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Hamburg software start-up concludes financing round in the single-digit million range
Hamburg, 4 February, 2020 | The software start-up Nitrobox GmbH has concluded a financing round in the single-digit million euro range: The “NeueCapital Partners” fund from Silicon Valley and Porsche Ventures, the venture capital unit of the Stuttgart-based sports car manufacturer, took a stake in the Hamburg-based company. Nitrobox has developed a cloud platform which can be used for automatic monetization and billing of digital business models. The company intends to use the funds from the financing round primarily to further expand its market position in Germany and to prepare for its entry to the US market.
The platform of the software start-up Nitrobox enables international corporations to handle financial processes via a central solution and to control them flexibly– from modelling the business model to digital payments, billing, account receivables management and compliance. This enables customers to bring new digital products and services to market quickly, while reducing their process costs.
“With NeueCapital Partners and Porsche as strong partners, we want to accelerate the growth of Nitrobox. Our goal is to become a leading enabler of new business and monetization models,” says Henner Heistermann, Founder and CEO of Nitrobox. “With Porsche we see great opportunities to expand our market position in the mobility market. NeueCapital Partners from California supports our entry to the US market with a large network of partners and clients.”
Nitrobox serves the needs of companies from a variety of industries. In the field of mobility, Nitrobox is already working with several car manufacturers, including Porsche. The start-up supports the order-to-cash process of new business models: services such as car sharing, functions-on-demand, digital parking tickets or charging services can be fully automated via the Nitrobox platform.
“Together with Nitrobox we are developing the necessary financial architecture to offer various billing models for Porsche Connect and Smart Mobility services: from time and volume-based approaches to subscriptions,” says Stefan Zerweck, COO of Porsche Digital GmbH. “In addition to the platform’s flexible customizations and integration capabilities, we were particularly impressed by the Nitrobox team and its visionary approach.”
Christian Janson-Euterneck from NeueCapital Partners: “We invest exclusively in technology companies and support software start-ups seeking to enter the US market. In this respect Nitrobox fits perfectly into our company portfolio. The potential of Nitrobox is huge since every company worldwide hast to monetize and bill for their services. Therefore, we are looking forward to a successful and long-lasting partnership,” continues Janson-Euterneck.
About Porsche Ventures
Porsche Ventures seeks strategic investments in business models relating to customer experience, mobility and digital lifestyle, as well as in future technologies such as artificial intelligence, blockchain and virtual and augmented reality. Through its venture capital activities, the sports car manufacturer Porsche invests in new companies that are in the early and growth phases.
About NeueCapital Partners
NeueCapital is a Silicon Valley based venture capital investor focusing on emerging European and Israeli related software companies in the B2B space. The fund’s investment team of software specialists partners with early growth stage start-ups which have a strong and proven competitive edge in their domain, and plan to expand into the US market. NeueCapital aims to be the partner of choice for these companies in their Series A and B financing rounds.
About Nitrobox GmbH
Large companies – such as automotive manufacturers – develop new digital business models as part of their digital transformation. Every business model requires the development of highly complex financial processes such as the management of digital payments, international invoicing or the management of subscriptions and contracts. With Nitrobox, companies are able to monetize new and digital business models more quickly and easily than with traditional software systems, by providing a software-as-a-service platform for the creation, automation and API control of their financial processes in an integrated system. Business logic and processes can be easily adapted to meet individual requirements – for all business models, products or sales channels. This provides clients with more time to focus on their core business and enables them to be more flexible, to accelerate their invoicing processes and to reduce their costs.
For more information on Nitrobox GmbH go to www.nitrobox.com.
Pictures:
High-resolution photographic material of the Nitrobox management is available for download on our website: https://www.nitrobox.com/company/press-media/
Contact:
Thorsten Wittmaack
PR Manager
Mail: thorsten.wittmaack@nitrobox.com
Phone: +49 (0)40 / 605 906 – 314
Nitrobox GmbH
Hofweg 6
22085 Hamburg, Germany