The Europas Grand Prix Winner to be offered £50,000 convertible note

Posted by By Mike Butcher at 27 October, at 08 : 00 AM Print

It’s our pleasure to announce that pan-European VC DFJ Esprit is to offer a £50,000 convertible loan to the Grand Prix winner of The Europas Tech Startup Awards.

The loan (often called a convertible note) will convert into equity at the startup’s next funding round on the same terms as the new investor (i.e. no discount) and will not be interest bearing. The loan will be ‘plain vanilla’ in all other respects (i.e. no additional rights). The winner will have a week to decide whether to take the loan or not.

It’s just another sign the European tech scene has never looked better. See you on the night in London, November 17!

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