Nebanan, a locally-focused social network for neighbourhoods, has raised €16 million in Series A funding led by BurdaPrincipal Investments with participation from Lakestar, Deutsche Telemedien, NWZ, and pd ventures.
The German startup is building a social network for neighbourhoods that connects people that are living near each other. It launched in July 2016 and is active in a number of German cities including Berlin, Hamburg, and Munich. It has amassed 800,000 users and 6,000 neighbourhoods to date. The new funds will be invested in growing the network’s user numbers.
“We are investing the fresh capital in expanding our leading market positions in Germany and France, in further European expansion and in the development and operationalization of our business model,” said cofounder Christian Vollmann.
Good Hood, the parent company behind Nebanan, also runs the Mesvoisins social network in France.