- Berlin-based VC and private equity fund to invest jointly in market leader for car parts
- Support for further development of in-house technology and data competencies
Berlin, March 8, 2016. Project A today announced their investment in kfzteile24, the online market leader for automobile parts and accessories in Germany. With their seven-figure investment, Project A joins the EQT Mid Market Fund, a part of the global private equity group EQT, which already acquired a majority share in kfzteile24 in Dezember 2015. Project A’s investment will be used to further develop the in-house technology and data competencies of kfzteile24.
“kfzteile24 has occupied the market very early and in an impressive way. We want to support the company in building up market-leading know-how in the field of digital infrastructure,” says Florian Heinemann, co-founder and Managing Director of Project A.
In the scope of the investment, Project A intends to support kfzteile24 operatively in the core areas of performance marketing / CRM, business intelligence, product management and IT. The goal is to further strengthen the market position of kfzteile24 as one of the leading online retailers for car parts in Germany.
“Project A’s investment in conjunction with an intensive operational co-operation will be a key factor regarding the strategic development of the company. Project A’s expertise is a significant value proposition on a conceptual as well as on a personal level,” according to Stephan Rahmede, CEO of kfzteile24.
The online shop started as an eBay power seller and grew to become the market leader for car parts and accessories in Germany. kfzteile24’s two co-founders, Matthias Kieper and Torsten Hainke, have years of experience in trading car parts. In addition to their online shop, they run three chain stores with attached workshops in Berlin. The company was founded in 2001 and recorded revenues of EUR 130 million in 2015. kfzteile24 has about 500 employees.