Capital raising services in Germany

Germany is the second-largest VC market in continental Europe, with Berlin, Munich and Hamburg together attracting over €5 billion in venture investment annually across enterprise software, deeptech, climate and fintech.

Growth rounds at companies like Trade Republic, Celonis and Forto have drawn capital from the world's leading growth equity firms, demonstrating that German founders can access Tier 1 international capital when their story and preparation are right.

We work with mid- to late-stage German startups on raising growth capital, combining an extensive network of German, pan-European and US VCs with the detailed operating and financial model builds that sophisticated investors expect. From the first investor conversation to term sheet negotiation and close, we manage the process - handling pitch deck development, thorough preparation and end-to-end investor relations - so founders stay out of the fundraise and in the business.

366

VC rounds raised in the last 12 months in Germany

$69M

Median VC valuation (across all stages) in Germany

34x

Median VC revenue multiple (across all stages) in Germany

$707M

Largest VC round raised in Germany in the last 12 months

Raising venture capital in Germany

Germany is the second-largest VC market in continental Europe after France by capital deployed. Most rounds use BVK-aligned documentation, convertible loans (Wandeldarlehen) are the standard pre-priced instrument, and foreign investment review is a real consideration in deep tech and dual-use sectors.

BVK-aligned documentation

The Bundesverband Beteiligungskapital (BVK) is the German private capital association. While Germany does not have a single universal model term sheet on the scale of the BVCA in the UK, most active German VCs work from a shared core of documentation conventions for Series A and beyond. Notarisation of share transfers is mandatory and a recurring closing-day cost.

Convertible loans (Wandeldarlehen)

Convertible loan notes are the standard pre-priced instrument in Germany - used for bridges and seed rounds where founders want to avoid a full priced round. Conversion typically at the next round at a discount or capped valuation. SAFEs are uncommon outside US-funded German companies.

Round structure norms

Priced equity rounds dominate from seed onwards. Standard preference structure is 1x non-participating liquidation preference with broad-based weighted average anti-dilution. Vesting on founder shares (4-year, 1-year cliff) is now standard in seed and Series A documentation.

INVEST grant shapes angel rounds

The BAFA INVEST grant refunds 25% of an angel's ticket on qualifying investments. Structured angel rounds frequently include INVEST-eligible investors and design the cap table and minimum holding period (3 years) to preserve grant eligibility.

Foreign investment review (AWG / AWV)

The Außenwirtschaftsverordnung (AWV) requires notification or approval for non-EU investors taking shares above certain thresholds in companies operating in sensitive sectors - defence, dual-use, AI, critical infrastructure, biotech. Notifications run through the BMWK and can add 1 to 4 months to closing in scoped sectors.

Notarised closings

Every transfer or new issue of GmbH shares must be recorded by a German notary, which determines the closing-day mechanics for almost all German VC rounds. Notary fees scale with deal size and are typically split between buyer and seller. Closings are normally coordinated as in-person or video-notarised events.

Largest private tech companies in Germany

Aleph Alpha valued at $20B is the largest still privately-owned company in Germany.

See all large tech companies in Germany

	Description
Aleph Alpha	Aleph Alpha is a Heidelberg, Germany-headquartered AI company developing generative models for enterprises and governments. Its solutions support multimodal large language models like Luminous, enabling custom intelligent products in sectors including defense, energy, and manufacturing. Founded in 2019, it serves clients through Heidelberg's AI research hub.	Nov-23	$500M Series B	$20B
Trade Republic	Trade Republic is a Berlin-headquartered mobile brokerage offering commission-free trading in stocks, ETFs, and derivatives. Launched in 2015, the app serves European retail investors with instant order execution and savings plans. It invests client cash in money market funds and supports fractional shares. Regulated by BaFin, it expands across Germany, France, and Spain.	Jun-22	$262M Series C	$14B
Helsing	Helsing is a Berlin-headquartered defense technology firm founded in 2021 that supplies AI software platforms for land, air, naval, and subsurface operations. The company integrates its systems with military hardware from partners like Rheinmetall for autonomous target detection, strike coordination, and reconnaissance. Key products include AI-enabled strike drones resistant to electronic warfare, underwater surveillance vehicles, and wingman pilots for fighter jets, deployed by European armed forces.	Jun-25	$707M Series D	$14B
Celonis	Celonis is a Munich-headquartered software company that delivers process mining technology through its Execution Management System. The platform includes analytics tools, Celonis Studio for custom applications, and capabilities for strategy, planning, management, actions, and automation. It enables business executives to optimize operations across industries with clients such as Siemens, Deutsche Telekom, and PepsiCo. Celonis maintains offices in New York, London, and Tokyo.	Aug-22	$400M Series D	$13B
N26	N26 is a Berlin-headquartered mobile bank operating in 24 European countries since 2013. It offers current accounts, international transfers via SEPA, investments through N26 Invest, and cash deposits at 40,000 partner retailers. The app supports Spaces sub-accounts, overdrafts up to €10,000, and cryptocurrency trading for personal and business users.	Oct-21	$896M Series E	$9.0B
Personio	Personio is a comprehensive HR platform designed for small and medium-sized businesses throughout Europe. Founded in 2015 and headquartered in Munich, Germany, the company delivers integrated tools for recruiting, payroll processing, performance reviews, time tracking, and employee onboarding. It supports localized compliance in countries including Germany, France, the United Kingdom, Spain, the Netherlands, Austria, Switzerland, and Ireland. Personio connects with applications such as Microsoft Teams, Slack, and Google Workspace to streamline workflows. The platform processes payroll for over 1 million employees monthly and maintains ISO 27001 certification for data security.	Jun-22	$200M Series E	$8.0B
ISS STOXX	ISS STOXX is a data, analytics, and index provider formed in 2023 through the merger of Institutional Shareholder Services and STOXX, the index business of Qontigo. Operating as part of Deutsche Borse Group's Investment Management Solutions division, the combined entity delivers corporate governance and ESG research, fund intelligence, and a broad suite of benchmark and custom indices including the EURO STOXX 50, DAX, and related index families. The firm employs approximately 3,800 people across 30 offices in 20 countries and serves more than 5,500 institutional clients. In February 2026, Deutsche Borse acquired General Atlantic's remaining 20% stake for EUR 1.1 billion, bringing its ownership of ISS STOXX to 100%.	-	-	$5.5B
Smart	Smart is an automotive brand producing compact urban vehicles under a joint venture between Mercedes-Benz Group and Geely, with manufacturing in Hambach, France, and Bovisio-Masciago, Italy. The company offers the smart fortwo coupe, cabriolet, and forfour models, enhanced by BRABUS tuning packages that boost engine output to 109 horsepower from the standard 91-horsepower rear-mounted electric or gasoline powertrains. BRABUS variants feature 18-inch alloy wheels, lowered sports suspension, and exclusive leather interiors in the Xclusive trim. Launched in 1998, Smart vehicles emphasize rear-engine layout for tight parking maneuvers and city navigation across Europe, North America, and Asia.	Sep-23	$150M strategic inv.	$5.3B
n8n	n8n is a Berlin-headquartered open-source workflow automation platform supporting over 500 app integrations for technical teams. The self-hostable tool enables drag-and-drop or code-based creation of AI agents using nodes for OpenAI, Hugging Face, and vector databases. n8n's cloud version processes enterprise-scale automations for DevOps, marketing, and data pipelines.	Oct-25	$180M Series C	$5.2B
Flink	Flink is a Berlin-headquartered online grocery platform founded in 2020 that delivers multi-category products including fresh herbs, fruits, bread, essentials, and home supplies within ten minutes. The application emphasizes convenience items to reduce transit costs and time, operating rapid delivery services across urban areas in Germany and expanding into other European markets.	Mar-26	$100M	$5.2B
wefox	wefox is a Berlin-headquartered insurtech platform that links insurers, brokers, businesses, and customers across Europe for digital policies in health, liability, and disability lines. Operating in Germany, Italy, Poland, and Switzerland, it provides policy management, claims processing, and instant quotes through a broker-focused model. The company serves over 700,000 customers via its app and web interface.	Jul-25	$87M	$4.6B
Quantum Systems	Quantum Systems is a Munich-based manufacturer of AI-powered drones like Trinity Pro and Vector for defense, security, and emergency response. Its heavy-lift VTOL systems provide BVLOS reconnaissance with EO/IR payloads and real-time data analytics, serving NATO forces, border patrols, and firefighting units in Europe and the Middle East.	Dec-25	-	$3.5B
Black Forest Labs	Black Forest Labs is an Amsterdam-headquartered developer of generative AI models for visual content creation. Founded in 2024 by former Stability AI executives, it released the FLUX.1 suite in 2024, featuring Pro for high-fidelity images, Dev for API integration, and Schnell for local inference. The hybrid diffusion-transformer architecture supports text-to-image and image-to-image generation, with open-weight models available on Hugging Face and enterprise APIs powering tools from creative software firms.	Dec-25	$300M Series B	$3.3B
FlixBus	-	Jun-21	$650M Series G	$3.0B
Contentful	Contentful is a Berlin-headquartered headless content management system powering digital experiences. The platform serves 30% of Fortune 500 companies including Chanel, Shopify, and BP, unifying content delivery across websites, apps, and IoT devices. Contentful integrates with 500+ tools via APIs, enabling omnichannel strategies for global brands.	Jul-21	$175M Series F	$3.0B
Parloa	Parloa is a Berlin-headquartered conversational AI platform automating customer service across voice, chat, and messaging channels. Its AI agents manage inquiries for insurance, retail, and telecom firms, with natural language processing in 20 languages. Deployed by Swiss Life for 24/7 phone support and Decathlon for e-commerce chats, Parloa handles 5 million interactions monthly. Founded in 2017, it complies with DSGVO standards and integrates with CRM systems like SAP and Genesys.	May-26	strategic inv.	$3.0B
Peregrine.ai	Peregrine.ai is a Berlin-based edge AI provider for transportation data processing. Its software runs on vehicles to generate real-time insights for safety, mapping, and infrastructure from telematics. Optimized for embedded systems, it minimizes cloud dependency and emissions. Founded in 2020, Peregrine.ai licenses to telematics firms and serves logistics and urban planning sectors across Europe.	Mar-25	$1.6M Seed	$2.5B
Forto	Forto is a digital freight forwarder operating across Europe with a platform for ocean and air cargo bookings. Berlin-headquartered since 2016, it uses AI for rate comparisons, documentation automation, and tracking, handling 100,000 TEUs annually. The company serves shippers like automotive suppliers, partnering with carriers such as Maersk for seamless door-to-door logistics.	Mar-22	$250M Series D	$2.1B
TIER Mobility	Berlin-headquartered TIER Mobility is a shared micromobility operator deploying e-scooters, e-bikes, and e-mopeds across more than 20 European cities. Founded in 2018, it powers vehicles with a proprietary energy network and focuses on climate-neutral operations to reduce urban car dependency.	Oct-21	$198M Series D	$2.0B
GetYourGuide	GetYourGuide is a Berlin-headquartered online marketplace for booking tours, attractions, and activities in over 170 destinations worldwide. It offers excursions, cooking classes, tickets to landmarks, and guided experiences via website and mobile apps. Providers pay commissions on bookings, with customer reviews ensuring quality. Founded in 2009, GetYourGuide partners with local operators and serves millions of travelers annually.	Jun-23	$85M Series F	$2.0B
commercetools	commercetools is a cloud-native, composable commerce platform enabling B2B and B2C enterprises to build scalable omnichannel experiences across web, mobile, tablet, and POS. Munich-headquartered and recognized as a market leader, the company serves brands like Audi, Danone, Eurostar, NBCUniversal, Sephora, and Volkswagen Group. Launched a decade ago, its API-first architecture supports rapid adaptation to trends without infrastructure constraints.	Sep-21	$138M Series C	$1.9B
Sdui	Sdui is a Koblenz-based EdTech firm founded in 2018, supplying digital operating systems for schools and preschools. GDPR-compliant platforms connect teachers, educators, parents, and children with chat, translation, cloud, class registers, and AI lesson planners. Including PUPIL administration and Additio for learning and grades, it supports 22,000 institutions in over 70 countries post-FoxEducation acquisition, employing around 230 staff.	Jul-25	$37M Series C	$1.8B
Scalable Capital	Scalable Capital is a Munich-headquartered neobroker offering commission-free ETF trading and robo-advisory for retail investors across Germany. Founded in 2014, the platform manages 5 billion euros in assets with automated portfolios and prime brokerage for institutions. Scalable Capital partners with BlackRock for index funds and operates via Gettex exchange connectivity.	Jun-25	$183M Series E	$1.8B
Solaris	Solaris is a Berlin-based Banking-as-a-Service platform holding a full German banking license. The company enables partners to embed modular services like digital accounts, payment cards, KYC, lending, and crypto custody via APIs. Backed by investors including BBVA, Visa, and Lakestar, Solaris powers financial products for fintechs and brands across Europe.	Feb-25	$145M Series G	$1.8B
Razor Group	Razor Group is a Berlin-based holding company acquiring and scaling e-commerce brands in consumer goods categories like home and beauty. It applies growth expertise in Amazon marketplaces, supply chain optimization, and marketing to portfolio companies. Razor Group operates across Europe and North America with dedicated teams for operations and expansion.	Mar-24	$100M Series D	$1.7B
1Komma5°	1Komma5° is a Berlin-headquartered ClimateTech company delivering integrated energy solutions at 80 sites in seven markets including Germany, Austria, and the US. It installs photovoltaics systems up to 10 kWp, battery storage with 15 kWh capacity, heat pumps for heating, and EV charging stations bundled into subscription models for residential and commercial properties.	Dec-24	$155M	$1.4B
Choco	Choco is a Berlin-headquartered B2B platform connecting 50,000 European restaurants with 10,000 suppliers for ingredient orders. Founded in 2018, its app mimics consumer interfaces with chat and ordering lists, processing €4 billion in orders annually. Available in Germany, France, and the UK, Choco raised $150 million in funding and partners with Metro AG and Sysco for digital procurement.	Feb-23	$26M	$1.2B
STARK	STARK is a developer of integrated defense and security systems for military and law enforcement applications. The company produces tactical protection gear, surveillance platforms, and strategic communication tools designed for high-threat missions. STARK focuses on modular systems that enhance operational integrity in combat and border security scenarios worldwide.	Feb-26	-	$1.2B
Chrono24	Chrono24 is a Karlsruhe-headquartered online marketplace listing luxury watches from Rolex, Omega, and Cartier through 3,000 dealers worldwide. Founded in 2003, the platform processes sales from 120 countries with buyer protection and escrow services. It hosts over 500,000 listings updated daily.	Aug-21	$118M Series C	$1.2B
Blacklane	Blacklane is a Berlin-headquartered chauffeur service operating in over 500 cities across 50 countries, providing carbon-neutral airport transfers, hourly hires, intercity journeys, and corporate travel in premium hybrid and electric vehicles. The company features real-time flight tracking, meet-and-greet options, a mobile app for bookings, and partnerships with airlines and hotels, maintaining carbon neutrality since 2017 through offsets and sustainable fleet choices.	Oct-24	$65M Series G	$1.1B
Staffbase	Staffbase is a Dresden-headquartered employee communications platform founded in 2014 serving over 2,500 companies worldwide in manufacturing, healthcare, logistics, automotive, retail, and utilities. The mobile-first cloud solution delivers targeted corporate news, intranet integration, feedback tools, and digital workplace features to frontline and deskless workers globally.	Mar-22	$115M Series E	$1.1B
Raisin	Raisin is a Berlin-headquartered fintech platform founded in 2012 that operates as a savings and investment marketplace. It links retail savers with partner banks across Europe and the United States for fixed-term deposits and cash products with competitive rates. The single dashboard enables easy account opening, management, and withdrawals from institutions like Banca Sistema in Italy and Brabo Bank in the Netherlands. Following the June 2021 merger with Deposit Solutions to form Raisin DS, the company broadened its fixed-income offerings and market presence.	Mar-23	$65M Series E	$1.1B
Taxfix	Taxfix is a Berlin-headquartered platform processing over 6 million tax returns across Germany, France, and Belgium. Brands like Taxfix app for self-filing, Steuerbot for AI guidance, and TaxScouts for advisor-assisted services cover Einkommensteuer and local deductions. Founded in 2017, the group expands with expert networks in multiple countries.	Apr-22	$220M Series D	$1.0B
OneFootball	OneFootball is a Berlin-headquartered digital media platform delivering live scores, news, videos, and statistics for over 100 soccer leagues worldwide. Founded in 2014, the app covers competitions from Premier League and Bundesliga to MLS and Copa Libertadores, partnering with organizations like Major League Soccer and UEFA clubs. Features include match calendars, player stats, and highlight clips, attracting millions of monthly users across iOS, Android, and web. OneFootball expanded into podcasting and fantasy leagues.	Apr-22	$300M Series D	$1.0B
Grover	Grover is a Berlin-based platform for subscription-based rentals of consumer electronics including smartphones from Apple and Samsung, laptops from Dell and MacBook, headphones, cameras, and smart home devices. The service delivers over 3,000 product models across Germany, Austria, the Netherlands, Spain, and the United States with free shipping and insurance. Grover refurbishes returned items through certified processes to extend product lifecycles. Launched in 2015, it partners with retailers like MediaMarkt.	Jul-24	$54M	$1.0B
Agile Robots AG	-	Apr-22	$30M	$1.0B
osapiens	osapiens is a provider of ESG compliance software through its AI-powered osapiens HUB platform. The SaaS solutions enable companies to assess risks, report under CSRD, EUDR, and CSDDD frameworks, and integrate sustainability across supply chains using cloud-based automation.	Jan-26	$100M Series C	$1.0B
SellerX	SellerX is a Berlin-headquartered firm that acquires and scales Amazon FBA brands across Europe. The company purchases established seller accounts generating consistent revenue, then invests in product development, supply chain optimization, and marketing expansion. Operations span consumer goods categories like home and kitchen, beauty, and electronics. SellerX integrates acquisitions into its central warehouse network in Germany for faster fulfillment and pan-European distribution.	May-23	$64M	$1.0B
Sennder	Sennder is a Berlin-headquartered digital freight forwarder connecting shippers with truck carriers across Europe. The platform automates truckload bookings, offers real-time tracking via mobile apps for drivers, fleet tools for managers, and API integrations for shippers' transport management systems. Sennder operates in 10 countries including Germany, France, and the UK, handling millions of shipments annually to streamline road freight logistics.	Jun-21	$80M Series D	$1.0B

Startups who recently raised money in Germany

Largest VC round raised recently in Germany was a $350M Series D of Parloa in January 2026.

See all VC rounds in Germany

		Description	Investors
Jan-26	Parloa	Parloa is a Berlin-headquartered conversational AI platform automating customer service across voice, chat, and messaging channels. Its AI agents manage inquiries for insurance, retail, and telecom firms, with natural language processing in 20 languages. Deployed by Swiss Life for 24/7 phone support and Decathlon for e-commerce chats, Parloa handles 5 million interactions monthly. Founded in 2017, it complies with DSGVO standards and integrates with CRM systems like SAP and Genesys.	Altimeter CapitalDurable Capital Partners+3	$350M	$3.0B	Series D
Dec-25	Black Forest Labs	Black Forest Labs is an Amsterdam-headquartered developer of generative AI models for visual content creation. Founded in 2024 by former Stability AI executives, it released the FLUX.1 suite in 2024, featuring Pro for high-fidelity images, Dev for API integration, and Schnell for local inference. The hybrid diffusion-transformer architecture supports text-to-image and image-to-image generation, with open-weight models available on Hugging Face and enterprise APIs powering tools from creative software firms.	AMPSalesforce Ventures	$300M	$3.3B	Series B
Nov-25	Quantum Systems	Quantum Systems is a Munich-based manufacturer of AI-powered drones like Trinity Pro and Vector for defense, security, and emergency response. Its heavy-lift VTOL systems provide BVLOS reconnaissance with EO/IR payloads and real-time data analytics, serving NATO forces, border patrols, and firefighting units in Europe and the Middle East.	Balderton Capital	$209M	$3.5B	Series C
Apr-26	Sereact	Sereact is a Munich-based robotics firm developing vision-language-action models for autonomous warehouse operations. Its AI software enables robots to perform picking, sorting, and navigation tasks using natural language instructions and real-time environmental adaptation. Sereact integrates with AGVs from partners like Geek+, targeting e-commerce fulfillment centers in Germany and the United States.	Air Street CapitalBullhound Capital+5	$110M	-	Series B
Mar-26	Flink	Flink is a Berlin-headquartered online grocery platform founded in 2020 that delivers multi-category products including fresh herbs, fruits, bread, essentials, and home supplies within ten minutes. The application emphasizes convenience items to reduce transit costs and time, operating rapid delivery services across urban areas in Germany and expanding into other European markets.	Btomorrow VenturesProsus Ventures	$100M	$900M	Undisclosed stage
Jan-26	RobCo	RobCo is a Munich-based robotics firm offering a modular platform for industrial automation that assembles customized robots using stackable components for tasks like machine tending, pick-and-place, and deburring. Founded in 2019, it serves mid-sized manufacturers in automotive, electronics, and metalworking industries across Europe with systems integrating AI vision and force control. RobCo's TaskEye software enables remote monitoring and programming for factories in Germany, Switzerland, and France.	EXORGreenfield Partners+6	$100M	$500M	Series C
Jan-26	osapiens	osapiens is a provider of ESG compliance software through its AI-powered osapiens HUB platform. The SaaS solutions enable companies to assess risks, report under CSRD, EUDR, and CSDDD frameworks, and integrate sustainability across supply chains using cloud-based automation.	ArmiraDecarbonization Partners+1	$100M	$1.0B	Series C
Mar-26	Upvest	-	Bessemer Venture PartnersMichael Spirito+2	$90M	$735M	Series D
Jan-26	Orbem	Orbem is a sensor-based AI system for monitoring animal breeding in agriculture. Its magnetic resonance imaging technology analyzes biological samples to classify traits and optimize food production lines. The platform enhances cost efficiency and generates new revenue through high-quality protein outputs for livestock operations.	83NorthGeneral Catalyst+4	$66M	-	Series B
Mar-26	Entrix	Entrix develops software and services for energy storage and renewable assets, including digital platforms for automated trading, control, and market integration. Utilities and asset owners use its tools for forecasting, analytics, and battery management.	ABACONAENU+6	$51M	-	Series B
Mar-26	Midas	Midas is a São Paulo-based mobile application for cryptocurrency trading and investment accessible in Brazil. The platform enables buying, selling, and staking of Bitcoin, Ethereum, Solana, and over 30 altcoins with PIX instant deposits. Regulated by the Central Bank of Brazil, it offers educational resources, portfolio tracking, and NFT marketplace integration. Launched in 2021, Midas supports recurring buys and yield farming for retail investors.	Nathan McCauleyCoinbase Ventures+10	$50M	-	Series A
Mar-26	Qdrant	Qdrant is an open-source vector database built in Rust for high-dimensional similarity search in AI applications. Deployed as an API service or managed cloud on AWS and GCP, it handles billions of vectors for recommendation systems, semantic search, and anomaly detection. San Francisco-headquartered since 2021, Qdrant integrates with LangChain, Hugging Face, and Pinecone alternatives, powering production workloads at companies like Canva and Klarna with sub-millisecond query latencies.	42CAPAVP+3	$50M	-	Series B
Feb-26	Metiundo	Metiundo is a Berlin-based provider of hardware and software solutions for capturing property consumption data. The company installs metering equipment and supplies digital processing tools alongside a centralized platform for data oversight and management.	Octopus Energy generation	$47M	-	Series A
Feb-26	constellr	constellr is a Berlin-based space technology company developing hyperspectral imaging satellites for agriculture and environmental monitoring. Its constellation provides data on soil health, crop performance, and carbon sequestration, serving global farming operations and climate initiatives.	Alpine Space VenturesBayern Kapital+9	$44M	-	Series A
Dec-25	Mirelo AI	Mirelo AI is a platform generating custom sound effects and music synchronized to video content via upload or API, supporting editing, fine-tuning, and integration into creative workflows.	Andreessen HorowitzArthur Mensch+5	$41M	-	Seed

Top VCs and strategic investors in Germany

HTGF (High-Tech Gruenderfonds), HV Capital, Bayern Kapital and Y Combinator funded the most startups in Germany in the last 12 months.

See all VCs in Germany

	Description	Key portfolio
HTGF (High-Tech Gruenderfonds)	HTGF (High-Tech Gründerfonds) is a Bonn-headquartered seed investor managing EUR 576 million across two funds for technology startups in digital tech, industrial tech, life sciences, chemistry, and software. Established in 2005 as a public-private partnership with the German Federal Ministry of Economics, KfW, and 18 corporate investors, HTGF has backed over 600 companies including robotics, IoT, medtech, and biotech ventures across Germany.	SediventionMobility SignageTacalyx+2	94	Seed
HV Capital	HV Capital is a Munich-headquartered venture capital firm managing €2.8 billion across nine funds over 23 years. It invests €0.5 million to €60 million in 225 European internet and tech startups from seed to growth stages, with portfolio successes including Zalando, Delivery Hero, SumUp, Depop, Enpal, Flixbus, Sennder, and Isar Aerospace.	SPREAD AIMidasQontext+2	51	Series A
Bayern Kapital	Bayern Kapital is a Munich-based venture capital firm wholly owned by LfA Förderbank Bayern. The company invests in early-stage technology startups located in Bavaria across sectors like IT, life sciences, new materials, microsystems, and environmental technologies. It manages five funds including Seedfonds Bayern, Clusterfonds Start-Up, Innovationsfonds, Innovationsfonds EFRE, and Wachstumsfonds Bayern. Bayern Kapital has backed more than 250 companies since 1995, focusing on research, development, product launches, and market expansions.	XO LifeNature RobotsNoxon+2	48	Series A
Antler	Antler is a Singapore-headquartered global venture capital firm founded in 2017 that invests in early-stage tech companies. It operates day-zero programs in 27 cities, backing 1,000+ startups with $100 million deployed annually across AI, fintech, and sustainability. Portfolio includes unicorns like Hold One and Tiqets, with a network of 3,000 mentors and 700+ investors for follow-ons.	AIRMONetBirdPeec AI+2	47	Pre-seed
Y Combinator	Y Combinator is a San Francisco-headquartered startup accelerator that funds and mentors early-stage technology companies across sectors like software, biotechnology, and fintech. Since its inception in 2005, it has propelled alumni including Airbnb, Dropbox, and Stripe through intensive three-month programs featuring Demo Days and investor networks.	SitefireMango MedicalDiligent+2	33	Pre-seed
Project A Ventures	Project A Ventures is a Berlin-headquartered early-stage venture capital firm investing in European technology startups with financial and operational expertise. Managing over €1 billion in assets, it supports portfolio companies through teams specializing in software engineering, business intelligence, marketing, and talent acquisition. Investments span fintech leader Trade Republic, logistics provider sennder, telehealth service KRY, online marketplace Catawiki, remittance platform WorldRemit, ecommerce software Spryker, and electric scooter operator Voi.	LinexaAndercoreSpryker+2	27	Seed
Speedinvest	Speedinvest is a Vienna-headquartered venture capital firm investing in early-stage tech startups across Europe, Middle East, and Africa. From offices in Berlin, London, Paris, Milan, and Zurich, it backs companies in fintech, mobility, and SaaS like Bitpanda, GoStudent, and Tide with tickets from pre-seed to Series B. The firm leverages a network of 1,000 limited partners for follow-on funding and market expansion.	BLOCKSTower.devDiligent+2	27	Series A
Capnamic	Capnamic is a Luxembourg-based venture capital firm that invests in early-stage technology companies throughout Europe. It has executed more than 70 investments, achieved over 30 trade sales, and supported 13 initial public offerings. The firm connects institutional and corporate investors, providing portfolio companies with extensive networks in industries such as software, fintech, healthtech, and industrials. General partners bring expertise from roles at Bertelsmann, Deutsche Telekom, and other major corporations.	LogistikbudeOctonomyyasp+2	23	Series A
NRW.BANK	NRW.BANK is a Düsseldorf-headquartered development bank financing structural policies for North Rhine-Westphalia in Germany. It administers €20 billion in annual promotional loans across economy, housing, and infrastructure segments for municipalities and businesses. The bank channels funds from the state, federal government, and European Union into equity investments, guarantees, and advisory services, partnering with over 300 savings banks and commercial lenders. NRW.BANK supports projects like renewable energy plants in the Ruhr area and affordable housing in Cologne.	eleQtronodacovaCellbox Solutions+2	20	Seed
D11Z.Ventures	D11Z.Ventures is a venture capital firm based in Zug, Switzerland, that funds AI startups transforming industries like healthcare, finance, and logistics. The firm backs early-stage companies developing machine learning models, computer vision systems, and natural language processing tools. D11Z.Ventures supports founders through seed and Series A rounds with a portfolio spanning Europe and North America.	deeplifyPlatoCertHub+2	18	Pre-seed

What if not VC? Non-equity funding in Germany

Beyond VC, Germany has a deep public-funded ecosystem - KfW, the Forschungszulage and EXIST cover most early-stage non-dilutive options, with bank lending available later via the Hausbank model.

INVEST angel rounds

Angel rounds structured to qualify investors for the BAFA INVEST grant - 25% refund on the ticket, three-year minimum hold. The main scheme driving structured German angel investing.

Forschungszulage

Federal R&D tax allowance - 25% (35% for SMEs) of qualifying R&D personnel and contract costs, capped at €2.5M of base per year. Refunded if loss-making. Often the largest single source of non-dilutive cash for an R&D-heavy German startup.

KfW and HTGF

KfW provides ERP-backed subsidised loans (ERP-Gründerkredit, ERP-Startfonds) and anchor-LP funding for German VCs. High-Tech Gründerfonds co-invests at seed alongside private VCs and corporates. Both are state-backed but operate on commercial terms.

EXIST and Länder programmes

Federal EXIST stipends and grants for university spinouts; each Länd (Bayern, NRW, Berlin) runs additional grant and equity programmes through its state-level investment bank (LfA, NRW.BANK, IBB). Slow but non-dilutive and well-suited to deeptech.

Crowdfunding

Companisto and Seedmatch are the two main German equity crowdfunding platforms. Used for raises typically from €300k to €3M, often as a complement to a lead investor. Stronger penetration in consumer brands and impact-driven companies than in B2B tech.

Venture debt

Deutsche Handelsbank, HSBC Innovation Banking, Kreos and Claret Capital Partners are the most active providers in Germany. Typically deployed against ARR or contracted revenue from Series A onwards.

Why Flow Partners as your capital raising advisor?

We operate across four key principles that continuously allow us to deliver successful capital raising advice to winning founders in Germany.

Kraft KPI-driven narrative

High-growth companies require thorough understanding to accurately capture their value potential. We build compelling, data-driven equity stories that resonate with investors and minimize due diligence intensity.

Move fast and cut the BS

We have a strong appreciation for the power of speed and efficiency when fundraising. Expect a rigorously efficient deal process with minimized management distraction. Founders run the business, we pick up the heavy lifting.

Access relevant investors

Our close relationships with leading late-stage VC and growth equity investors as well as non-traditional capital providers, like family offices and sovereign wealth funds, enable us to find best-fit partners for a given scenario.

Valuation is only one part of the equation

When it comes to growth capital, valuation is only one side of the medal. We help to bridge incentive gaps between founders and investors and make sure you raise money on best possible terms.

We provide capital raising services across Germany and beyond

Sector expertise

Explore our VC fundraising offering across a variety of tech sectors in Germany.

Software

Vertical and horizontal SaaS, AI-native software products, infrastructure SaaS, cybersecurity

AI & ML

Foundation models, AI applications, AI infrastructure, semiconductors, AI consulting

Fintech

Neobanking, online payments, fintech infrastructure, lending platforms, wealth tech, online brokerage, vertical FS software

Consumer internet

Consumer software subscription platforms, edutech, online content, social networks, online dating

Digital media

Streaming platforms, mobile and console gaming, content distribution, digital publishing, VR & AR

E-commerce & marketplaces

Consumer and B2B marketplaces, inventory-based e-commerce, classifieds, lead generation platforms

Consumer products

Direct-to-consumer (D2C) brands, consumer electronics, smart home devices, lifestyle products

Mobility

Ridesharing, micromobility, food delivery, logistics tech, autonomous tech, EV charging infrastructure

Digital health

Digital therapeutics, telemedicine, mental health solutions, EHR and practice management, vertical healthcare SaaS

Industrial technology

Industry 4.0 solutions, 3D printing, climate tech, industrial IoT, robotics, smart manufacturing

Digital infrastructure

Data centers, cloud infrastructure, edge computing, network security, vertical infrastructure SaaS

IT services

Software development and testing, digital transformation, cloud services, advertising agencies, IT support services

Selected case studies

We've advised companies from series A to series D and beyond.

Our capital raising experience spans across various tech sectors and geographies.

See all case studies

We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.

Recently completed VC fundraising projects

Selected capital-raising mandates and prior investment experience.

Capital raising

Portfolio of online consumer lending platforms in Iceland

Capital raising

Online marketplace to buy second-hand clothing in Mexico and Colombia

Capital raising

All-in-one internal communication platform for employee engagement

Capital raising

AI-driven cybersecurity and IP protection software

Capital raising

Leading factoring platform in Icelandic market

Capital raising

Mobile gaming studio focused on esports community

Capital raising

Largest independent car sharing provider in Germany

Capital raising

Turkey-based cybersecurity platform for breach simulation

Capital raising

European satellite and terrestrial network provider

Capital raising

Accounting software for SMEs and freelancers in Germany and Austria

Capital raising

Technology platform and DTC brand for personalized skincare

Capital raising

Online marketplace for scrap metal trading

Investment

€50m investment from Geely. All-electric air taxis with vertical takeoff and landing.

Investment

$60m investment from TPG. ID authentication and digital record conversion software.

Investment

Investment from Silver Lake. Online intercity bus service across Europe, North America and Brazil.

Investment

Growth investment. Cloud-based sales CRM and pipeline management software.

Investment

$30m growth investment. Food and beverage brand with plant-based protein products.

Investment

Investment from WPP / Kantar. Digital and behavioral data intelligence provider.

Investment

Growth investment. Recruitment app for employer-candidate social media engagement.

Investment

Growth investment. End-to-end search engine optimization platform.

Investment

Investment from Acton. Virtual shopping mall and online marketplace platform.

IPO Advisory

€68m IPO. Career-oriented social networking site for the DACH region.

IPO Advisory

€1.2bn IPO. Czech digital infrastructure platform (telecom and ICT).

IPO Advisory

€41m IPO. Europe's largest online car and motorcycle tire platform.

Got questions?

Schedule a call ordrop us an email to learn more about our CFO-as-a-service, capital raising and M&A advisory offering.

Unlike traditional fundraising advisors, we truly understand tech businesses and the unique challenges they face. Our investment banking background combined with deep sector expertise allows us to build compelling equity stories and reach the right investors with conviction.

More services

We're with you before and after raising VC money: we help you organise your FP&A as fractional CFOs, and coordinate your M&A process.

Fractional CFO in Germany

We integrate into your workflows to help with financial modelling, build out FP&A tech stack, and ultimately provide guidance towards an M&A or raising venture capital.

Learn more

M&A in Germany

We advise winning tech companies on M&A exits, and over the years successfully executed numerous transactions with both financial and strategic buyers.

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Capital raising services in Germany

Raising venture capital in Germany

BVK-aligned documentation

Convertible loans (Wandeldarlehen)

Round structure norms

INVEST grant shapes angel rounds

Foreign investment review (AWG / AWV)

Notarised closings

Largest private tech companies in Germany

Startups who recently raised money in Germany

Top VCs and strategic investors in Germany

What if not VC? Non-equity funding in Germany

INVEST angel rounds

Forschungszulage

KfW and HTGF

EXIST and Länder programmes

Crowdfunding

Venture debt

Why Flow Partners as your capital raising advisor?

Kraft KPI-driven narrative

Move fast and cut the BS

Access relevant investors

Valuation is only one part of the equation

We provide capital raising services across Germany and beyond

Sector expertise

Explore our VC fundraising offering across a variety of tech sectors in Germany.

Selected case studies

We've advised companies from series A to series D and beyond.

Recently completed VC fundraising projects

Selected capital-raising mandates and prior investment experience.

Got questions?

How is Flow different from other capital raising advisors?

What stages do you cover?

How long does a fundraise typically take?

What is your fee structure?

More services

Fractional CFO in Germany

M&A in Germany

Talk to us

Schedule a call to get a health check on your business and see how we could help.

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