24. June 2013–
Global Founders Capital, the VC firm run by Samwer brothers Marc and Oliver along with former Delivery Hero co-founder Fabian Siegel has invested in online language school Lingoda. The news comes two months after the VC invested in credit scoring company Kreditech.
The news was broken by Deutsche Startups, which pointed to an undisclosed funding round. When we contacted Siegel, he declined to comment on the funding. On a job listing Lingoda says they are “backed by a number of top VCs and business angels including the founders of Zalando and Delivery Hero” – a clear reference to the Samwer brothers and Siegel.
The Berlin-based startup was founded in 2012 and offers online English language courses, engaging students with interactive tasks, group courses and one-on-one teaching via video conferences. Lingoda claims its USP rests on its teachers, who are qualified native speakers. The programme comes with a “fluency guarantee" at the end of the course.
Lingoda founders Fabian and Felix Wunderlich previously launched another language site, Easy Languages, which offers German courses. The market for online language learning is crowded, with Lingoda facing competition from well-established Berlin-based peer Babbel, which received a $10m financing round in March, and Busuu, Duolingo and Babelyou, to name a few.
Launched in mid-March, Global Founders Capital is a €150m fund investing in internet businesses. In a video interview at the Heureka Conference in May this year, Siegel told us they have already made a “number of investments” (we last heard this stands at six). This should mean the VC firm will make a few more announcements in the near future.
Check out what Siegel had to say on investments, working with the Samwers and investing versus running a business in the interview below: