HTGF et al. sell Sunhill to Volkswagen Financial Services

Besides HTGF, the other selling investors include MIG7, Bayern Kapital and KfW Bank Group. MIG held a 43% stake, which it wholly divested as part of the transaction.

The company plans to accelerate its international expansion with the help of its new owner.

MIG is a venture capital firm specialising in early- and expansion-stage transactions. It usually invests in the life sciences and technology sectors in German-speaking countries. The company has around €700m in funds under management.

Previous funding
HTGF and MIG were the first VCs to invest in Sunhill in 2008 with seed funding. Bayern Kapital and KfW joined them as shareholders in 2010.

Company
Founded in 2001 and based in Erlangen, Sunhill develops mobile payment solutions, specialising in mobile ticketing and mobile parking management. The company collaborates with European mobile communications providers to develop its cashless payment methods. It has two million users across 150 locations. 

People
Matthias Mandelkow and Christoph Schwarzmichel are the founders of Sunhill.

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