Kreditech raises €10 million
The Hamburg-based fintech startup Kreditech announced a new investment round Thursday. The Japanese e-commercie giant Rakuten, who launched a fintech fund just last year, invested €10 million ($10.4 million). This is the first investment Rakuten made to a German startup this year. While the amount may sound large to some, it must be mentioned that Kreditech secured over €100 million earlier this year.
Peugeot acquires Carjump
The French car manufacturer Peugeot now holds 82 per cent of Carjump‘s, a Berlin-based startup, shares. The car sharing app lets users reserve cars via several short-term rental options, like DriveNow and Car2Go. The app also offers extra services like a price comparing tool. Further details surrounding the acquisition remain undisclosed.
Car2Go and DriveNow will merge services
The car sharing platforms Car2Go (Daimler) and DriveNow (BMW) are planning to merge their services. Both brands will stay as they are, but the hope is that combing their efforts will allow them to remain competitive against other larger services.
Hubject receives VW investment
The German car manufacturer VW joined several other car manufactures in backing the fledgling company Hubject. Hubject is a joint venture that has received investments from BMW, Bosch, Dailmer, Innogy and Siemens. The startup developed the platform Intercharge, which shows the locations of more than 40,000 e-car charging stations across Europe. Further details, like the amount of backing, remain undisclosed.[Gründerszene] (German)
Crate.io raises €2.5 million
The Berlin-based database startup Crate.io announced a €2.5 million round after raising an impressive $4 million in March 2016. Dawn Capital, Draper Esprit, Speedinvest and Sunstone Capital participated;. Vito Ventures led the round.
Delivery Hero acquires competitor
The Berlin-based and Rocket Intenet-backed startup Delivery Hero acquired competitor Foodpanda over the weekend. Foodpanda is also backed by Rocket Internet. The two startups combined expect over 20 million orders in 47 countries. Other details of the deal remain undisclosed.
Seven-digit figure for Adnymics
The Munich-based startup Adnymics, which adds commercial brochures to online shopping packages, announced a Series A round Monday. The company, which launched in late 2014, received investment from TAKKT and VC Rising Generation Development. Existing investor Bayern Kapital and several business angels also contributed.
Earlybird startup Bonagora files for bankruptcy
Bonagora, a Berlin-based online marketplace for home fashion, filed for bankruptcy Tuesday. Bonagora, established in 2014, hoped to make the lives of traders and businesses easier. Early on the startup secured approximately €3.5 million from investors, such as Earlybird, Vogel Ventures and Makers.do. The reason the company is now filing for bankruptcy is that business in the Asian market did not pick up as planned.
SAP opens IoT startup area
The software giant SAP opened a “Data Space” in Berlin Mitte, near Hackesche Markt. The space can host up to 10 B2B startups, which will have access to 40 desks, software and connections to SAP clients. The space, set to open in February 2017, will allow for these startups to solve concrete customer tasks. SAP also hopes the space will speed up innovation and the creation of new business models.