New Blog
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.
Welcome!
Welcome to This Month in German Startups by Startuprad.io — in a news recording with Chris (from New York City) and me Joe (from Frankfurt am Main).
Guys, it is October, it is getting colder outside and cozier inside, so we bring you another “Doppelpack”of our news recording! Take a look at our regular news “This Month in German Startups.” We bring you another bonus news episode as part of our news coverage of the German startup scene. We recorded this episode on October 25th, 2021, wrapping up October. This is a Bonus Episode following our special coverage of the unprecedented creation of unicorn startups in the German-speaking startup scene!
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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: https://www.startuprad.io/blog/gsa-unicorn-tracker-october-2021/
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