Ten European startups are building without venture capital and keeping control
Ten European startups founded from 2021 onwards are building their businesses without outside investors, according to a list published by EU-Startups in November 2026. They include Chatarmin in Vienna, Submagic in Paris, Herodesk in Aarhus and Freda in Stockholm, and work across legal technology, construction, customer service, sustainability and digital marketing. The list gives founding years and locations but no revenue figures.
Independence from investors carries a cost that no spreadsheet records. Bootstrapped founders keep greater control over their businesses and can put profitability first, yet they accept limited resources and the pressure to generate revenue early. The measure of progress shifts from funding attracted to useful products, lasting customer relationships and control over decisions, while the EU-Startups list leaves open what that control has cost each founder.
Source: EU-Startups · November 3, 2026