This is the third instalment of our Global Tech Hub series. Each instalment looks at one of the world’s most vibrant tech eco-systems. This week we take a look at trendy Berlin!
From the “poor but sexy” tagline and a historically high rate of unemployment, Berlin has become a global tech centre. With one start-up founded every 20 minutes, Berlin has made a remarkable transition. In 2019, nearly 40% of all VC capital invested in Germany was going to Berlin firms (a record-breaking 3.4 billion euros that year). Which leading lights are shining the brightest? Read on to find out more about some of Berlin’s more recent unicorns.
This grocery delivery app launched at the perfect moment, March 2020. It’s perhaps not a surprise therefore that it became Germany’s fastest ever unicorn , reaching a $1billion valuation in just nine months. Gorillas state that deliveries can reach your doorstep in under 10 minutes and that produce is valued at retail prices. Delivery areas stretch across seven countries with more than 30 cities in their reach.
GetYourGuide is currently valued at $1.6 billion by SoftBank, who provided GetYourGuide with $500 million. The unicorn is an online booking platform for travel and leisure experiences offering a wide variety of products from tourist attraction tickets to cookery classes. Founded in 2009 in Zurich, the unicorn has been headquartered in Berlin since 2012 – where the founders decided to take advantage of the cheap office prices and vibrant start-up ecosystem.
N26 is one of the continent’s leading digital banks offering mobile banking to customers around the EU. Services include current accounts, fixed accounts, insurance and more. According to Crunchbase the website is visited approximately 4 million times per month and has around 250,000 monthly downloads. Like many of its neo-bank rivals, the fintech is now focusing on expanding to the US market.
This insurtech has recently been valued at $3 billion after a Series C funding round, up from a valuation of $1.65 billion in December 2019. The company claims that the raise of $650 million was probably the largest Series C funding round for an insurtech.The firm focuses on personal insurance products like household insurance, motor insurance and personal liability insurance.