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PAKCon 2019 - Opening & How to make your company more diverse

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Testimonial: Trade Republic Christian Hecker

Partnering with the next generation of tech pioneers.

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Testimonial: sennder David Nothacker

sennder is an incredible success story: The company became Europe’s leading digital freight forwarder in only a couple of years. Rising to the status of unicorn in 2021, we continue to support sennder, having invested early on at seed stage.

Trade Republic is Europe’s mobile-first commission free broker. Its mission is to democratize access to capital markets and close the European pension gap. After raising one of the largest funding rounds in Europe, Trade Republic now ranks among the highest valued FinTechs.

Testimonial: KRY Johannes Schildt

Kry has taken telemedicine to the next level enabling people across Europe to see a doctor without actually having to go to one. We first invested in Kry’s seed round. Since then Kry has become a European unicorn in the digital healthcare market.

Testimonial: Spryker Boris Lokschin

Founded in 2014, Spryker enables companies to build sophisticated transactional business models in unified commerce including B2B, B2C, and Enterprise Marketplaces. It is the most modern platform-as-a-service (PaaS) solution with headless & API-based architecture that is cloud and enterprise-ready. We have been part of their journey since their very beginning.

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## The round was led by Project A, alongside existing investors Northzone and Seedcamp
Mimo, short for Money In, Money Out, has secured $8.5 million by Project A to continue its mission of simplifying global payments, cash flow, and financial management for small and medium-sized businesses (SMBs) across Europe. With the new funding,  Mimo will accelerate product development, expand its team, and deepen its offering of automated financial tools, including its newly launched bookkeeping automation solution, Fetch.

In parallel, Mimo has also entered into a financing arrangement with Froda, unlocking over $125 million in adaptable working capital for UK SMBs, with plans to scale this initiative across Europe. This combined effort underscores Mimo’s commitment to solving one of the most persistent and structural challenges facing SMBs: the complexity of managing finances in an increasingly global digital economy.
> "The European SME market is vast and underserved. Mimo's $8.5 million equity funding round, combined with their strategic partnerships and innovative technology, positions them to capture a significant share of this market. We believe Mimo has the potential to become a category leader, transforming the way SMBs manage their finances and driving economic growth across Europe." 
> Malin Posern, Partner at Project A

## Why European SMBs Still Struggle to Manage Their Finances

SMEs drive nearly half of Europe’s GDP and employ millions, yet they remain underserved by outdated financial infrastructure. Managing payments, reconciling accounts, and accessing finance is still manual, fragmented, and inefficient.

Over the past decade, fintech innovation has transformed B2B payments (Adyen, Checkout.com), business banking (Qonto, Tide, Revolut), foreign exchange (Wise), lending (iwoca), and accounting (Pennylane). Yet these solutions operate in silos, forcing SMEs to stitch together multiple tools to manage their financial workflows. This results in duplicated efforts, delayed payments, incomplete financial visibility, and excessive administrative burden.

This fragmentation persists because financial workflows are deeply interconnected – spanning payments, accounting, finance, and compliance. While existing solutions address individual pain points, they rarely unify the system as a whole. The core challenge remains: simplifying financial operations while maintaining control over cash flow.

In an environment where late payments are endemic, this inefficiency is not just inconvenient – it is existential. Cash flow gaps caused by delayed invoices can prevent SMEs from covering costs, paying staff, and investing in growth.

## Streamlining SME Finance Through Integrated Automation and AI

Mimo is building the financial operating system that SMBs have long needed. By automating and integrating the full spectrum of B2B financial workflows – from invoice capture and payment execution to bookkeeping and financing – Mimo eliminates the need for businesses to toggle between disparate systems. The platform streamlines operations, reduces overhead, and, most critically, gives SMBs better control over their cash flow.

A key feature of the platform is Mimo Flex, an embedded credit line that smooths cash flow fluctuations without the friction of traditional loan applications. Meanwhile, automated approval flows and collaborative tools keep finance teams, accountants, and bookkeepers aligned and working efficiently.

Since its public launch in April 2024, Mimo has rapidly expanded its product suite. This includes Get Paid, an accounts receivable tool that accelerates revenue collection through automated reminders, digital statements, and flexible payment options, as well as Fetch, an AI-powered bookkeeping automation product. Fetch goes beyond traditional OCR-based solutions by retrieving and reconciling financial documents automatically, tackling the persistent challenge of incomplete or missing paperwork.

Reinforcing its vision of seamless financial management, Mimo has partnered with FreeAgent to offer a direct integration between the two platforms. This enables SMEs to batch-pay suppliers with a single click, defer payments for up to 60 days in any currency, and maintain real-time financial records through automatic reconciliation. By consolidating these essential workflows, the integration saves businesses time, enhances cash flow control, and simplifies collaboration across finance teams and external partners.
> "Cash flow isn't just a metric for SMBs; it's the lifeblood of their survival. The burden of late payments, coupled with the complexity of managing finances across multiple platforms, creates a critical vulnerability. We've seen the market struggle to provide a comprehensive answer. Mimo's mission is to bridge that gap, providing a seamless, automated experience that liberates SMBs from financial uncertainty." 
> Henrik Grim, CEO

## A Solution That’s Already Delivering Results
Mimo’s integrated approach has already gained traction with a growing and diverse customer base. High-growth businesses like Bold Bean (canned legumes), Wales Bonner (luxury apparel), and Surreal (protein breakfast products), as well as leading accounting firms including PM+M, Goodwille, and Green & Purple, have adopted Mimo to streamline their financial operations and reclaim time previously lost to manual processes.

With fresh funding and a growing customer base, Mimo is redefining SME financial management. By replacing complexity with automation, it is empowering businesses to focus on what truly matters: growth.


Mimo partners with Project A on its latest $8.5M Equity Round to Transform B2B Payments for European SMBs

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Mimo partners with Project A on its latest Equity Round

__Berlin, 12.06.2024.__ [Black Semiconductor](https://blacksemi.com/), a pioneer in next-generation chip technology, announces one of the largest funding for a deep tech company manufacturing chips in Europe to date. The company has secured EUR 228.7 million public funding over the next 7 years under the [IPCEI ME/CT program](https://ec.europa.eu/commission/presscorner/detail/en/IP_23_3087). Alongside the public funding, Black Semiconductor has secured an additional EUR 25.7 million in equity funding. The round was led by Porsche Ventures and Project A Ventures, with participation from leading venture capital firms, corporates, and industry leaders.

Black Semiconductor introduces a new generation of chip technology by leveraging graphene technology to create powerful chip networks with unparalleled performance, connecting thousands of chips to allow them to interact as if they were one.

"Europe needs to focus on achieving independence in key enabling technologies to ensure the continent's autonomy and economic stability amid geopolitical challenges and supply chain issues. Semiconductors have been a much-neglected industry. Black Semiconductor, with its great founding team, exceptional technological know-how and substantial funding, has the ability to bring back some of the much-needed technological sovereignty and become one of the key players in Europe", says __Uwe Horstmann__, GP at Project A.

Black Semiconductor secures €254.4 million in funding to launch new semiconductor technology in Europe 

Black Semi PAV Website

Black Semiconductor secures largest deeptech funding in Europe

__Berlin, 10.06.2024.__ [ARX Robotics ](https://www.arx-robotics.com/), a manufacturer of scalable robotic systems for mass deployment in both defence and commercial applications, announces that it has raised a 9M EUR seed funding round. NATO Innovation Fund is the lead investor, with participation of Project A and Discovery Ventures. 

ARX has become one of the pioneers in autonomous and modular robotic solutions that redefine cost-effective technology for Hashtag#defence and commercial use cases. The new funding will enable ARX to expand its team, scale production capabilities and help European armed forces future-proof for robotic warfare by overcoming the lack of mass in unmanned ground systems. 

__Uwe Horstmann__, GP at Project A: "We believed in ARX's potential early on, when we supported their ideation process in our Studio and subsequently led their pre-seed round. Autonomous robots will be a game changer in terms of increasing safety, efficiency and capabilities. The team has demonstrated a remarkable ability to address robust and modular ground robotics at scale in dual-use scenarios for both government and civil customers."

ARX raises €9m seed round to fill NATO's robotics gap


ARX PAV Website

ARX Seed Funding 

__Berlin, 04.06.2024.__ Financing and data insights company [re:cap](https://www.re-cap.com/) has raises a $14.6m Series A round led by Entrée Capital with participation by Project A and Felix Capital. re:cap provides alternative debt financing and software to tech and services businesses. They also introduced a decision-making platform for institutional investors, allowing them to turn data into insights for better financing decisions.

Project A first invested in re:cap's seed funding round in 2021. More information on the funding round and re:cap products can be found [here](https://www.re-cap.com/press/re-cap-series-a-releases-saas-platform-investors-businesses).


Fintech re:cap raises USD 14.6m Series A funding round

Recap website

Fintech re:cap raises Series A

__Berlin, 19.3.2024.__ Project A leads the 2.5m EUR seed investment for [enapi](https://www.enapi.com/), a transaction broker for the electric vehicle charging industry. As an infrastructure layer company, Enapi focuses on building the most secure, reliable, and scalable platform for stakeholder collaboration in the EV industry. Enapi exists to commoditize connectivity and, thus, fuel the green mobility revolution.

enapi raises seed funding to revolutionize EV charging interoperability

enapi PAV website

Transaction broker enapi raises seed funding to revolutionize EV charging interoperability

__Berlin, 14.3.2024.__ Project A leads the 3.75m EUR seed investment for [Mindfuel](https://www.mindfuel.ai/). Mindfuel has developed an all-in-one data product management software that empowers professionals to unlock the full business potential of their organization's data and AI efforts. The company’s AI-driven ‘Delight’ software is a powerhouse tool for data and AI professionals to manage, measure and monetize the success of data investments.

Read why we invested in Mindfuel [here](https://insights.project-a.com/unlocking-real-business-value-from-data-why-we-invested-in-mindfuel/).

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