The path to $1B and founder CV June 2024 International financial services executive search firm. Global startup & venture capital intelligence platform. Armstrong International was established in 1989, as a front officefinancial services focused executive search firm. The firm is renowned forits extensive knowledge, robust networks, and expertise in problemsolving and strategic advisory, providing an unparalleled partnership to abroad range of clients. Dealroom.co is a global intelligence platform for discovering and trackingthe most promising companies, technologies and ecosystems.Clients include many of the worldʼs foremost organizations such asSequoia, Accel, Index Ventures, McKinsey, BCG, Deloitte, Google, AWS,Microsoft, Stripe. The firm has consistently been involved in significant appointments attop tier investment banks and crucial hires at emerging funds, alwaysemphasising the long-term success and transformative impact of itsplacements.Currently,the firm employs over 25 professionalsspecialising in various sectors such as venture capital, private equity,hedge funds, investment banking, wealth management, credit, realestate, infrastructure, and portfolio company recruitment. Dealroom partners closely with local tech ecosystem developmentagencies and enablers, to create a comprehensive multi-dimensionalblueprint of the tech ecosystem, including capital, talent, innovation,entrepreneurship and overall economic dynamism. Foreword Initial market research indicates that there are currently 7,600 individualsin the UK who match this educational and professional profile. Yet, only29 of them have successfully flown the nest and gone onto build a fintechunicorn, which is about 0.3%. To illustrate the rarity of such success,consider that only 0.5% of Premier League academy menʼs players signedat age nine or younger make it into a first team squad. Similarly, out of45,000 NYU Tisch School of Arts attendees, only 214 have won a majoracting award or starred in a blockbuster, a mere 0.47% success rate. Notonly does this put into perspective the courage, grit and persistenceneeded to build a company at this kind of scale, but also makes youwonder how much untapped entrepreneurial talent there is in thesemuch larger organisations. Unlike the arts or sports, someone withenough determination can start a business at any point in their career;even over fifty! Hopefully this report will inspire one or two more talentedminds to leave the comfort of the corporate world and try their hand atbuilding a generational company." "Much of the findings within this report align with traditional thinking.Firms like Goldman Sachs and McKinsey typically attract the best andbrightest early in their careers. The ages of 24-34 are often considered anideal, relatively risk-free period in oneʼs life for launching a startup, andgiven the UK's leading role in global financial services, it stands out as theprime European market for establishing a fintech giant. However, somefindings defy expectations. For example, few fintech unicorn foundershave experience from another rocket ship company, none have droppedout of university, and notably, having several founders over the age of 50is quite an achievement. However, when you delve deeper into the statistics, they reveal theextraordinarynature of each founder necessary to distinguishthemselves in this vast talent pool. According to the report, the totalnumber of founders across 121 unicorns is approximately 276, includingboth solo founders and co-founders. The report suggests that a typicalroute to fintech stardom might involve starting a company in the UK, witheducation from the University of Oxford, London School of Economics, orÉcole Polytechnique, and early career experience atinstitutions likeDeutsche Bank, Goldman Sachs, or McKinsey. A well-trodden pathindeed. Hugh BarranHead of VC & Growth EquityatArmstrong International 2The European fintech founder CV There are now 121fintech unicornsin Europe. Only 2 fintech startups achievedunicorn status in 2023,compared with 41 in 2021. 7 of them have lost theirunicorn status. European fintech unicorns are now worth $445B. The UK created4x more Fintechunicorns thanany otherEuropeancountry. France, Netherlandsand Germany are closelytied for the remainingtop spots. Top investors infintechunicorns. European generalists backedthe most fintech unicorns atearliest stages, alongside afew US VCs. At later stages, Series Bonward, the most activebackers have been globalfunds, with the exceptionof Eurazeo. 1Fintech unicorns in Europe2The European fintech founder CV Two thirds ofall unicornshave 2 or 3founders, while4+ co-foundersare rare. Despite “myths” of problemsfor single founders, over20%+ of European fintechunicorns have sole founders. Most fintechunicornfounders were24-34 years oldwhen startingtheir venture. 50+ years old founders arerare but still present.The 20 years old universitydropoff is mostly a mythinEurope. 61% of fou