Santo leads €22m funding round for Movinga

Santo's investment is €18m, structured in two €9m tranches, the second of which will be released in spring 2018 subject to certain conditions being met. Earlybird and Rocket Internet are providing a further €4.4m.

Competitor Move24 (previously Movago) has competed with Movinga to dominate the online move-planning market ever since the former was launched in 2015. There were rumours of a merger between the two at the start of 2017 but Move24 denied this was a possibility when it announced its €13m series-C in May. 

Movinga attracted negative headlines in 2016, over its lay off of 150 employees, withdrawal from the UK and Italy, a police investigation into the company's founders for document fraud, and their subsequent resignation.

The company appointed new management and is now headed by Finn Hänsel and Christoph Müller-Guntrum.

Previous funding
Movinga raised its first funding round in August 2015, announcing that Earlybird and a number of business angels had invested a seven-digit sum in the company. 

The next capital injection followed in October that year, when existing backers joined Rocket Internet for a €6m round. In November 2015, Finn Age Hänsel joined the company as an investor as well as managing director.

In January 2016, Index Ventures led a $25m series-B for Movinga, alongside the company's existing backers. 

Finally, Earlybird again took the lead in a €5m funding round in August 2016, alongside Rocket Internet. 

Company
Founded in January 2015 and based in Berlin, Movinga lets users organise their house move online. It has its own fleet of removal vans and also borrows spare vehicles from other removal firms. The company claims to have arranged more than 30,000 moves and generated revenues of more than €20m.

People
Movinga – Finn Age Haensel (CEO).

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• Topics
• Expansion
• DACH
• Consumer
• Germany
• Earlybird
• Venture