Pro Weekly: Non-U.S. Creator Startups Face Their Own Funding Struggles

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When streetwear company Parade World launched Moetic in July 2022, executives considered its London headquarters a strength. Moetic, a fashion marketplace where creators could launch storefronts with recommended items, could connect with fashion companies across the continent. But as dealmaking slowed last year, Moetic struggled to whet investor appetite. Parade World shut Moetic in March and folded the rest of the company a month later. 

“Where the industry is deciding the trends, in my mind, is still San Francisco, and then, in terms of the creator economy, it’s definitely around LA,” Craig Smith, Parade World’s founder, told me. “The nice thing about Europe for us was that a lot of the brands are here.”