Zenloop files for bankruptcy

Zenloop has reportedly went under despite last ditch efforts to stay afloat with additional debt financing.
Zenloop files for bankruptcy

German customer journey software startup Zenloop and its founding squad of ex-Flaconi (the online perfume outlet) pioneers tried their hardest to make the product stick. Sadly, and despite venture support at seed and series A stage, it wasn't to be and German media is reporting Zenloop will close up having already entered insolvency (source⁠ — Gründerszene.)

As the Berlin-HQed startup's suppliers wrestle over whatever is left, company lead Paul Schwarzenholz laid the blame on the final hour collapse of a crucial convertible loan deal.

According to Schwarzenholz, Zenloop was agonisingly close to survival having sought a €500,000 bridge loan. The CEO argued this would've been enough runway for Zenloop to become profitable, but, unfortunately, its equity structure was already heavily populated, and shareholders couldn't agree on a way forward.

Breaking the news to his colleagues, Schwarzenholz writes: "We were not able to get the required approval in the short time. Unfortunately, that can happen with a large group of more than 40 shareholders.”

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.