German start-ups raised a record EUR 4.6 billion in 2018 – a rise of 7 per cent over 2017, according to the Start-up-Barometer Deutschland published by Ernest & Young in January. The start-up scene in Hamburg set a new record and raised a total of EUR 548 million last year.
Hamburg’s About You in top five
The figure corresponds to an increase of 138 per cent over 2017. A volume of EUR 548 million put Hamburg third after Berlin and Bavaria in terms of total funds. Some 42 investments in 40 Hanseatic start-ups led to a 9 per cent increase in transactions over 2017 putting Hamburg fourth nationwide in terms of financing rounds after Berlin, Bavaria and North Rhine-Westphalia. Apart from Berlin, Hamburg is the only German state in the top five. The fashion tech start-up About You ranked second after raising EUR 264 million last summer. The investment saw the Otto-owned start-up become Hamburg’s first unicorn.
Elbe metropolis leads in e-commerce, fintech and mobility
The e-commerce sector was the scene of the largest transactions in Hamburg. A total of EUR 322 million put Hamburg in second place. Fintech start-ups in Hamburg also raised a record EUR 88 million in three financing rounds most of which went to the Open Banking Platform Deposit Solutions. Start-ups in Hamburg e.g. Wunder Mobility software company were also successful and raised a total of EUR 80 million.
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