Netherlands startups stall after seed 10% more often than Sweden peers
- 54.8% of Dutch seed startups raised only one round
- 44.7% of Swedish seed startups raised only one round
- Netherlands shows a 10.1 percentage point higher seed stall rate
Across the 2,462 startups Brouky tracks whose first tracked round was at least two years ago, the Netherlands exhibits a notably higher share of seed-stage startups that raised exactly one round and never raised again. Specifically, 54.8% of Dutch startups stalled at seed stage, compared to 44.7% in Sweden. This 10.1 percentage point gap highlights a stronger relative momentum for Swedish startups to progress beyond seed funding, though this may partly reflect expanding data coverage.
The analysis excludes startups younger than two years to allow sufficient time for follow-on raises. While the single-round rate is inflated by potential untracked rounds, the cross-country comparison remains valid under these conditions. The Netherlands also shows a higher overall single-round share of 57.3%, versus 50.9% for Sweden, confirming a broader pattern of earlier funding plateaus.
At the pre-seed stage, the stall rates are closer, with 54.2% in the Netherlands and 51.8% in Sweden. This suggests the divergence in follow-on funding momentum becomes more pronounced at the seed stage. The data implies Swedish startups more frequently secure second rounds after seed compared to their Dutch counterparts.
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