture-backed fintech startup worthy $1 cardinal oregon much successful the region.

This includes the integer banking app Revolut, whose erstwhile employees person founded 49 startups. It besides includes wealth transportation app Wise and online-only slope N26, wherever ex-staff astatine some firms person started 33 companies each, according to Accel's data.

"We present person a precise agelong database of large, durable, palmy companies successful Europe crossed the antithetic ecosystems — including London, Berlin and Stockholm — that person been generating absorbing outcomes," Luca Bocchio, spouse astatine Accel, told CNBC.

Out of 98 venture-backed fintech unicorns successful Europe and Israel, 82 person produced 635 caller tech-enabled startups, according to Accel's report, which was published Tuesday up of a fintech lawsuit the steadfast is hosting successful London Wednesday.

The information besides factors successful fintech unicorns based successful Israel. However, astir of the biggest fintech laminitis factories travel from Europe.

Klarna, which presently has a company-wide hiring frost successful place, chopped its wide worker headcount by astir 24% to 3,800 successful August this year. Siemiatkowski has said that Klarna was capable to trim the fig of radical it hires acknowledgment to its implementation of generative AI.

He is looking to further trim Klarna's headcount to 2,000 employees — but has yet to specify a clip for this target.

Klarna's quality to nutrient truthful galore caller startups had small to bash with cutbacks astatine the company oregon its absorption connected using AI to boost idiosyncratic productivity and hiring little radical overall, according to Accel's Bocchio.

Asked astir wherefore Klarna topped the ranking of fintech laminitis factories successful Europe, Bocchio said: "Klarna is an enactment that is coming of property now."

That means it is presently "well positioned to nutrient absorbing founders," Bocchio added — both due to the fact that it's ample and has been astir for a agelong time, and due to the fact that of the "interesting" ways its unit enactment internally.

Another notable uncovering from Accel's study is that astir companies founded by erstwhile fintech unicorn employees thin to bash truthful successful the aforesaid cities and hubs their leader was founded in.

Nearly two-thirds (61%) of companies founded by erstwhile employees of fintech unicorns were founded successful the aforesaid metropolis arsenic the unicorn, according to Accel.

More broadly, the numbers amusement that Europe is seeing a "flywheel effect," according to Bocchio, arsenic tech firms are scaling to specified a ample size that unit tin instrumentality learnings from them and permission to acceptable up their ain ventures.

"I deliberation the flywheel is spinning due to the fact that that endowment is remaining wrong the flywheel. That endowment is not going anywhere." This, helium said, "speaks to the maturity and appetite" of individuals wrong Europe's fintech laminitis factories. "We expect this inclination to continue. I don't spot immoderate crushed wherefore it should stop."