XAnge invests in Sunacare

The investor drew capital from its XAnge Digital 3 fund, a €90m vehicle that held a final close in December 2018, against its €120m target. The vehicle makes early-stage investments in French and German companies in the range of €500,000 to €8m.

XAnge partner Bernhard Schmid told Unquote that many of Sunacare’s competitors are operating almost entirely offline and he was attracted to Sunacare’s digital model. Schmid added that the first aim is to becoming the leading service provider in the German speaking market before targeting further international expansion.

Schmid will be joining the board of Sunacare to support the management team. He said the most likely exit route would be to a larger healthcare provider.

Company
Sunacare was founded in 2011 by CEO Daniel Schlor. The company operates a 24-hour service available over the phone or online, to assess the needs of elderly people and offer them home care services. The company employs 15 people and is based in Munich.

People
XAnge Private Equity - Bernard Schmid (partner).

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• Topics
• Expansion
• DACH
• Consumer
• Germany
• Venture
• XAnge Private Equity