European IPO Market Faces Significant Slowdown in 2024

In 2024, European technology startups are facing a slight decline in venture capital funding, expected to reach $45 billion, down from $47 billion last year and significantly lower than the 2021 peak of $101 billion. Despite this downturn, over 100 companies are preparing for initial public offerings (IPOs), with only 11 completed so far this year, marking the lowest number in a decade. Notable potential IPO candidates include UK fintech firms Revolut and Zopa, and Estonian ride-hailing company Bolt, as well as Klarna, which recently filed for a US listing. Atomico's analysis indicates that many of these firms are maturing towards public readiness, with a third already appointing chief financial officers. Expectations for a resurgence in IPO activity are optimistic, with forecasts suggesting growth in the second half of 2024 and a potentially strong 2025 ahead. The shift toward public offerings could redefine Europe's economic landscape, fostering innovation and competition in the tech sector.