DataSnipper CEO: Europe doesn’t need to replicate the Silicon Valley model.

      For many years, European tech insiders have gazed across the Atlantic with feelings of both admiration and frustration. Enviously eyeing the wealthy venture capitalists, a vast consumer market, and a talent pool of elite professionals, they often regard the US as a promised land for business expansion. This sentiment has led to calls for Europe to replicate the model of Silicon Valley. However, Vidya Peters, CEO of the Dutch unicorn DataSnipper, contends that this approach is misguided.

      Instead of simply imitating US technology, she encourages startups and scale-ups to leverage Europe’s unique strengths, such as a focus on sustainable, long-term growth. “Five years ago, being profitable was not very trendy,” Peters tells TNW. “But I believe European sensibility is a strength here, as European companies have historically adopted this strategy, which is now highly valued in today’s economic environment.”

      This stands in stark contrast to Silicon Valley’s aggressive growth strategy. European companies are already reaping the rewards of this differentiated approach. “When you observe some of these companies, their growth and competitive edge are much more resilient,” Peters states.

      DataSnipper exemplifies this model. The company achieved profitability early, grew rapidly, and recently reached a valuation of $1 billion. In anticipation of her keynote address at the TNW Conference in June, Peters shared some insights into the company’s achievements.

      One of these insights ties back to another European stronghold: data protection. Privacy and security are fundamental aspects of DataSnipper’s core offering—an AI-driven platform that automates repetitive finance and audit tasks.

      “It has been extremely important for our clients that we do not train our AI with their documents and data — this principle has been central to how we developed our products,” Peters explains. “We analyze their data to provide insights, but the data remains theirs.”

      The company must adhere to the EU's strict data regulations. Critics claim that these regulations hinder innovation, but Peters sees advantages in them. “Europe truly has the chance to lead in this domain by harmonizing innovation with customer data protection,” she asserts.

      By integrating safety and transparency into AI, startups and scale-ups can establish a competitive advantage over their US counterparts. “Building from a foundation of trust allows European companies to attract customers in a way that American firms might struggle to replicate.”

      DataSnipper also has origins in another European trait: a bar in Amsterdam.

      In 2017, Maarten Alblas and Jonas Ruyter were enjoying a beer when a friend working in auditing for KPMG shared a common challenge in his industry: an enormous spreadsheet that required tedious examination. He had to sift through the document for invoices, bank statements, and receipts while cross-referencing the data.

      Alblas and Ruyter believed software could alleviate his burden. They arrived at a solution: an intelligent automation platform that would significantly enhance the quality and efficiency of standard audit procedures, leading to the creation of DataSnipper.

      Their software quickly gained popularity among auditors. Before long, their user base expanded from the Netherlands to the UK and Germany. Following their European success, they set their sights on markets beyond the continent.

      To further accelerate growth, DataSnipper appointed Vidya Peters as CEO in 2023. She brought with her experience from Silicon Valley, most notably as Chief Marketing Officer at MuleSoft, where she contributed to the company going public on the NYSE before it was acquired by Salesforce for $6.5 billion.

      Peters also gained extensive insights into the European tech landscape during her tenure as Chief Operating Officer at Marqeta, a payment processing company, where she facilitated its public offering on Nasdaq in 2022, culminating in a market cap of over $16 billion.

      At DataSnipper, her focus is on spurring growth and global expansion, a strategy that has yielded significant outcomes. In 2024, Deloitte recognized DataSnipper as the fastest-growing tech company in the Netherlands for the second consecutive year. Last month, the company achieved unicorn status after raising $100 million at a valuation of $1 billion, with over 500,000 audit and finance professionals across more than 125 countries now utilizing the software.

      In its growth, DataSnipper has also taken advantage of another European asset: access to international talent.

      “Many underestimate the ease of hiring from a global talent pool here,” Peters comments. DataSnipper has leveraged this benefit, easily hiring global talent on visas from the Netherlands, which Peters describes as “a secret weapon” for European startups and scale-ups. “With the visa opportunities in Europe, obtaining work visas is significantly simpler than in the US.”

      Currently, DataSnipper employs a diverse array of individuals, with 70% of its staff in Amsterdam hailing from outside the Netherlands. “This diversity is incredibly valuable, as it equips us with speakers of all the languages necessary for selling in Europe, and we can attract them right here in Amsterdam,” Peters says.

      DataSnipper’s international