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The financing comes at a time of significant growth for elopage, which has been profitable since 2018. elopage intends to use the fresh funding to grow its team from currently about 70 to 190 by end of 2021 while accelerating its strong momentum and expansion plans across Europe. The company is also committed to further investing in its platform, with the goal of helping at least one million entrepreneurs unlock their business' potential through elopage by 2025.
Rödl & Partner's specialized M&A-Team led by Partner Cyril Prengel advised Target Global on the financing round of the software company. One of the main focuses included a Financial Due Diligence on elopage.
Boosting the business of more than 40,000 digital entrepreneurs, creators, SMEs, and enterprise businesses, elopage is one of Europe's fastest-growing SaaS platforms and payment provider for a new generation of entrepreneurs. elopage was founded in 2015 by Özkan Akkilic and Tolga Önal with the mission of empowering and enabling digital entrepreneurs to launch and scale their online business by selling digital products, courses, memberships, and subscriptions. elopage provides the commerce and payment infrastructure for industry leaders including Hubert Burda Verlag, Sport1, falkemedia, Finanzfluss, and many more. Headquartered in Berlin, Germany, elopage is active across Europe with an over 70 people strong team and continues to scale rapidly. The company has raised $38m in funding to date and is backed by leading investors Target Global, Partech Ventures and Avid Ventures. Additionally, elopage joined forces with industry leader Canva to help digital businesses to individualize, monetize and commercialize their passion.
Target Global is an international investment firm headquartered in Berlin, with €1.5bn+ in capital commitments and co-investments. With offices in London, Tel Aviv, and Barcelona, the VC connects the key European startup ecosystems and leverages the unique DNA of each of its target geographies, across its global network. Target Global invests across multiple stages, investing in fast-growing tech companies. With its partners, it has been investing for more than 15 years in the digital technology space, backing some of the key European success stories. The Target Global portfolio includes companies such as Auto1, Delivery Hero, Docplanner, Rapyd, TravelPerk, wefox, and Zego.
Partech is a global investment firm with a portfolio of 200 companies spread across 30 countries in Europe, the US, Africa, and Asia. The Partech team brings capital, experience, strategic support, and networks to entrepreneurs at every stage of development: seed, venture, and growth.
Avid Ventures is a $72M NYC-based venture capital firm focused on early-stage investments into transformative fintech, consumer internet, and software companies in North America, Europe, and Israel. In addition to capital, the team provides hands-on support by acting as an "outsourced strategic CFO" to founders pre and post investment. Avid's portfolio includes companies such as Rapyd, Nova Credit, Alloy, Oyster, and more.
Cyril Prengel, Partner (Transactions Valuation Restructuring), Nuremberg, project lead – Financial
Alexander Hennevogel, Associate (Transactions Valuation Restructuring), Nuremberg – Financial
Cyril Prengel
Partner
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