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Deep Tech Germany: AI, Robotics & Frontier Innovation by Startuprad.io™ This Month in German, Swiss, and Austrian (GSA) Startups — February 2023
Welcome to our February 2023 wrap-up with the important news from the startup scenes in Germany, Austria, and Switzerland in 30 minutes or less 🙂.
We follow our top-down structure in the news: First the top news, then we look with a bird’s eye view at the startup ecosystem in the German language countries, dig deeper by looking at interesting startup cities and end with general news. And for those of you who are really serious about startups, there is even a collection called: Stay ahead of the curve where we share interesting reads, articles, studies, and podcasts.
Welcome to our startup news wrap-up for February 2023 by Startuprad.io with Chris from New York City and Joe from Frankfurt. We recorded this news episode on February 21st, 2023.
All news not yet included here will be published in our next news episode. Find all links to the quoted news on our Medium blog, link below.
Our Highlights:
Rising interest rates are leading to an interest rate war between the neobrokers. We covered the troubled company Windeln.de, which is now liquidated. Farewell! Moonfare extended it’s Series C funding to more than 130 m US$, but we are not sure who invested in the last batch, since a fund is mentioned, that was also founded by Moonfare’s founder. The City of Mainz goes live with its quest to become a world-class biotech hub. N26 was reportedly in advanced talks to buy dutch broker Bux, but buxed out shortly before the closing. AAAAAAnd, we like to end on a high note: Raising is in the process of reclaiming its unicorn status with new funding. We have also some event recommendations for you and discounts from 20% to 100% for the events listed in our show notes.
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Top News
Neobrokers Just Started — What May Be An Interest Rate War (Chris)
After german unicorn Trade Republic had a smashing success with offering 2% interest for money deposited there now also fellow unicorn Scalable offers even 2,3%, BUT only from 100k € on and only if you are a subscriber (4.99/month)
Farewell Windeln.de
We have often talked in our news about the precarious position of windeln.de. Now it is finally liquidated
Who Extended Moonfare’s Series C?
Moonfare is a fintech from Germany, allows individuals to invest in Private Equity Funds, founded by former KKR Germany Head Steffen Pauls. They cap their Series C extension round at about $15M, bringing its Series C funding to $130 million+ the Berlin-based fintech allows HNWI, family offices, banks, and their advisor's access to top-tier private markets investments. BUT German business magazin Manager Magazin reports that for this extension the only investor mentioned by name is one that Mr. Pauls has co-founded.
You can find his profile at 7 Global Capital here on their website as Managing Partner and Founder.