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This Week in Germany Written by Felicitas Hackmann on 14. October 2016

Swedish entertainment giant MTG invests €91 million in InnoGames

The Hamburg-based gaming company InnoGames received €91 million from the Swedish entertainment giant MTG and handed out 35 per cent of its company’s shares. MTG also secured the option of increasing to 51 per cent at the same valuation. What started in 2003 as a hobby for two brothers, Eike and Hendrik Klindworth, and their friend, Michael Zimmler, became a serious business four years later. Today, over 400 employees work for the company. InnoGames says it has over 150 million registered users and expects a turn over €125 million this year.
[Gründerszene] (German)

Käuferportal is acquired

Berlin-based Käuferportal started nearly eight years ago and during that time, the company raised €6 million and grew to 350 employees. The platform acts a broker for expensive items, like kitchens or solar plants, and services. Now, 7Commerce, ProSiebenSat.1’s investment arm, and General Atlantic have joined forces to buy Käuferportal and will acquire 42 per cent of the company’s shares each. Financial details about the deal remain undisclosed.
[Gründerszene] (German)

Kontist raises €2 million

Kontist, a banking app for freelancers and founders, has not even launched yet and has announced it raised €2 million from Danish VC founders Vækstfonden. Twelve people are currently working on the app, which is set to launch early in 2017.
[Gründerszene] (German)

Nu3 lets staff go

Founded in 2011, Nu3 focused on super foods and dietary supplements. Investors, such as Carsten Maschmeyer, Klaus Hommels and Project A, poured millions of euros into the startup. However, things seem to have taken a turn for the worse: At least 35 employees, including CEO Andreas Assum, were let go. According to Martin Hobler, Nu3’s managing director, the downsize can be blamed on the company’s Scandinavian venture not running as well as planned.
[Gründerszene] (German)

MyHammer is acquired

The Berlin-based craftsman portal MyHammer was acquired by the US-based company HomeAdvisor. HomeAdvisor took over after buying all of Holtzbrinck Digital’s, who held the majority of shares, and Rocket’s Global Founders Capital’s shares. The selling price remains undisclosed.
[Gründerszene] (German)

9flats and Wimdu join forces

9flats and Wimdu, both Airbnb clones, joined forces to become what they say is one of the strongest platforms for vacation apartment rentals. 9flats was founded in 2010 and Wimdu, Rocket Internet’s answer to Airbnb, in 2011. The market is difficult for companies in the field, primarily because each city has different rules regarding private rentals.
[WiWo] (German)

Eve raises $18.3 million

Berlin- and London-based e-commerce mattress startup Eve raised $18.3 million in a Series B round. The round, led by Woodford Investment Management, also included Octopus Ventures, DN Capital, Channel 4 and Paul Pindar. They reached a total of $22 million in funding. The fresh cash will be used to expand operations within Europe. Sights are set on the Netherlands, Italy, Poland, Austria and Switzerland.

Image: Some rights reserved by Georgie Pauwels