IBB reinvests in Yachtico

IBB's investment was made via the VC Fonds Kreativwirtschaft Berlin, a €30m vehicle. The new capital will be used to step up the firm's expansion in the US market. IBB invested alongside previous and new investors.

The financing round is Yachtico's second capital injection by external investors. The firm's seed round was financed by IBB and media group PDV Inter-Media Venture in July 2011.

IBB injects early-stage capital in start-ups based in Berlin. The venture capital firm typically invests up to €1.5m in the first financing round. Its overall investment in each business can amount to up to €3m over several rounds of financing.

It is the second deal for IBB this month. The firm invested in sporTrade, an online sport equipment marketplace, alongside German Startups Group on 20 August.

Company
Yachtico is operated by 10Start and was founded in January 2011. Its German head office is in Berlin while its American headquarters are in San Jose, California.

Yachtico currently offers more than 17,000 yachts and boats on its website. Around 150,000 clients log into the website each month, mainly from Europe and the US, but also from Asia, Australia, New Zealand and Canada.

People
Ron Hillmann and Steffen Brünn are co-founders of Yachtico. Rima Thadani is an investment manager at IBB and led the deal.

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