The money that's flowing into VC comes from sources that look globally, so they will go where the largest opportunities are. I think we have a lot of great things going on in Europe. With Kiwi we are very successful in Berlin and now we are rolling out into Germany very successfully. But in order to really get the next step successfully, we need to prove that we can replicate in another country.
The diversity of Europe is a key asset because we have inherited different cultures, different languages, and a lot of different talents. That collectively, in cities like Berlin where we are today or London where we are based, produces fantastic results. At the same time, it creates a lot of complexity. The markets in Europe and the US are fairly similar in terms of population size, but of course it's much harder to internationalize with several languages. Yes, you do have the euro, but in some countries like Switzerland, you don't, you have different currencies.
Today European entrepreneurs want to stay in Europe and they want ability. In a sense, what we need to do is give them the capability to do that. There is no interest in people wanting to go somewhere else, so we need to make sure we have the right ecosystem and infrastructure. That involves capital but also talent, anything we can do to reduce barriers and make borders less important. This allows digital companies to expand and scale in the way that US companies are able to scale much faster by addressing the US market. That would be very attractive.
