💳 Klarna fires 10% of its team. The Swedish BNPL giant is set to make significant cuts to its headcount, according to a recent announcement by CEO Sebastian Siemiatkowski. Amid a valuation crunch and a global economic downturn, the CEO says the company needs to double down and focus on its core business.
🛒 Gorillas fires half its employees at HQ. The speedy grocery delivery startup has halved its headcount at its Berlin headquarters to lower costs while it raises additional funding. The company will pull out of Italy, Spain, Denmark and Belgium, and plans to focus its energy on creating revenue in its five core markets: Germany, France, UK, Netherlands and the US.
🧠 French mental health startup raises €15m Series A. Moka.care, a French startup that offers a platform that connects employees to therapists and coaches, has raised a $15m Series A led by Left Lane Capital. The round also attracted backing from VCs and celebrities alike, including three famous French sportsmen: Blaise Matuidi, Antoine Griezmann and Antoine Dupont.
🌍 Sequoia announces Arc accelerator cohort. Earlier this week, the VC launched its first startup accelerator programme, Arc. Seventeen companies and 33 founders have been selected to participate in the eight-week course, during which they will learn how to build enduring businesses from some of Europe’s top founders and operators.
🏦 Smart locker startup Budbee raises $40m to extend bank loans. The Swedish last-mile delivery company has just raised a $40m round from existing investors Kinnevik, H&M and CNI Nordics, as well as employees. It needed the cash to extend and increase the size of the bank loans it's been using to scale.