HTGF backs isaac10’s seed round

The company previously received pre-seed investment from five business angels. The fresh financing will be used to further develop the technology and to expand the team.

Once on the market, the company will be competing with the likes of online payment platform SlimPay, a French startup which raised €15m in July 2015.

HTGF manages two funds, HTGF I with €272m, and HTGF II with €304m. Its investors are private as well as institutional, including the German Federal Ministry of Economics and Energy and corporates such as BASF, Robert Bosch, Daimler and Deutsche Telekom.

Company
Founded in 2014 and based in Leipzig, isaac10 develops an API for recurring payment automation. It acts as a payment service provider in order to implement SEPA, Paypal and credit card transactions. Furthermore, it is a recurring billing service and provides solutions for more complex tariff structures.

People
Christian-André Knips (CEO) and Tilo Dietrich (CTO) are the founders of isaac10. Stefan Wendel is senior investment manager at HTGF.

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• Topics
• DACH
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• Early-stage
• Germany