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Germany Switzerland Austria (GSA) Unicorn Tracker — October 2021

Updated: May 9

October 2021: N26 reclaims top fintech spot, new unicorns Enpal and Flink emerge, and Personio doubles its valuation.

What Is This About?

The October 2021 GSA Unicorn Tracker updates: N26 reclaims Germany's top fintech spot, new unicorns Enpal and Flink emerge, and Personio doubles its valuation. This tracker monitors all billion-dollar startups across Germany, Switzerland, and Austria with the latest valuation changes.

Introduction

The October 2021 GSA Unicorn Tracker updates include N26 reclaiming Germany's top fintech valuation, new unicorns Enpal and Flink emerging, and Personio doubling its valuation. This tracker provides the definitive record of billion-dollar startups across the DACH region at the peak of the 2021 unicorn boom.

The October 2021 GSA Unicorn Tracker records N26 reclaiming top fintech spot, new unicorns Enpal and Flink emerging, and Personio doubling valuation at the peak of the 2021 boom.


October 2021: N26 reclaims top fintech spot, new unicorns Enpal and Flink emerge, and Personio doubles its valuation. Startuprad.io brings you independent coverage of the key developments shaping the startup and venture capital landscape across Germany, Austria, and Switzerland.


Germany has a new most valuable fintech

N26 took over Trade Republic, but the way to this monster funding was not easy. They are now valued 9 bn US$

  • N26, the Berlin-based neobank, raises 900 mn US$, with a valuation of 9 bn US$, becoming Germany’s most valuable fintech, and one of the world’s 20 most valuable fintechs https://buff.ly/3aQwgQW

  • N26, despite being in trouble with the bank oversight BaFin, raises 700 mn Euros (810 mn US$) at a 8 bn € (9.26 bn US$)valuation https://buff.ly/3FAq5i1

  • N26 puts a positive spin on BaFin customer cap https://buff.ly/3jnrT4F

  • N26’s CEO for Germany leaves the neobank for Hawk AI https://buff.ly/3ARLTmH


We have new unicorns to announce

Enpal, a Berlin-based photovoltaics leasing firm that provides solar power systems for homeowners with no money upfront, becomes a unicorn with 150 mn Euro investment by Softbank, valuing the company at 1.1 bn US$ https://buff.ly/3n4SOmL

We assumed it in our last episode, now it is confirmed:

Doordash backs round valuing delivery startup Flink, generating yet another new unicorn in Germany at $2.5 billion — sources https://buff.ly/3zZxTpL


There is also another shmaybe unicorn:

#Munich-based solar car firm Sono Motors files for U.S. IPO https://buff.ly/3GjcRGO reports Reuters. The IPO could value the company at more than 1 bn US$, but the first cars will only be delivered in 2023.

And we have a no-more-unicorn to announce

The German startup media speculated that food giant Oetker paid 1 bn € for quick delivery service Flaschenpost, now their annual report reveals a maximum payment of 898 Mio. Euro. NOTE: This may exclude payments to the founders tied to performance https://buff.ly/3vl5sC5


SPACs

Factbox: Major European SPAC listings this year https://buff.ly/3DerMQw the market seems to cool. More about it in our general news.


Existing Unicorns

Germany’s Flixbus acquired the legendary US Greyhound bus company, from current owner UK based First Group for 120 mn Euros (140 mn US$). First Group was interested in selling the company already back in 2019 https://buff.ly/3G8rtbX Greyhound itself is of course suffering from corona, they generated more than 10 mn Euros losses in Q1 2021 and cut 50% of their headcount since the start of corona.

Flixmobility (the company behind the Flixbus brand) was valued at 2.5 bn Euros at their last fundraising in June this year, they reached unicorn status already in 2018.


Fintechcorns

Newly minted unicorn more than doubles valuation. They were valued at 1.4 bn Euros (1.63 bn US$) in January 2021 and joined the ranks of unicorns. Now Personio is seeking funding at a valuation of more than $6 billion. We have several links and reports related to this: https://www.bloomberg.com/news/articles/2021-10-04/personio-is-seeking-funding-at-valuation-of-more-than-6-billion

Now German HR startup Personio tops $6 bln valuation in funding round https://buff.ly/2YY54O9

#Munich-based #HRTech startup Personio raises 270 mn US$ additional funding, after their January fundraising. They are currently valued at 6 bn US$, making them the second most valuable privately held startup in Germany https://buff.ly/30mnJTZ

Berlin-based fintech unicorn Trade Republic grows against the general market trend, as measured by app downloads. They don’t disclose financials https://buff.ly/39JwIzQ They don’t have to publish their numbers soon, so this is the best real time indicator.

Scalable Capital, once only a robo-advisor feels the competition of Trade Republic, Bitpanda and others. They expand with their asset management and brokerage offer in three additional countries Spain, Italy and France https://buff.ly/3adHxuk


Gorillas


Germany’s grocery delivery unicorn Gorillas join forces with Dutch mobility startup DOCKR; here’s why https://buff.ly/2WGr4M4


Gorillas: Food delivery service fires strikers — Market Research Telecast https://buff.ly/3DlAigv


Delivery Hero confirms investment in quick commerce startup Gorillas. They invested 235 mn US$ for 8%, valuing Gorillas pre-money at 2.1 bn US$ https://buff.ly/3aVfnVu


Stay ahead of the Unicorn

Nothing here this time :-)

Find all links and show notes here:


  • N26 took over Trade Republic, but the way to this monster funding was not easy.

  • This article covers a significant development in the DACH startup and venture capital ecosystem.

  • The DACH region (Germany, Austria, Switzerland) continues to be one of Europe's most dynamic startup markets.

Relationship Map

  • Startuprad.io → published → Germany Switzerland Austria (GSA) Unicorn Tracker — October

Partner with Startuprad.io

Startuprad.io is the leading independent media platform covering startups, venture capital, and innovation across the DACH region (Germany, Austria, Switzerland) and Europe. We offer B2B partnership opportunities for companies looking to reach startup decision-makers, founders, and investors.

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What are the key facts about Germany Switzerland Austria (GSA) Unicorn?

October 2021: N26 reclaims top fintech spot, new unicorns Enpal and Flink emerge, and Personio doubles its valuation.

How does this affect the German startup ecosystem?

Factbox: Major European SPAC listings this year https://buff.ly/3DerMQw the market seems to cool. More about it in our general news.

What are the latest startup funding trends in the DACH region?

Startuprad.io tracks venture capital and startup funding across Germany, Austria, and Switzerland. Explore our pillar coverage pages for the latest data.

About the Host

Joern "Joe" Menninger is the host of the Startuprad.io podcast and covers founders, investors, and policy developments across the DACH startup ecosystem. Through more than 1,300 interviews and nearly a decade of reporting, he documents the evolution of the European startup landscape. Follow Joern on LinkedIn.

Want to reach the DACH startup ecosystem? Become a partner and connect with founders, investors, and operators across Germany, Austria, and Switzerland.

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Startuprad.io is the leading independent media platform covering startups and innovation across Germany, Austria, and Switzerland. We bring founders’ stories to a global audience through in-depth interviews and expert analysis. Support our mission by subscribing to our podcast on your favorite platform, sharing this episode with fellow startup enthusiasts, or exploring sponsorship opportunities at startuprad.io.

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