For decades, European tech insiders have looked across the Atlantic with a mix of admiration and frustration.
The sentiment fuels calls for Europe to replicate Silicon Valleys model.
But Vidya Peters, CEO of Dutch unicorn DataSnipper, argues this approach is flawed.
Rather than merely mimicking US tech, she urges startups and scaleups to embrace Europes strengths.
A key one is sustainable, long-term growth.
Five years ago, it wasnt very fashionable to be profitable, Peters tells TNW.
It’s free, every week, in your inbox.
DataSnipper is a prime example.
The company was profitable early on, scaled rapidly, and recently hit a $1bn valuation.
Ahead of her headline talk atTNW Conferencein June, Peters shared a few secrets behind the companys success.
We review and look at their data to provide insights, but that data is theirs.
The company must also abide by the EUs stringent data laws.
Critics argue that these rulesstifle innovation, but Peters points to the advantages.
DataSnipper also has roots in another European hallmark: a bar in Amsterdam.
From Amsterdam to the world
In 2017, Maarten Alblas and Jonas Ruyter were having a beer.
Joining them was a friend who worked in auditing for KPMG.
He faced a common affliction in his profession: an enormous spreadsheet that required painstaking scrutiny.
Alblas and Ruyter believed software could ease his suffering.
The idea led to the founding of DataSnipper.
Their software proved a hit with auditors.
Soon, their user base had spread from the Netherlands to the UK and Germany.
After finding success inEurope, they targeted new markets beyond the continent.
To further fuel the growth, the company appointed Vidya Peters as CEO in 2023.
She joined with expertise honed in Silicon Valley, most recently as Chief Marketing Officer of MuleSoft.
She later gained extensive experience of Europes tech landscape.
In 2019, she served as Chief Operating Officer of Marqeta, a payment processing firm.
Again, she helped her company go public.
In 2022, Marqeta made its market debut on the Nasdaq.
The company ended the day with a market cap of over $16bn.
At DataSnipper, she set her sights on accelerating growth and global expansion.
The strategy has reaped rewards.
In 2024, Deloitte named DataSnipper thefastest-growing tech companyin the Netherlands for the second year in a row.
Last month, the business reached the coveted unicorn status after raising $100mn at a $1bn valuation.
Over 500,000 audit and finance professionals across more than 125 countries now use the software.
As DataSnipper scaled, the company benefited from another European advantage: access to international talent.
DataSnippers talent pipeline
People undervalue the ability to hire from across the world here, says Peters.
DataSnipper has directly benefited from this access.
Peters describes this as a secret weapon for European startups and scaleups.
A diverse range of people now work for DataSnipper.
Inthe companys Amsterdam headquarters, 70% of employees are from outside the Netherlands.
DataSnippers global outlook has been instrumental in its expansion.
Despite its global expansion, DataSnipper remains firmly rooted in the Netherlands.
One of the countrys many attractions is a simple matter of time.
People forget that America is not the heart of the world, says Peters.
it’s possible for you to wake up in Europe and sell to Asia Pacific.
And after your lunch, you could sell to the US.
Funding is another hurdle.
European VCs tend to bemore risk-averse, making capital harder to secure.
Yet the European VCs were not reaching out.
For DataSnipper, that wasnt a big problem.
Nonetheless, Peters was surprised: where were the European investors?
With curious timing, they started reaching out after the funding was announced.
Was it the risk appetite?
What was it that made them a little bit more cautious?
These are common questions in European tech.
But startups and scaleups dont need to wait for the answers.
Peters advises them to think beyond borders.
Dont be limited to the country you are in or to Europe, she says.
Reach out to VCs all over the world.
When that happens, Peters hopes that Europes investment landscape will shift to a braver funding model.
But even if it doesnt, companies across the continent can forge their own paths to success.
Vidya Peters will provide further insights atTNW Conference, which takes place on June 19-20 in Amsterdam.
Tickets for the event arenow on sale.
To get 30% off, use the code TNWXMEDIA2025 at the checkout.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
