Movinga Wins €17m Funding Round

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Berlin-based online moving firm Movinga has annouced a €17 million ($18.25m) Series C funding round. The round, led by existing investors including Earlybird Venture Capital and Global Founders Capital, will be used to strengthen Movinga’s technology capacity in its core markets of Germany and France.

Since Movinga’s 2015 foundation the company has received $50m in funding across four rounds. It recently added 25 developers to a new tech hub, as it seeks to scale into neighboring Italy, Benelux and Scandinavia.

The company, whose platform streamlines the process of moving to a new home, will conclude 2016 with a booking volume of around €30m ($32.4m). It has punctuated a busy year with the arrival of former Zalando financial chief Jochen Cassel as CFO, and a multiplatform marketing campaign starring German-American actor Ralf Möller.

“We are very pleased with the significant funding round and the associated trust of both, our existing and new investors,” said Finn Hänsel, MD of Movinga. “The successful funding enables Movinga to further reinforce the ongoing push towards technology and quality.”

Movinga’s experienced team “have successfully taken the company to the next level,” added Earlybird Venture Capital co-founder and partner Hendrik Brandis. Earlybird’s €800m ($863m) of capital under management includes portfolio firms such as Inkitt; Flipps; N26 and socialbakers. It has executed six IPOs and 22 trade sales to date.