Holtzbrinck recommits for Move24's series-B

Existing backers DN Capital, Piton Capital and Cherry Ventures also committed to the round. The VCs were joined by energy company Innogy, which invested for the first time.

The fresh capital will be used to strengthen the company's position in its existing markets and to broaden the range of services offered. Move24 invests in technology to simplify moving, improving the customer experience, and is developing an algorithm that optimises relocation routes.

The startup, which changed its name from Movago to Move24 in March this year, said it will continue to focus on the 10 European markets in which it is currently active. The statement comes three months after competitor Movinga had to lay off 150 employees and withdraw from the UK and Italy.

Previous funding
In August 2015, Holtzbrinck and Piton led a seven-digit seed round for Move24, then known as Movago. In November 2015, DN Capital led a €7m series-A the company.

Company
Founded in 2015 and based in Berlin, Move24 provides relocation services such as planning, invoicing and the move itself.

The startup claims that by bundling and combining relocation jobs, it reduces empty trips and unused transport volume, thereby saving money for both consumers and local partners.

People
DN Capital – Nenad Marovac (partner).
Move24 – Ante Krsanac, Anton Rummel (co-CEOs).

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• Topics
• DACH
• Expansion
• Consumer
• Germany
• DN Capital
• Holtzbrinck Ventures
• Venture