Berlin-based Movinga, which bills itself as Germany's first online relocation company (more on that below), has recently raised a funding round from Global Founders Capital - the investment vehicle from the Rocket Internet crew - as reported by German media last week.
The investment round brings the total raised by the very early-stage startup to "8 figures", but Tech.eu has exclusively learned from sources that the last round totals €6 million and was closed just two weeks after Movinga completed a financing round with Earlybird, Heilemann Ventures and various business angels, including Project A's Florian Heinemann and Home24 founder Philipp Kreibohm.
That must mean the startup, which operates in Germany, Austria, Switzerland, France and the UK, is on to something. Oliver Samwer is quoted as saying that "Movinga has revolutionized the European moving market in only a few months," and the new investment from his Global Founders Capital firm is to help the company scale in Italy, Benelux and Scandinavia next.
So what gives? Movinga claims it relocates customers for up to 70 percent less than your average moving company. The startup employs a strategy of harnessing excess capacities from professional partners, in addition to allocating their own fleet of moving vans, to keep prices low.
Key to its business, which may be a disruptive force to traditional moving firms, is technology that enables Movinga to efficiently bundle resources, combined with an emphasis on great customer service (something the mostly offline moving companies have yet to nail down, as anyone with experience with relocation can attest).
Meanwhile, another startup (Movago) emerged out of Berlin recently, also armed with seed financing and an eerily similar concept, offering and even website copy. It's not easy to determine who is the copycat, but it's likely both of them. Ah, the joys (of excess) of the German startup scene.