BMH BRÄUTIGAM advises Earlybird on € 24 Million financing round of Instamotion
BMH BRÄUTIGAM has advised Earlybird Venture Capital on the Series B financing round of Munich-based e-commerce and mobility company Instamotion in the amount of €24 million.
As an independent provider, the company, which was founded in 2016, offers simple, secure, carefree and fully digital car purchases in Germany via its platform Instamotion for buying used cars. In just 15 minutes, customers can choose their own car from a selection of more than 30,000 immediately available young used cars –with financing with immediate confirmation, insurance, registration and delivery to their own doorstep included. In addition, the buyer receives a 14-day right of return and a 12-month all-inclusive warranty from co-shareholder Allianz.
With the current financing round, the management team (including Autoscout24 founder Dr. Nikolas Deskovic), which is highly experienced in the automotive and Internet industries, has succeeded in raising over 30 million euros in capital in less than 1.5 years. Instamotion intends to use the fresh capital to accelerate its expansion and extend its technological lead.
In addition to Earlybird Venture Capital, other existing investors such as THI Investments and ACT Ventures are participating in the current round. Lead investor Gruner und Jahr Digital Ventures who supports the company with a strategic investment, the same way Allianz already does, joins as a new investor.
Background: BMH BRÄUTIGAM has been advising Earlybird continuously on investments (most recently on the Series D financing round of Unicorn sennder, on the investment in Energy Robotics and Upvest, and already on the merger of Everoad and sennder) and has been able to further strengthen and expand the client relationship.
Team BMH BRÄUTIGAM: Dr. Alexander Wulff, Till Wansleben (both Venture Capital)