What if they structured the financing like they do with science?
The problem with the EU market is that if I launched anything social, I'm immediately hit with a localization problem so I have to launch first either in English (you lost 53% of people)* or start with a few select countries first with their native language.
It's kinda a mess. Money is not really the issue with EU startups, it's the cultural fragmentation.
There are also many small niche social platforms, but of course nothing like FB/X/etc..