20 Million financing for Stocard
The Mannheim startup Stocard with a new round of financing.
The Mannheim startup Stocard is Europe’s leading mobile wallet provider, with more than 25 million users, and is now launching a $ 20 million round of global financing.
At the beginning of June, the corks popped again in Mannheim’s C-HUB creative center: Stocard CEO and co-founder Björn Goß announced the completion of a $ 20 million round of financing. New investors are Macquarie Capital – in addition to the existing partners Shortcut, Alstin, the Silicon Valley-based fund Rocketship VC, HTGF – and the Mannheim fashion house Engelhorn.
Björn Goß: “The new funding, in combination with Macquarie’s experience in scaling companies, is perfect in our current phase of growth. Among other things, the new funds will be used to launch a mobile payment function, and to hire 40 new employees from various fields, including engineering, sales, operations, marketing and HR, as well as to expand into other markets.”
At the moment 25 million users are already using Stocard to store their loyalty cards, rebates and benefits in the app – without the need for any plastic cards. The company, which was founded in Mannheim in 2012, is one of the top 10 shopping apps in more than 15 countries – alongside Amazon or Ebay.
“The investment will enable us to further accelerate this expansion and intensify collaboration with our trading partners, to close the gap between mobile and over-the-counter shopping,” said David Handlos, co-founder and CEO.
To learn more about the Mannheim success story Stocard, click here for our Startup Mannheim interview