New SF 🚀
local news 📰
🏎️ The Union Jack takes the podium, and it's not even a British Grand Prix weekend yet. London has created seven of Europe's ten most valuable tech firms.
The UK ranks second globally for startup investment so far in 2022, after just the United States and ahead of both India and China for the first time.
🇺🇸 US $124.4B 🇬🇧 UK $15.6B 🇮🇳 India $14.8B 🇨🇳 China $11.8B
The cost of a cyber-attack can be significant, with the average cost of data breaches in 2019 reaching $3.92 million USD per organization and an estimated total cost of $6 trillion USD globally by 2021. The insurance industry is struggling to keep up with the pace of change and innovation. Cyber insurance policies have become more expensive as companies have been forced to purchase them in order to protect themselves from the financial consequences of data breaches and other cyber-attacks. As the world becomes more digital, the need for comprehensive cyber insurance will continue to grow. In order to meet this demand, insurers must evolve their products and services to better address the unique risks associated with our increasingly interconnected world.
Cyber insurance startups have experienced a 200%+ increase since 2020. The main challenges for these startups are new and hard-to-predict risks, as well as the extent of damage from a single breach. A breach in the supply chain can lead to product defects or loss of revenue.
cash flow 🤑
Pave announced Tuesday that it has raised $100 million in a Series C round of funding. Index Ventures led the funding round for Pave, which has resulted in Pave becoming a new unicorn at a $1.6 billion valuation.
London-based BNPL startup Hokodo has raised $40 million in a Notion Capital-led Series B round, the company announced Monday.
Allica Bank has just secured £55 million in new funding. This comes just seven months after raising £110 million in its Series B.
Playter, a company that offers borrowers the option to pay back their loans over time rather than all at once, has raised $55 million in both debt and equity.
twitter spotlight 🔦
Get excited... @genzvcs is launching our mentee applications 😎💫
We plan to make VC more accessible for the next generation ✨💖
Open to students, recent grads & early career folks looking to learn about VC investing, platform, & more.
Apply here! forms.gle/KKFmRrN33pj3sQ…
— Meagan Loyst 🧚♀️ (@meaganloyst)
Jun 28, 2022
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