Move24 Group Closes EUR 13 Million Series B Financing Round

BERLIN, October 24, 2016 /PRNewswire/ --

• innogy SE invests for the first time, existing financial investors continue their investment 
• New capital enables one-stop relocation service provider Move24 to continue its growth trajectory  

Move24 Group, the relocation service provider ("Move24"), has closed its Series B financing round, raising EUR 13 million in total. innogy SE has joined the group of investors in the German start-up and leads the financing round with existing investors Holtzbrinck Ventures, DN Capital, Piton Capital and Cherry Ventures.

With this latest financing, Berlin-based Move24 will strengthen its position as a leading full-service provider in the relocation sector. The new capital will be used to expand its position as market leader in Central and Western Europe, and broaden its range of services offered.

Move24 will invest in technology to simplify the relocation process and improve the customer experience, as well as developing an algorithm which optimises relocation routes. It will continue to focus on the ten European markets in which it is currently active.

Ante Krsanac, Co-CEO of Move24: "We are delighted at this show of confidence by our existing investors. Likewise, we proudly welcome innogy, which joins our circle of investors and will become an important new partner for operational cooperation."

Anton Rummel, Co-CEO of Move24: "Collaborating with innogy is an important step into the future. For the first time, Move24 will be able to offer the complete spectrum of relocation services which previously were time-consuming and tedious."

Matthias Engel, Managing Director of innogy Corporate Ventures GmbH: "With strong partners and a large potential for growth, Move24 is a promising start-up in the online sector. As such, this investment strengthens our portfolio."

The relocation service provider is driving future development to establish itself as a full-service provider for anyone who has to relocate. innogy supports the innovative Berlin-based company with the know-how and experience of an established European energy company.

About Move24 Group 

Move24 Group is a relocation service provider headquartered in Berlin and active in 10 European countries. Move24 provides all necessary relocation services: from planning and booking to the move itself and invoicing. The company cooperates with technologically and procedurally integrated local partner companies to facilitate the moving process. By bundling and intelligently combining relocation jobs, Move24 reduces empty trips and unused transport volume, thus reaping the benefits of efficiency and generating economic advantages both for consumers and its local partners.

Move24 is managed by Ante Krsanac and Anton Rummel as Co-CEOs. The company has received significant financing from Philipp Magin, Ronny Lange and Sebastian Moser (founders of Quandoo) as well as financial investors Holtzbrinck Ventures, DN Capital, Cherry Ventures and Piton Capital. In October 2016, innogy SE joined the group of investors and further functions as an operational partner.

For further information, please visit http://www.move24.de.

About innogy SE 

Innogy SE is an established European energy company. With its three business segments Networks & Infrastructure, Sales and Renewable Energies, it addresses the requirements of a modern, de-carbonized, decentralized and digital energy world. The focus of innogy's activities is to offer existing and potential customers innovative and sustainable products and services, allowing them to use energy more efficiently and increasing their quality of life. The company's major markets are Germany, Great Britain, the Netherlands and Belgium as well as selected countries in Central Eastern and Southeastern Europe, particularly the Czech Republic, Hungary and Poland. In the field of electricity generation from renewable energies, the company is also active outside these regions, e.g. in Spain and Italy. innogy is a subsidiary of RWE AG and began operations on April 1, 2016. The brand name innogy is a symbiosis of the terms innovation, energy and technology.

For further information, please visit http://www.innogy.com.

Press Contact Move24
Isabell Wendling
http://www.move24.com/de-de/press
[e-mail]
Telephone: [phone]
Move24 Group GmbH
Chausseestr.86, 10115 Berlin, Germany