Innogy Ventures leads €13m series-C for Move24

Also participating in the round are VC firms Holtzbrinck Ventures, DN Capital, Piton Capital and Cherry Ventures, as well as private investors.

Move24 plans to hold further closes on the round, potentially raising up to €20m in the round over the next eight weeks. The company denied rumours of potential consolidation in the house removals market.

This announcement comes months after its competitor, Movinga, raised an extra €5m in an effort to reinvigorate the business after attracting negative headlines for laying off employees and becoming the subject of a document fraud investigation. The two companies were launched around the same time and have been competing for market dominance since.

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 for the company.

A series-B round came in October 2016, with Holtzbrinck leading the €13m funding. Existing backers DN, Piton and Cherry also committed to the round. The VCs were joined by energy company Innogy, which invested for the first time.

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

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. It employs 200 people and has moved around 50,000 customers since inception.

People
DN Capital – Nenad Marovac (managing partner).
Move24 – Ante Krsanac (co-CEO).

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