McKinsey alumni-founded unicorns 2023: Europe

80 alumni-founded unicorns . . . and counting

McKinsey alumni-founded unicorns 2023: Europe

The European startup scene is buzzing with McKinsey alumni-founded companies worth over $1 billion, with 17 unicorns founded in 7 different countries. Spanning various industries, from fintech to apparel, alumni-founded unicorns are disrupting traditional business models and are creating innovative solutions to meet the needs of consumers in the region. Read on to see who made the list.

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Cabify

Adeyemi Ajao de Miguel (MAD 06-08)
Headquarters: Madrid
Value: $1.4B (Public information from Mar. 2023)

Adeyemi Ajao de Miguel is a founding investor of Spanish ride-sharing company Cabify. Cabify provides a platform that allows users to book rides through a mobile app or a secure income stream for drivers.

Since launching in Madrid in 2011, Cabify has expanded operations into Latin America, serving over 40 cities in 7 countries and over 50,000 corporate customers. The company reached carbon neutrality in 2018 and plans to fully electrify its fleet globally by 2030.

Delivery Hero

Nikita Fahrenholz (BER 08-09, 09-10)
Headquarters: Berlin
Value: $5.14B at IPO (Public information from Jun. 2017)

Nikita Fahrenholz co-founded Delivery Hero in 2011 to make food delivery more convenient and accessible for customers worldwide. Delivery Hero operates in over 70 countries today, serving 2.2 billion customers with a wide range of food options.

The company celebrated its IPO on the Frankfurt Stock Exchange in 2017. In 2022, the company launched the Innovations Hub, a development platform to test new technologies and business models. Delivery Hero announced in 2023 that their Middle East and North Africa subsidiary Talabat launched the region's first generative AI-powered grocery shopping assistant.

GoCardless

Matt Robinson (LON 08-10) and Hiroki Takeuchi (LOX 08-10)
Headquarters: London
Value: $2.1B (Public information from Feb. 2022)

Matt Robinson and Hiroki Takeuchi co-founded GoCardless to give businesses a faster, cheaper, and more secure payment alternative. The company provides a payment processing platform allowing businesses to collect recurring customer payments through direct debit. GoCardless' platform offers automated payment collection, tracking, and customer management features.

GoCardless has developed a network of over 2,300 banks across the U.K. and Europe, serving over 75,000 businesses. The company acquired the banking data and insights platform Nordigen in 2022 and relaunched it in 2023 as the GoCardless Bank Account Data API.

Gruppo MutuiOnline

Marco Pescarmona (MIL 95-98, 99-00)
Headquarters: Milan
Value: $1.3B after IPO (Public information from Sep. 2023)

Gruppo MutuiOnline is a financial services company co-founded by Marco Pescarmona to elevate Italy’s credit market through innovative tech solutions. The company launched in 2000 as MutuiOnline, the first mortgage broker in the Italian market, and has since grown into a retail credit and insurance brokerage powerhouse. Through fourteen portfolio companies, Gruppo MutuiOnline gives borrowers access to retail mortgages and loans, personal loans, and insurance products, including market aggregation and comparison solutions.

Gruppo MutuiOnline became publicly traded on the Italian Stock Exchange in 2007. The company’s recent acquisitions of car insurance comparison companies Rastreator and LeLynx have expanded Gruppo MutuiOnline’s international presence in Spain, France, and Mexico.

InnovaFeed

Aude Guo (PAR 10-10, 12-16) and Clement Ray (PAR 11-12, 12-16)
Headquarters: Paris
Value: $1-1.6B (Dealroom.co estimate from Sep. 2022)

Aude Guo and Clement Ray teamed up to start InnovaFeed, a leading biotech company specializing in producing insect-based protein for animal feed. InnovaFeed uses innovative technology to produce sustainable, high-quality protein from the Hermetia Illucens fly that is cost-effective and environmentally friendly.

Since launching in 2016, InnovaFeed has introduced three protein value-chains: trout, poultry, and pork. The company operates two production sites, making it the largest insect production capacity in the world, and has secured €490 million in funding.

Job&Talent

Felipe Navío (MAD 05-05, 06-08)
Headquarters: Madrid
Value: $2.4B (Public information from Dec. 2021)

Felipe Navío is the founder and CEO of Job&Talent. Launched in 2009, Job&Talent is a Spanish staffing and recruitment platform offering a range of services for employers and job seekers, including job matching, payroll management, and HR consulting. “Our main objective is to simplify job search and hiring through innovation, serving as the foundation for driving bigger change across the industry,” explains Felipe. “As we drive progress in the temporary work industry, we remain convinced that technology should augment rather than replace human centricity.”

Job&Talent became a unicorn in 2021 and has raised $880 million in total funding. The company has connected over 340,000 workers as of 2022 and announced a 90% revenue increase of €1.9 billion in 2022.

ManyPets

Steven Mendel (FIR, LOK, LON 98-04)
Headquarters: London
Value: $2.4B (Public information from Jun. 2021)

ManyPets is a pet insurance provider co-founded by Steven Mendel to provide affordable and comprehensive insurance coverage for pets. The company offers a range of insurance policies for cats and dogs, providing pet owners with peace of mind and financial protection in case of unexpected veterinary bills.

ManyPets covers over 400,000 pet owners, was named the number one pet insurance for 2023 by Forbes, and has earned a 4.5 rating on Trustpilot. The company reached unicorn status in 2021.

On

Caspar Coppetti (ZRH 01-03)
Headquarters: Zürich
Value: $7.3B at IPO (Public information from Sep. 2021)

On is a Swiss sports footwear and apparel company co-founded by Caspar Coppetti in 2010. The company specializes in creating innovative running shoes and apparel that combine performance, comfort, and style.

On has gained popularity among professional athletes and running enthusiasts worldwide, with over 7 million athletes in 50 countries wearing the brand. The company launched its IPO in 2021.

Pleo

Jeppe Rindom (COP 04-05)
Headquarters: Copenhagen
Value: $4.7B (Public information from Dec. 2021)

Jeppe Rindom is the co-founder and CEO of Danish fintech Pleo. Launched in 2015, Pleo helps businesses simplify their expense management processes and improve financial transparency. The company provides a smart company card that automates expense reports and provides real-time spending insights and analytics for businesses.

Pleo reached a billion-dollar valuation in 2021 and has raised $426 million in funding. The company operates in 16 European countries and serves more than 25,000 customers.

Qonto

Alexandre Prot (PAR 06-11)
Headquarters: Paris
Value: $4.8B (Public information from Apr. 2022)

Alexandre Prot is the co-founder and CEO of Qonto, a French fintech launched in 2017 to provide a modern and efficient banking solution for businesses. Qonto provides a digital banking platform for businesses, offering a range of financial services such as online banking, expense management, and invoicing. The platform is designed to simplify the financial management process for businesses, with features such as real-time transaction tracking and automated accounting.

Qonto has grown its customer base to 400,000 companies and raised over $689 million in funding. The company was named to the French Tech Next 40 and reached unicorn status in 2022.

Raisin

Frank Freund (BER, MUN 07-07, 08-12), Tamaz Georgadze (BER, FRA 03-13), and Michael Stephan (MUN 07-07, 09-12)
Headquarters: Berlin
Value: $1.1B (Public information from Mar. 2023)

The alum trio of Frank Freund, Tamaz Georgadze, and Michael Stephan launched Raisin 2012 to revolutionize how people save and invest their money. Through Raisin, customers can easily compare and invest in savings products from a network of partner banks, providing access to higher interest rates and better returns.

Raisin made the jump from “soonicorn” to unicorn in 2023. The company has grown its partnership network to over 400 financial institutions, reaching over 1 million customers in over 30 markets globally, and reports over $40 billion in assets under advisement. Raisin boasts the highest number of McKinsey alum founders of any unicorn company.

Razor Group

Oliver Dlugosch (DUS 14-19)
Headquarters: Berlin
Value: $1.2B (Public information from Apr. 2023)

Oliver Dlugosch is the co-founder and COO of Razor Group, an e-commerce house of brands founded in 2020 to usher in a new wave of household brands. Razor specializes in acquiring and scaling high-potential businesses, providing them with the resources and expertise needed to grow their brands at a global scale.

Razor’s ecosystem has grown to over 200 brands and reached over 1 million customers, with over $1 billion invested and backed by leading investors, including Blackrock and 468 Capital. The company reached unicorn status in 2021.

Scalable Capital

Mato Peric (HAM 08-11)
Headquarters: Munich
Value: $1.4B (Public information from Jun. 2021)

Mato Peric is a founding investor for Scalable Capital. This German digital investment management company provides personalized investment portfolios to its clients based on their individual risk profiles and investment goals. Scalable Capital's proprietary technology allows for efficient portfolio management and risk monitoring while providing clients real-time access to their investments.

Since launching in 2014, Scalable has expanded to six European markets, with over 600K using their services, and reports $15 billion in client assets.

TravelPerk

Ron Levin (AMS 08-11)
Headquarters: Barcelona
Value: $1.2B (Public information from Jul. 2023)

Ron Levin co-founded this Spain-based travel management company in 2015 to simplify and streamline the business travel experience for companies by letting them manage and book their travel arrangements in one place. TravelPerk's platform provides access to a range of travel options, including flights, hotels, and rental cars, and offers features such as expense management and travel policy compliance.

TravelPerk became a unicorn in 2021 and has raised $427 million in funding from investors, including Spark Capital and Kinnevik. In 2022, the company announced a partnership with fellow alum-founded unicorn Pleo to create a new API that integrates Pleo’s expense solution with TravelPerk.

Tripledot Studios

Akin Babayigit (STA 04-06)
Headquarters: London
Value: $1.4B (Public information from Feb. 2022)

Akin Babayigit is the co-founder and COO of mobile game developer Tripledot Studios. The studio creates fun and engaging phone games that players of all ages on Android and iOS devices can enjoy. With a focus on innovation and creativity, Tripledot Studios has become a leading name in the industry, developing new hit games and putting unique spins on classic games like Woodoku, Triple Tile, and Solitaire Stories.

Launched in 2017, Tripledot achieved profitability within its first year. The company reached unicorn status in 2022 and recently topped the Financial Times’ FT 1000 list of Europe’s Fastest Growing Companies.

Younited

Geoffroy Guigou (PAR 04-06)
Headquarters: Paris
Value: $1.2B (Public information from Dec. 2022)

Geoffroy Guigou is the co-founder and COO of Younited. This France-based fintech launched in 2009 to disrupt the traditional banking industry by offering a more transparent and customer-centric approach to lending. Younited provides consumer loans through its online platform, using a proprietary credit scoring algorithm to assess borrowers' creditworthiness. Younited's platform offers instant loan approval, competitive interest rates, and flexible repayment options.

More than 1 million customers across 5 European countries have received access to Younited’s credit service. The company became a unicorn in 2021, generated an estimated gross merchandise value of $1.8 billion for 2022, and has a 4.8/5 Trustpilot score.

Ed. note: We’d also like to acknowledge: Bending Spoons, co-founded by Luca Ferrari (COP, CPB 10-12); Sven Schütt (HAM 02-04) of IU Group.

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