Project A Ventures sells Tirendo for €50m

Project A initally invested in Tirendo at the beginning of 2012, when the seed investor also backed online car equipment comparison platform Toroleo. Project A held a 26% stake in the company.

Project A was founded last year by Uwe Horstmann and Christian Weiss, former managers of Rocket Internet – a fellow incubator behind start-ups such as online fashion retailer Zalando. It is based in Berlin.

Company
Car tyre specialist vendor Tirendo went online in March 2012. It currently operates in eight European countries: DACH, France, Belgium, the Netherlands, Poland and Sweden.

People
Thies Sander is co-founder and CEO of Project A. Erik Heinelt and Felix Vögtle are co-founders of Tirendo and will remain CEOs.

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