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This week in Germany: MyTaxi, Ottonova, BlackRock Written by Christine G. Coester on 23. June 2017

Insurance startup Ottonova collects €10 million

Ottonova, a digital solution for private insurance, announced raising another 10 million euros (11.1 million USD). The Munich-based startup, which raised 15 million euros in March, needs a large investment to acquire the licensure necessary to operate as an insurer. The German insurance company Debeka invested the full 10 million and took slightly more than ten per cent of Ottonova’s shares, according to the Süddeutsche Zeitung.
[Gründerszene] (German)

BlackRock invests in Munich startup Scalable Capital

Scalable Growth announced Tuesday the closing of a 30 million euro Series-B round. The round, led by BlackRock alongside existing investors HV Holtzbrinck Ventures and Tengelmann Ventures, will be used to grow the startup’s business with financial institutions and corporates, the press release says. The Munich-based startup offers a digital investment manager and the funds Scalable Growth gave BlackRock were exchanged for a “significant minority equity stake.”
[Gründerszene] (German)

MyTaxi acquires CleverTaxi

The Daimler subsidiary MyTaxi expanded into Romania and acquired the country’s market leader, CleverTaxi. The price of the acquisition is undisclosed. MyTaxi, founded in 2009, is active in ten European countries and has 400 employees. MyTaxi will continue to use CleverTaxi’s branding temporarily following the acquisition.
[Gründerszene] (German)

Photo credit: Visual Hunt