What happens in the startup scene in The Netherlands right now? Find out in another Dutch startup news update!
News & Updates
Cheapcargo acquired by PostNL
The online comparison website CheapCargo for sending and transporting packages and portfolio company of Peak Capital has been acquired by PostNL. Financials details about the acquisition have not be disclosed. The company will continue to exist independently under the guidance of its current management. CheapCargo received growth investment from Peak Capital in 2010.
Taxi sharing service Abel stops
Taxi sharing service Abel announced last week that it has closed its doors. The Uber-alternative, launched by public transport company Transdev, said in a statement that ‘hefty competition and overcapacity in the Amsterdam taxi market’ forced it to take this decision. Transdev, the parent company of Dutch regional bus firm Connexxion, plans to use the Abel technology to improve its public transport services.
Fintech startup CashWijzer pulls the plug
In the hope to help customer to switch from too expensive contracts to less expensive ones, Marieke Spaan and Nina Meiling launched 2014 the fintech startup CashWijzer. Now, despite having saved its 500 clients more than half million euros, they have decided to shut down their services. “Despite these and many more accomplishments we have unfortunately not been able to build a scaleable business”, Spaan and Meiling said in a email announcement about end of the startup.
Funding
AI analytics startup Quantib raises €4.5M for better diagnoses
Rotterdam-based AI startup Quantib has raised 4.5 million euro in a round led by Holland Venture and InnovationQuarter. Quantib develops machine learning medical imaging applications that allow physicians and researchers to make more accurate diagnoses more efficiently. The investment allows the startup to bring new ML applications to the market and expand internationally.
iWelcome lands Series C investment led by Connected Capital and Capnamic Ventures
iWelcome is a Identity & Access Management as-a Service (iDaaS) vendor that has built quite some traction sinds its founding in 2011. The undisclosed amount of Series C funding will be used to unlock target markets across Europe and market iWelcome as innovation and product leader. iWelcome operates in the so-called Consumer Identity and Access Management (CIAM) space. A growing market where iWelcome enables seamless connections in online ecosystems businesses build, while safeguarding peoples privacy.
Monday Read
The Only Product Metric that Matters
In the startup world there is a lot of the debate about what’s the most important element for success. Timing, product or market. The likes of Marc Andreessen argue it’s market. I challenge this. It’s product, because done correctly a good to great product satisfies a big market demand or pivots to it. The latter refuting the timing argument. So if you’re focusing on building a great product, how do you know you’re building a product for a big market? By analysing whether people are using your product. Josh Elman maks actionable in this great Mind the Product. He breaks it down into three key metrics. All them coming together in the following question: How many times do your users perform the core action on the expected cycle? Try to answer this question for your product.
Photo by Fabian Blank on Unsplash