Movago, a Geman removals startup, closes high 7-digit seed financing round, lead by Holtzbrinck Ventures and Piton Capital
Movago announced the closing of its Seed financing round lead by Holtzbrinck Ventures and Piton Capital. Beside the two venture capital firms, well-known business angels Christian Bertermann (Auto1), Philipp Magin & Ronny Lange (CityDeal, Quandoo) and Christopher Muhr (Citydeal, Auto1) participated in this round.
Movago operates directly from launch in Germany, UK and France with local teams in each country. Based on a standardized fixed pricing and its self-learning routing algorithm, the company envisions to make professional moving convenient and affordable. Improving the underlying economics for each job and making service quality more transparent will result in best value for price for both private and corporate customers. Movago operates moving jobs itself as well as utilizes certified professional partner companies in utilization peaks.
“We are investors in companies, operating marketplace models with strong network effects and ambitious growth aspirations. We are impressed by the management team and believe Movago is best positioned to build an internationally established, trusted brand in this space.” says Andrin Bachmann from Piton Capital.
“We saw the enormous opportunity to disrupt the moving space as a large, fragmented market. We focus on building a technology that allows us to reach significant efficiency gains for our partners and us that will result in best prices for our customers. Combined with our strong service orientation we can offer best value for price which is the major decision criteria for services like professional moving.” says Maximilian Lanig, Co-Founder and Managing Director of Movago.
Source: Movago Press Release