German Startups Continue Raft of Big VC Deals

October 2021

There have been a series of nine-figure financing rounds for fledgling German companies, with N26, Berlin Brands Group and Enpal all raking in massive hauls. And they weren’t the only ones. Here’s our bimonthly round-up of German venture capital success stories.

Personio, Munich, USD 270 million, HR software: This start-up from the Bavarian capital has grown big fast by targeted small to medium-sized enterprises’ human resources needs. Its latest round of funding took its valuation up to EUR 6.3 billion, making it one of the most valuable startups in Europe at the moment.  Photo: Personio management team © Personio

Atheneum, Berlin, USD 150 million, research as a service: This up-and-comer from the national capital promises technology to help businesses, including investment houses and consultants, sort through the vast amount of information they receive. Athenium intends to use the latest windfall for international expansion.  Photo: Mathias Wengeler, founder and CEO of Atheneum © Atheneum

Commercetools, Munich, EUR 120 million, software: This southern German unicorn, founded in 2006, specializes in next generation commerce and offers B2B, B2C and D2C solutions. The company follows what it calls the MACH principles: microservices-based, API-first, cloud-native, and headless. Photo: The founders of Commercetools, Dirk Hoerig (left) and Denis Werner © Commercetools

Billie, Berlin, USD 100 million, fintech: A substantial new financing round has increased the valuation of Berlin-based start-up Billie fourfold. The investment was led by Swedish giant Klarna and China’s Tencent. Billie specializes in grant funding. Photo: The founders of Billie, Matthias Knecht (left) and Christian Grobe © Carolin Weinkopf

CoachHub, Berlin, USD 80 million, digital coaching: This newcomer from the capital has only been around since 2018, but it’s already making big waves, with clients ranging from Toyota to Generali to Pret a Manger to Soundcloud. It, too, will use the fresh funds to expand internationally. Photo: The founders of CoachHub, Yannis Niebelschütz (left) and Matti Niebelschütz © CoachHub

Getsafe, Heidelberg, USD 63 million, insurance: Unlike some its competitors, this digital insurance company works directly with customers instead of agents. It offers insurance for everything from personal liability to dogs, drones and bicycles. Photo: The founders of Getsafe, Marius Simon (left) and Christian Wiens © Getsafe.

According to a study by Ernst &Young, German startups have received three times as many funds in 2021 as the year before. „The pandemic has accelerated digitization and new disruptive business models. Those funding rounds will help scaleups increase their international footprint“, says Dr. Kim J. Zietlow, GTAI Director Trend & Innovation Scouting and in charge of internationalizing Germany’s Digital Hub Initiative.