DACH Startup News October 2021: Founders, Funding and Ecosystem Updates
Updated: 3 days ago
N26 reclaims Germany's top fintech title, Sono Motors files for IPO, and startup funding rises despite fewer ventures. Read more.
What Is This About?
More October 2021 DACH startup highlights: N26 reclaims Germany's top fintech title, Sono Motors files for IPO, and startup funding rises despite fewer new ventures launching. This edition covers the policy and market dynamics shaping the German-speaking startup ecosystem.
Introduction
More October 2021 highlights from the DACH startup ecosystem — N26 reclaims Germany's top fintech spot, Sono Motors files for IPO, and overall startup funding continues to rise. This edition captures the policy dynamics and market forces driving an unprecedented period of startup activity.
More October 2021 DACH highlights: N26 reclaims Germany's top fintech, Sono Motors files for IPO, and funding rises despite fewer new ventures — capturing policy and market dynamics.
N26 reclaims Germany's top fintech title, Sono Motors files for IPO, and startup funding rises despite fewer ventures. Startuprad.io brings you independent coverage of the key developments shaping the startup and venture capital landscape across Germany, Austria, and Switzerland.
This article is part of our coverage of DACH Startup News January 2022: Founders, Funding and Ecosystem Updates.
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Top News
Germany has a new most valuable fintech
N26 took over Trade Republic, as Germany’s most valuable startup but the way to this monster funding was not easy.
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 N26 bekommt 900 Millionen - Bewertung steigt auf 9 Milliarden - deutsche-startups.de
N26, despite being in trouble with the bank oversight BaFin, raises 700 mn Euros (810 mn US$) at an 8 bn € (9.26 bn US$)valuation N26 News: Bewertung der Smartphone-Bank steigt auf rund 8 Milliarden Euro
N26’s CEO for Germany leaves the neobank for Hawk AI N26-Deutschland-Chef Georg Hauer wechselt zu Hawk AI | FinanceFWD
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 Germany's Flixbus acquires Greyhound 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 the 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.
Ecosystem
11 female business angels from Germany, you should know Wichtigste Business Angels: 9 Investorinnen, die ihr kennen solltet - Business Insider
The number of startups decreases in Germany in 2020 by 30% as measured by KfW Corona-Krise treibt Start-ups in Pleitewelle - manager magazin
Germany to mine lithium under the Erzgebirge in Sachsen. The “white gold” is used in batteries, notebooks, tablets, and smartphones https://www.ict-channel.com/markt/knappes-weisses-gold-aus-sachsen.125959.html
Seven takeaways from the Accel state of European SaaS report Seven takeaways from the Accel state of European SaaS report | Sifted
EXPLAINED: The surprising parts of Germany where new businesses are blooming EXPLAINED: The surprising parts of Germany where new businesses are blooming
Leverkusen
Marburg
Goerlitz
Schwabach
Schweinfurt
Offenbach am Main
Kaiserslautern
MainTaunusKreis (this is where Joe is living, just outside of Frankfurt)
Hubs
Frankfurt
FreshBooks Acquires FastBill to Boost Growth in Canada PYMNTS | FreshBooks Acquires FastBill FinTech No purchase price was published, but according to our information a large share was paid in FreshBooks shares. The price could be in the range of 100 mn Euros (75–120 mn Euros depending on the multiple and actual revenue)
Former C-Level executives of Frankfurt-listed evergreen VC fund Finlab had differences with their former majority stakeholder. Now they want to use their connection to raise their own VC fund Frühere Finlab-Chefs legen Fonds auf
Bitcoin miner Northern Data forecasted 120 mn revenue and delayed publication of the numbers. Then they published 16,4 mn revenues. Finance watchdog Bafin filed charges Fabio De Masi: „Notfalls muss Northern Data von der Börse genommen werden" | FinanceFWD we will keep you updated on this story.
Heidelberg
The Struengmann billionaire twin brothers made the BioNTech success possible as large-scale investors. Now they invest in Heidelberg-based fintech Getsafe Nach Biontech-Erfolg: Strüngmann-Brüder steigen bei Versicherungs-Startup Getsafe ein | FinanceFWD
Learn more about the twins here: https://www.startuprad.io/post/meet-the-twin-billionaires-behind-biontech-s-success
Hamburg
Heyflow raises USD 6 million in funds — more “clickflow” on websites "Source Link dead 2026-09-14"
Hamburg-based circular bioeconomy startup traceless materials receive a €2.42 million EIC grant to quickly scale up its technology Hamburg-based circular bioeconomy startup traceless materials receives a €2.42 million EIC grant to quickly scale up its technology | EU-Startups
Munich
Flixbus is based in Munich, note the story before.
There is also another shmaybe unicorn: Munich-based solar car firm Sono Motors files for U.S. IPO German solar car firm Sono Motors files for U.S. IPO | Reuters reports Reuters. The IPO could value the company at more than 1 bn US$, but the first cars will only be delivered in 2023.
German online dating company Parship looking for an IPO in Frankfurt in spring next year, hiring two investment banks Parship Börsengang: Pro Sieben Sat 1 mit Vorbereitungen für IPO
Cologne
Iris Capital, New Forge, and Instana founder join existing investors in 27,8 mn US$ funding in ArangoDB. The #Cologne-based startup offers an open-source NoSQL database ArangoDB sammelt 27,8 Millionen ein - Chronext verschiebt IPO - Goto Global übernimmt emmy - deutsche-startups.de
1nce from Cologne is the first joint investment from Deutsche Telekom and Softbank. 1nce is an IoT startup, raising in total 43 mn € (50 mn US$) Deutsche Telekom und Softbank-Deal: 43 Millionen für Kölner Startup 1nce - Business Insider
Konstanz
Fruitcore Robotics grabs €17M "Source Link dead 2026-09-14"
Austria
Norwegian IT giant Visma buys Vienna based cloud accounting startup ProSaldo_net Exit: IT-Riese aus Norwegen kauft Wiener Buchhaltungssoftware-Firma ProSaldo.net | brutkasten
Switzerland
Chronext postpones IPO at SIX in Switzerland, originally planned for early October due to “unfavorable market conditions” ArangoDB sammelt 27,8 Millionen ein - Chronext verschiebt IPO - Goto Global übernimmt emmy - deutsche-startups.de
Locatee, the workplace analytics startup raises 7,1 mn Euro Locatee: Schweizer Workplace-Analytics-Startup sammelt 7,1 Millionen Euro ein
ETH spinoff Scewo, raises 8,5 mn CHF (7,83 mn €) venture capital for their stair-climbing wheelchair Investoren unterstützen internationale Expansion von Scewo
Frontify raises 50 mn US$ from investors like Revaia, High Sage Ventures, as well as existing investors for their platform, on which companies can manage their brand presence Frontify sammelt 50 Millionen ein - Flexcavo bekommt 7,5 Millionen - Lena Gercke investiert in 26 Homes - deutsche-startups.de
One million US$ for sporttech startup coachbetter to digitize football coaching Eine Million Dollar für die Digitalisierung des Fussballtrainings
VW heir and one of Elon Musk’s investors invest in Switzerland-based car subscription startup Carify VW-Erbe und Elon-Musk-Investor steigen bei Carify ein | Moneycab
General News / Companies News Section
The German company Autarq may just have surpassed Tesla with their solar roof tiles David gegen Goliath: Deutsche Firma zeigt Tesla, wie Solarziegel gehen
SPACs
Factbox: Major European SPAC listings this year Major European SPAC listings this year | Reuters the market seems to cool:
“European SPACs have raised $6.6 billion so far this year, according to Refinitiv data. While that’s up from just $500 million in 2020 it’s still only about 5% of the value of the SPAC deals done in the United States in 2021.”
But there is a new one: New SPAC “GFJ ESG Akquisition I SE” announced. It shall be listed in Frankfurt, to buy startups and tech companies in sustainable technologies. The company is initiated by well-known founders and a corporate CFO. They want to raise 150 mn € GFJ Spac: Ex-Klöckner-Chef Gisbert Rühl legt mit Josef Brunner Spac auf - Business Insider
GoPuff, the Philadelphia-based quick commerce startup, enters the German market GoPuff: Der US-Lieferdienst kommt nach Deutschland und macht deutschen Lebensmittel-Lieferdiensten Konkurrenz adding to an already hot competition with Jokr, Gorillas and others.
CureVac stops the development of the Corona vaccine and starts over with a new approach. The first vaccine candidate did not fulfill the expectations CureVac stoppt seinen Covid-Impfstoff | tagesschau.de
Multiple PE funds are fighting over the buyout of Zooplus, the takeover (initially 390 €/ share) offer was raised 40% since mid-August and currently, the shares are trading around 490€ Zooplus Aktie: Pokerspiel bring H&F und EQT an ihre Grenze this leads the market to conclude there is more in it for shareholders. We keep you updated.
Venture capital: 8roadsventures raises 450 mn US$ VC fund targeting 15–20 scaleups in Europe Eight Roads startet mit 450 Millionen Dollar & Europa-Fonds
Vehiculum wanted to turn the leasing industry upside down. Now a funding round fell through and they have to file for insolvency "Source Link dead 2026-09-14"
Adam Neumann-Backed GoTo Global Acquires German Moped-Sharing Startup Neumann-Backed GoTo Acquires German Moped-Sharing Startup - Bloomberg
DWS buys stake in UK-based retirement fintech Smart DWS beteiligt sich an Fintech Smart
Baloise’s German Money Pit. Their #Berlin-based insurtech Friday is not working out as planned Baloise's German Money Pit
Sad news: A Helicopter crash kills the founder of August Intelligence, the startup in the center of the Amthor Affair, involving questionable lobbying by a member of the German Parliament Hubschrauberabsturz bei Heilbronn: Gründer von Augustus Intelligence Haupt tot
Selected Fundraisings (really, a very very small collection)
Inkitt books $59M investment, wants to turn its data-driven, self-publishing platform into a multimedia powerhouse Inkitt books $59M investment, wants to turn its data-driven, self-publishing platform into a multimedia powerhouse | TechCrunch
Germany’s construction tech startup Schuttflix raises €43.1M in Draper Esprit-led Series A round (Original Source Removed - Here would be a link to the source)
Factoring #fintech Billie raises 86 mn Euros (100 mn US$) tripling their valuation Billie holt sich 86 Millionen – und vervielfacht seine Bewertung - Business Insider
#Berlin-based #factoring #fintech Billie just raised 86 mn Euros (100 mn US$), now their Partner Magerkurth-Volksbank, Raisin and Varengold add a 170 mn € line of credit Fintech-Volksbank leiht Billie rund 100 Millionen Euro | FinanceFWD
And finally: Landesbank Berlin issued more than 1 mn credit cards for Amazon’s German customers. Now it appears the bank shifts strategy and ends the cooperation Landesbank Berlin verliert Amazon-Deal | FinanceFWD
Stay ahead of the curve
10 Things Your Corporate Culture Needs to Get Right 10 Things Your Corporate Culture Needs to Get Right
The original publication is here: https://www.startuprad.io/post/this-month-in-german-startups-october-2021/
Germany’s Flixbus acquired the legendary US Greyhound bus company, from current owner UK based First Group for 120 mn Euros (140 mn US$).
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.
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What are the key facts about DACH Startup News October 2021:?
N26 reclaims Germany's top fintech title, Sono Motors files for IPO, and startup funding rises despite fewer ventures. Read more.
How does this affect the German startup ecosystem?
This article is part of our coverage of DACH Startup News January 2022: Founders, Funding and Ecosystem Updates.
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.
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