Hello and welcome back.

Revolut is targeting a $200bn IPO, Lovable has been dealing with a data breach, and there’s been four new funds announced.

Read on.

My first EVER event is in June. It’s aimed at the 30-40 of the best Heads of Sales (or similar) in London and will be about how to scale from $1m to $20m of ARR. It’s in collaboration with Seedcamp.

Introducing Mishcon de Reya, the latest sponsor of Scaling Europe.  

Operating at the heart of global innovation hubs across the golden triangle in the UK (London, Oxford and Cambridge), Dubai, Hong Kong and Singapore; we're delighted to give subscribers access to their market perspective and expertise.  

Mishcon has strengthened its capability in the Innovation Economy, supporting companies across the entire innovation lifecycle — from university spin‑outs to listed global operators. The firm provides wraparound legal expertise for every opportunity and challenge, including fundraising, hiring and incentivising talent, complex disputes, IP and brand protection, and managing private wealth. 

Mishcon brings to Scaling Europe and its subscribers: 

As scaling Europe subscribers, you now have access to a free 30-minute pop-up session on the next opportunity/challenge your business is facing. In each newsletter, you'll receive a new market perspective in one of its key sectors or territories as well as resources to help you navigate highlighted challenges and opportunities. Expect to hear from companies that Mishcon are supporting to scale through the podcast too. 

Book 30 minutes with Mishcon

This week I published interviews with:

The Scaling Europe show is sponsored by SurrealDB, Airwallex, Chargebee and Mishcon De Reya, presented by Deel - check them out here.

This week Founder and CEO Nik Storonsky stated that the Fintech will not IPO until 2028 at the earliest. At the point of IPO the company will be targeting a market capitalization of between $150 and $200 billion.

Storonsky has a compensation package in place which states that if the company achieves a $200 billion valuation he will be in line for a huge payday. His overall stake in Revolut would increase to 40%, meaning he'd have a net worth of $80bn, making him the richest person in the UK.

The company is also reportedly targeting a $100Bbnsecondary sale this year, which would see two of its largest investors, Balderton and Index Ventures, cash out.

Check out the FT article here.

The UK startup, founded in 2024 by Chad Edwards and Max Welling, is building a generative AI platform to accelerate the discovery and design of new materials.

Yazhou Sun of Bloomberg is now reporting that the company is raising $200m at a valuation "well above $1 billion". The company has already partnered with the likes of Nvidia, ASML and Hyundai.

It’s on track to be one of Europe’s breakout companies of 2026.

Read more here.

This week the company had to deal with a data breach.

It turned out that free users has been able to access other customers’ chat histories and personal information that were tied to public projects.

Initially the company denied it was a data breach but has since apologised and taken accountability.

Read more here.

If you were building a global financial system from first principles today, you wouldn't build it on 50-year-old legacy rails. You'd build Airwallex.

It's the single platform for global accounts, cards, and payments that treats the entire world like a local market — no hidden FX fees, no fragmented banking relationships, no legacy tax slowing you down.

More than 200,000 businesses worldwide already have. Stop paying for infrastructure that wasn't built for you, and start building the future at airwallex.com. Airwallex. Build the Future.

Check it out here.

If you’ve got this far you should DEFINITELY subscribe to my daily newsletter here.

Thank you.

Seb