Philipp Schröder has given a new top job: The previous CTO of a German scaleup is moving to the role of Vice President Development B2B at 1Komma5°. Lars Schüttemeyer is supposed to drive forward the digitalization of the craft businesses connected to 1Komma5°. Before that, he was at Schüttflix for several years. Schüttflix is Germany's first digital platform for bulk goods – and completed 45 million euro financing in August this year. The Gütersloh scaleup, which is leaving Schüttemeyer for 1Komma5° on January 1, 2024, has 14,000 customers and partners.
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1Komma5° is one of the few German startups that achieved unicorn status this year. In December 2023, Deutsche Bank, BNP Paribas and Landesbank Baden-Württemberg granted the energy startup a loan of almost 53 million euros. The total amount is expected to rise to up to 100 million euros. An IPO could be next. Philipp Schröder has repeatedly expressed similar intentions in the past. The speculation was recently fueled again by the taking out of the multi-million loan. Co-founder and CFO Micha Grüber described debt financing by banks as an “important building block on the way to the capital market”. The company is constantly acquiring new craft businesses and requires large amounts of capital to do so. If it were to cover its needs exclusively with equity capital, the unicorn would have to complete financing round after financing round – and further dilute its cap table. The IPO is not realistic for the startup founded in 2021 until 2025: in order to go public, a company must demonstrate at least three full financial years.
Source: https://www.businessinsider.de/gruenderszene/technologie/1komma5-organigramm-mit-schuettflix-cto/
