We are excited to announce the €5,7M seed extension for our portfolio company Fairown! ✍️ We are super thrilled that the German impact investor BonVenture is on board as lead investor for this round! Together with the existing investors neosfer, the early-stage investor and innovation unit of the Commerzbank AG and Gateway Ventures, we are looking forward to working with you. 🚀 Fairown has expanded rapidly across Europe, offering its unique subscription service in nine countries. Following its success in the Baltics, Nordics, and Poland. The new funding round will enable them to further develop and scale the product, as well as grow their customer base in Germany. With numerous major customers, Fairown is well positioned for further growth. 🌎🌍🌏
📢 We have raised €5.7 million for a large-scale expansion in Germany! ✨ We have already expanded across Europe at a rapid speed, offering our multi-category subscription service in nine countries. Following the success in the Baltics, Nordics, and Poland, securing the funding will enable us to develop and scale our product and grow the customer base in Germany. ✅ The funding round was led by BonVenture, the first impact fund in the German-speaking countries, and supported by existing investors. Including neosfer, the early-stage investor and innovation unit of the Commerzbank AG Group, STIHL Ventures, the corporate venture capital arm of STIHL, and Gateway Ventures Ventures. 🚀 We're lucky to have already launched our product subscription in the German household appliances market with BlueMovement from BSH Home Appliances Group, representing the world-renowned brand Bosch. But subscription has enormous strategic importance for tech giants like Apple. That’s why one of our early customers in Germany is Apple Premium Reseller FundK. 💬 Our CEO, Hendrik Roosna, said, “High interest towards an easily scalable and sustainable solution, and support from our financing partners in Germany, Commerzbank and TARGOBANK, has proved that there’s a market gap for this solution. With the strong backing from our investors, our mission is to make its benefits available to more and more merchants and consumers in Germany.” 👉 Read more: https://lnkd.in/dJw3RVzu #sustainability #ecommerce #circulareconomy #payments #recommerce #sustainable #sustainablepayments #sustainablefinance #productasaservice #recycling #ewaste #productreuse #financialtechnology #productbuyback
STIHL Ventures, thank you for your support and share! 🙌 Germany is definitely ready for a sustainable product subscription solution that brings business growth for merchants and affordable offers for consumers. 🌿 We're excited for what's to come! 🚀