Red Rooster Dispatch #3: Klarna and ElevenLabs invest in Poland and H - does it stand for "(over)hyped" or for "hot topic"?
Dear Readers!
The past month has been nothing short of eventful, both globally and locally. The U.S. elections captured the world's attention and closer to home, it was an exciting time for our team as we took part in the Warsaw Finance Week, organized by Fintech Poland.
In this edition of our newsletter, we’ve curated a recap of some of the most intriguing stories from the past month. So grab a coffee, settle in, and enjoy the read!
#1: Klarna Expands to Poland with Flexible Payment Options
Swedish fintech leader Klarna has launched its "buy now, pay later" (BNPL) services in Poland, offering customers the ability to defer payments for 30 days while merchants receive immediate transfers. Competing with local BNPL options like Allegro Pay and Twisto, Klarna sets itself apart with a user-friendly mobile app and partnerships with global retailers such as Nike and Ikea.
Operating in 17 countries and partnering with over 250,000 merchants, Klarna’s entry into Poland aligns with its global growth strategy. Valued at $45.6 billion, the company aims to bring its innovative payment solutions to this promising market, prioritizing transparency and convenience to win trust and drive adoption.
Commenting exclusively for Red Rooster Dispatch, Matthieu Bondu, Business Development Lead for Klarna Poland, emphasized: “Klarna's decision to establish a tech hub in Warsaw highlights the vibrancy of Poland's tech ecosystem, renowned for its engineering talent and innovation. This new hub is set to strengthen collaboration between local AI experts and one of the world's most influential fintech companies, further solidifying Warsaw's emergence as a key European technology hub.”
With its BNPL launch and the establishment of a tech hub, Klarna is not just entering the Polish market but actively investing in its future as a fintech and innovation hotspot.
Read more: “Polska będzie potęgą technologiczną w Europie”. Klarna zatrudni setkę talentów. (Bizblog Spidersweb)
#2: Startup Pathway Secures $10M to Drive Global Growth
Polish start-up Pathway has successfully raised $10 million in a funding round led by prominent international investors, showcasing Poland's growing influence in the global tech ecosystem. The company, specializing in advanced data-streaming solutions, plans to leverage this capital to expand its international presence and refine its innovative platform.
This milestone highlights Pathway’s strategic vision and the trust investors place in its groundbreaking technology. As the start-up strengthens its footprint, it further cements Poland's reputation as a hub for impactful innovation.
#3: ElevenLabs Invests $11M in Poland's AI Innovation
ElevenLabs, a leader in generative AI audio technology, has announced an $11 million investment to bolster Poland’s AI industry. The company will open its European headquarters and R&D center in Warsaw, aiming to hire 30 new employees in 2025, with plans to grow the team by 100 in the following years. The co-founders, both Polish entrepreneurs, are committed to leveraging Poland's talent to advance AI and support the country's cultural and educational sectors.
This move underscores Poland’s potential to become a global leader in audio AI, with ElevenLabs continuing to innovate through AI-powered voice generation tools used across various industries, including media and gaming.
#4: Polish Telecare Technology Delivers 14,000 Life-Saving Interventions in a Year
SiDLY, a Polish telecare solution, has made a significant impact by managing 14,000 life-saving and health-supporting calls within its first year. Expanding to international markets like Italy and France, the system offers seniors enhanced safety through wearable devices, enabling timely emergency responses and fostering greater independence. This success underscores the growing importance of telecare solutions in supporting aging populations across Europe.
#4: Axeleo Capital Raises €125 Million for Green Tech Fund
Paris-based Axeleo Capital has secured €125 million for its Green Tech Industry I fund, which focuses on supporting innovative green technologies in Europe. The fund, backed by investors like Bpifrance and Révolution Environnementale et Solidaire, aims to provide crucial funding for the early-stage industrial scale-up of start-ups in sectors such as energy, chemicals, agriculture, and mobility. Axeleo’s goal is to help decarbonize industries and support sustainable innovation, with a final target of €250 million for future investments.
#5: What Is H? The French AI Start-Up Making Waves
H, a Paris-based start-up founded by former Google DeepMind veterans, aims to develop artificial superintelligence (ASI). It recently launched an AI agent to automate business tasks, claiming it outperforms competitors like Anthropic while being more cost-effective.
Backed by investors including Bernard Arnault (LVMH) and Xavier Niel (Iliad), H raised €210 million before selling a product. With a focus on efficiency and affordability, H is set to challenge the AI industry.
#6: The Hottest Topics on the Paris Stock Exchange – An Expert Interview
Last but not least: We would like to turn your attention to an interview with Rafał Dobrowolski, fund manager of Global Innovation FIZ at AgioFunds TFI.
In this insightful conversation, Mr Dobrowolski discusses the hottest topics on the Paris stock exchange, from opportunities in undervalued small and medium-sized companies to the challenges facing luxury giants like LVMH. He explores the impact of rising defense spending, the resilience of banking stocks, and the struggles of tech firms like Ubisoft. With his expert perspective, you’ll gain a deeper understanding of the trends shaping the French market and discover where to look for the most promising investment opportunities.
Find out more: Giełda w Paryżu kusi inwestorów tanimi spółkami technologicznymi. (XYZ.pl)
Last week, La French Tech Warsaw had an incredible experience at Warsaw Finance Week. From November 17th to 20th, we were at the heart of this major event, driving discussions on innovation, finance, and French-Polish collaboration.
Curious about the highlights? From thought-provoking panels to an exclusive evening at the French Ambassador’s residence, there’s so much to share.
Read more in our LinkedIn post and discover how we’re fostering innovation and collaboration within the French-Polish tech community.