This Week in Germany


Hello Fresh received new capital

Berlin-founded Rocket Internet-back food box startup Hello Fresh received new investment in April: An increase of capital of about €21.4 million came from so far unknown investors, a bank loan of €44.4 million, and a separated shareholder loan from Rocket Internet. The money may be needed while waiting for the right time for an IPO.
[Gründerszene] (German)

Rocket Internet decreases loss

Looking into the number of the first halb year of 2016, Berlin-based company builder Rocket Internet decreases its loss. Rocket’s largest startups Hello Fresh, Foodpanda and Global Fashion Group could decrease their EBITDA margins. In absolut numbers, however, Rocket’s six largest startup come to a total loss of €212 million. More:
[Gründerszene] (German)

FreightHub raises $3 million

FreightHub, a Berlin-based startup that want to digitalize container shipping on the water and in the air, raises $3 million from Global Founders Club, Cherry Ventures and investors such as  Cavalry Ventures, Saarbruecker21 and La Famiglia.
[Gründerszene] (German)

FinanceFox raises $28 million

Insurtech startup FinanceFox announces a Series A funding round today. The platform for existing insurance brokers wants to digitalize their core process and be more efficient. The $28 million strong Series A round is led by Target Global and Horizons Ventures. Existing investors Salesforce Ventures, Idinvest, Speedinvest, Seedcamp, AngelList, Victory Park Capital, and Samuel Skoblo also participated.
[TechCrunch] is going public

Dutch company acquired Germany-based Lieferando two years ago. Now, it wants to go public at a valuation of $1 billion. Prices per share range between €20,50 and €26,50.
[Business Insider]

Rumors of the week: P&I about to get acquired

According to sources familiar with the case, P&I (Personal & Informatik) is about to get acquired from Permira. P&I offers software for accounting and book keeping. While speak persons from both sides decided not to comment on the case, rumours have it, the price is about $900 million.
[Gründerszene] (German)

Axel Springer Plug and Play cooperates with Deutsche Bank

German banking house Deutsche Bank announces a cooperation with Axel Springer’s accelerator Plug and Play. With this cooperation, fintech and insurtech ideas will picked, developed and financially supported. Founders who get access to Deutsche Bank will also be able to join at Deutsche Bank’s Digitalfabrik (“digital factory”) in Frankfurt.

Court rules against Deutsche Post in IDnow case

For a long time, Deutsche Post was the monopolist when it came identification solutions. For example, if you want to open a banking account for an online bank you need to verify your identity at a post office. However, in the digital age, new solution came up, like IDnow which offers eSign. eSign lets customers buy loans and other contracts over their phone. While Deutsche Post argued the Munich-based startup was anticompetitive and shared misleading information in their advertising, a court now rules: the startup is fine.
[Gründerszene] (German)