Kreditech raises $92 million Series C Round
Hamburg-based Kreditech raises a $92 million (€82.5 million) Series C round, led U.S.-based private equity firm J.C. Flowers. Along with PayPal co-founder Peter Thiel, Amadeus Capital Partners and existing investors Värde Partners, HPE Growth Capital and Blumberg Capital joined the round. The investment will be used to add more products and geographies to its platform. Not commenting on numbers, Kreditech did mention it is not profitable. However, operating losses were halved in the first six month of this year compared to that time last year, Kreditech CFO Rene Griemens stated towards TechCrunch.
Mobile.de acquires Motor-Talk
Motor-Talk was started in 2001 and became one of Europe’s car and motor online platform. Now it got acquired by Ebay’s Classfieds group’s Mobile.de for an undisclosed amount. Together, the platforms reach 13.1 million unique user per month. Both brands will remain.
Bonativo shuts down
Berlin-based regional food startup Bonativo will shut down its business. French competitor Food Assembly bought two service features of the startup. According to Crunchbase it had a total of $3.6 million of funding. Launching in three markets was harder than expected, Rocket Internet-backed Bonativo told its clients when shutting down in London. Shortly after though, it opened in Hamburg.
Update June 6th, 2016: An earlier version stated that Food Assembly bought Bonativo. Food Assembly reached out to us and explained it had never considered to do so.
Image: Some rights reserved by Ervins Strauhmanis