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This blog post first appeared first on old medium publication (https://medium.com/startuprad-io), and was moved to this blog with the relaunch of our website in summer 2024.
Meet the Fintech Behind the 100 mn € Exit Nobody Talks About
We were the first ones to start such a business [for electronic invoices] in EuropeMarcus Laube, Founder and CEO of crossinx
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We had to file for insolvency in our first try. I bought [the company] out of the insolvency.Marcus Laube, Founder and CEO of crossinx
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After the insolvency, the new company stayed liquid by selling chairs and tables. We than sold it to a Finish company.Marcus Laube, Founder and CEO of crossinx
Enabler
This recording was made possible by (Hessen Trade and Invest). Learn more about our enabler here:
The Finish company later stopped all their activities in Central Europe. This is where I started crossinx.Marcus Laube, Founder and CEO of crossinx
The Founder
In this interview, we are talking to Marcus Laube (https://www.linkedin.com/in/marcus-laube/) , the founder and CEO of one of the largest fintech exits this year. He sold the company, he founded in 2007 in 2021 for 100 mn Euros to Unifiedpost Group from Belgium (https://www.businesswire.com/news/home/20210411005030/en/Unifiedpost-Group-and-Crossinx-Join-Forces-to-Create-a-Unique-European-Business-Network).
Marcus has been the chairman of the European Fintech Alliance (https://eufintechs.com/) and the co-chairman of the European E-Invoice Service Provider Association (EESPA https://eespa.eu/)
The story of Marcus as an entrepreneur is totally fascinating: He was helping one of Lufthansa’s businesses (AirPlus) to get their first website and digitize Germany’s Flag Carrier. This brought him in contact with lots of electronic business ideas, with which he ventured out on his own. His first company was sliding into insolvency. He bought the company out of insolvency and this company stayed afloat by selling chairs and tables. This company was bought later by a company from Finland. This Finnish company stopped their business in Germany and Marcus decided to start over again with founding crossinx in 2007. He now sold this company in a 100 mn Euro plus deal (the deal includes a clause of up to 13 mn € further conditional earn-out payments according to the press statement).
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We call what we do the financial supply chain.Marcus Laube, Founder and CEO of crossinx
The Startup
crossinx (https://www.crossinx.com/en/) is the leading provider of e-invoicing based service solutions in Germany, working with the largest companies and institutions, such as Nestle, Bayer, TNT, Sixt and the German national government. The company was founded back in 2007 by Marcus Laube.
The Exit
On April 12 Unifiedpost Group announced to acquire crossinx for 100 mn Euros (up to 113 mn €): https://www.businesswire.com/news/home/20210411005030/en/Unifiedpost-Group-and-Crossinx-Join-Forces-to-Create-a-Unique-European-Business-Network
The connection came from Marcu’s work in EESPA, where he met Unifiedpost. There has been interest to acquire crossinx 3 years before, but the deal was sealed after the IPO of Unifiedpost at Euronext (Euronext: UPG).
The Video Interview is set to go live on Thursday, May 20th, 2021 at 17.00 CET
The Audio Podcast
The audio podcast will go live slighly before the YouTube video.
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The Interviewer
This interview was conducted by Jörn “Joe” Menninger, startup scout, founder, and host of Startuprad.io. Reach out to him:
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