Karmijn Kapitaal leads €10m round for Five Degrees

Karmijn, which provided the majority of the round, will hold a minority stake in Five Degrees as a result of the deal. Previous investors re-upping in the round include 5Square and Velocity Capital.

Karmijn invested via Karmijn Kapitaal Fund II, which closed on €90m this summer. Other investments by the vehicle include Kunst.nl, a B2B art rental service, and online art auction platform Kunstveiling.

Company management also invested in the group as part of the round, a source familiar with the matter told unquote".

The new round of investment is intended to enable Five Degrees to further develop its product and grow internationally.

Company
Five Degrees is a fintech company based in Amsterdam, with offices in Iceland and Serbia. Its digital platform, Matrix, provides fully automated banking services via a hub on which financial institutions can connect customers, channels, products and services.

Five Degrees provides project management as well as technical and functional knowledge. Its technical staff offers training of users, maintenance, and offers support on managing parts of the infrastructure.

People
Karmijn Kapitaal – Hadewych Cels (partner).
Five Degrees – Martijn Hohmann (CEO).

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