Movinga, an online removals startup in Germany, has raised $25 million (£16.9 million) from Index Ventures and a number of other investors in a Series B funding round.
The Berlin-based company, still less than a year old, is aiming to shake up the traditional relocation industry with its technology platform and a network of local logistics partners.
Movinga claims it can relocate people for up to 70% less than the average moving company. It does this by employing a strategy of harnessing excess capacities from professional partners, in addition to allocating its own fleet of moving vans, to keep prices low.
People moving house can get a quick off-the-cuff quote from Movinga by putting a limited amount of data into its website, including things like how many rooms a house has, how many people live at the property and where the person is moving to and from. Movinga does not require a full itinerary or to send somebody to visit a person’s home before hand.
The latest round, which brings funding in the company up to $31.82 million (£21.5 million), comes just four months after Movinga announced two other large funding rounds, suggesting the company could be on to something big.
Since launching in Germany last year, the company has expanded its service to Austria, Germany, France, Italy, Switzerland, and the UK.
Bastian Knutzen, Movinga’s founder and managing director, said: “We are delighted to be closing our Series B investment after launching only eleven months ago. We are particularly proud to welcome such a renowned investor as Index Ventures. Movinga is the first global moving company that is truly reinventing the industry.
“We will now be investing strongly in talent, technology and customer care.”
Timm Schipporeit, an investor at Index Ventures, which has also backed said: “We are hugely impressed by Movinga’s flawless execution and rapid internationalisation.
“We firmly believe in their vision to build Europe’s leading marketplace for removals, a huge category which had yet to be addressed. Bastian and the team offer customers a vastly enhanced and seamless experience when it comes to requesting a price, booking and conducting a move. Similarly, Movinga provides leading removal companies with a comprehensive end-to-end marketing, booking and planning platform, creating extraordinary efficiencies for all parties.”
Other Movinga investors include Earlybird Venture Capital, Heilemann Ventures, and Rocket Internet SE (the investment vehicle of the German company building firm Rocket Internet).
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