Here is your weekly summary of what happened in the German startup industry.
Rocket Internet’s cleaning booking platform Helpling acquires UK-based competitor
Berlin-based Helpling acquires UK-based competitor Hassle.com. As tech.eu reports, Helpling dropped €32 million for the deal (mostly in stock, but also in cash). Hassle will continue to exist and operate under its brand.
Uber has issues finding new drivers
Taxi competitor Uber has issues finding new drivers in Germany. Reason for that is the regulation Uber has to follow after German courts decided that the peer-to-peer service UberPOP operated illegally in Germany. To continue the service as a professional drivers, each one has to get a licence. Getting it can take between four and 14 months, Fabian Nestmann, Uber’s country manager in Germany, stated.
Peter Thiel invests in Kreditech
Hamburg-based fintech startup Kreditech, that applies big data to score the creditworthiness, raised a Series C round. Beside others the PayPal founder Peter Thiel invested. As CEO Sebastian Diemer states the first part of this round is about worth €40 million, the second will be between 50 and 100 million.
Advocado raises a mid six-digit figure
Mecklenburg-Hither Pomerania based Advocado raises a mid six-digit figure round. The startups offers a platform that connects lawyers and their clients. The fresh investment comes from MBMV (Mittelständischen Beteiligungsgesellschaft MV) and will be used for marketing, sales, and product development.
E-Sports empire Turtle Entertainment sells 74 percent for €78 million
Cologne-based Turtle Entertainment sells 74 percent of its shares to Sweden-based entertainment group MTG for €78 million. The other 26 percent stay with the the founders and the management team, which will stay on board.
HomeToGo launches in the UK and in Spain
Berlin-based HomeToGo, a metasearch engine for holiday rentals, launches in the UK and Spain today and announces details of its last funding round. The startup says it raised €6 million from DN Capital and Acton Capital Partners.
Cloud Printing Startup Ezeep filed bankrupsy
Being founded in 2011 was too early for the cloud printing startup Ezeep, co-founder Sascha Kellert stated. Though having raised quite a good amount of cash in 2014, the startup now shuts down. The software gathered and connected all printers in a network so that driver software became unnecessary.
Psyware raises seven-digit Euro amount
Aachen-based Psyware analyses with e.g. language analysis what people are good or bad in. For the third time the startup that was founded in 2012 raises an seven-digit figure from NRW Bank, privat investors and existing investors Seed-Fonds Aachen and DSA Invest. The fresh money will be used to expand IT infrastructure and professional sales.
Rocket Internet’s Fashion Group raises €150 million
GFG (Global Fashion Group) is the umbrella group of Rocket Internet’s fashion-focused companies. As announced today, the group raised another €150 million and acquired two Rocket-backed companies from Brazil. Rumors have it that GFG will, similar to Rocket Internet, exit via IPO. The round was led by Kinnevik, Rocket Internet and existing investors joined the round.
Avuba dismisses its users
Berlin-based peer-to-peer payment provider Avuba dismissed its users. In an email sent out yesterday the startup stated that its service will run out by the end of August. New plans have not been released. The app allowed friends to transfer money to each other. Startups with similar ideas have a hard time to find their way into Germany’s mainstream audience.
Mister Spex expands to the Netherlands
After expanding to Switzerland in March this year, Berlin-based online glasses shop Mister Spex now opens an online stop in the Netherlands. While customer support will speak Dutch, the ordered item are shipped from Berlin. As of right now it seems Mister Spex doesn’t plan to open an office in the Netherlands any time soon – all open positions on its website are for jobs in Berlin.
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Rumors: Hello Fresh files for IPO
According to people familiar with the case, Berlin-based food box delivery service Hello Fresh considers an IPO, Bloomberg reports. Banks involved are Morgan Stanley and Goldman Sachs Group Inc., two of the people mentioned. The service is available in Germany, Austria, the Netherlands, the U.K., Belgium and the United States. Until now, Hello Fresh raised an overall funding of $193.5 million in four rounds, the most recent one was a $126 million Series E in February, 2015
BOOK A TIGER launches in Switzerland
Berlin-based cleaning booking service BOOK A TIGER expands to Switzerland after having launched in 200 German cities and Vienna (Austria). The service starts at 35 CHF/hour (€33,72). The company states it wants to expand to more Swiss cities by the end of the year. Tamedia, leading Swiss media group and leading investor in the startup’s Series A round, acts as its strategic partner for the launch.
Spontacts raises seven-digit Euro amount
Munich-based Spontacts raises a seven-digit Euro amount. The platform lets people connect to spend their free time together. The investment came from existing investors Jochen Schweizer Group, and the founders and some management members of Zurich-based Media Ventures GmbH. The amount will be used to expand and continue the platform’s development