Project A invests in Carl - a fintech for M&A transactions

Berlin, June 12, 2019 - The Berlin startup Carl has completed a new financing round. The round is led by the Berlin VC Project A. The investor group also includes Family Office Bastian Unger (formerly ATU), Karl-Heinz Flöther, Saarbruecker 21 and founders of the startups Dubsmash, Contorion and Minodes. Carl has built a platform for M&A transactions that brings together midsize business owners and buyers.

"About 230,000 SMEs want to find a successor in the next two years. 95 percent of children do not want to take over their parents’ companies. Successors are therefore urgently sought. At Carl, we solve this problem through the digital approach and our broad network. The fresh capital will enable us to meet the steadily rising demand," said Kurosch D. Habibi, founder and managing director at Carl.

Professional advice and access to a broad network of buyers has so far mainly been available to large companies. Carl is now presenting this range of services to small and medium-sized companies with an annual turnover of between one and 50 million euros. With a digital platform that unites over 1,600 active buyers and provides access to more than 120,000 additional buyers, as well as a network of 220 M&A advisors in Germany, Austria and Switzerland, Carl would like to bring transparency and professionalism into the highly fragmented market.

"Currently M&A and succession processes for SMEs are very time-consuming and nevertheless often without success. The combination of our network of buyers and partners as well as comprehensive, proprietary technology throughout the process allows us to provide successful M&A processes in the SME segment," said founder and managing director Pascal Stichler.

For Project A, this is another commitment in a continuing series of B2B investments. "Succession is an enormous problem and there is hardly any feasible infrastructure in place to assist most of the retiring founders. Carl Finance is tackling the underserved market of small and micro-cap M&A advisory at scale with smart technologies, deep expertise and a very passionate team. We are excited to support Kurosch and Pascal on their mission to become the central platform for business succession in Europe." said Anton Waitz, General Partner at Project A.

About Carl
Carl (www.carlfinance.de) is a service provider for medium-sized company sales and successions. Carl actively supports entrepreneurs throughout the sales process, ensuring a professional sales process. This includes market-oriented business valuation, the creation of dedicated sales documents, access to a comprehensive network of thousands of prospective buyers and support during negotiations and company auditing. Alongside the processes, supportive technologies are used to increase efficiency. The company provides with www.Nachfolge.de Germany’s largest portal on company succession. Carl is primarily aimed at companies with annual sales of between one and 50 million euros. The company was founded in 2016 by Kurosch Habibi and Pascal Stichler and is based in Berlin.

About Project A
Project A is the operational VC that provides its ventures with capital, an extensive network and exclusive access to a wide range of operational expertise. The Berlin-based investor makes use of the €260m in assets under its management to back early-stage companies in the digital technology space. With its unique organizational structure featuring 100 operational experts, Project A offers its portfolio companies hands-on support in the areas of Software Engineering, Marketing, Design, Communications, Business Intelligence, Sales and Recruiting. The portfolio includes 50+ companies such as Catawiki, WorldRemit, uberall, Homeday, Spryker, KRY, and Wonderbly. For more

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