Givetastic secured its first funding round from one of Germany’s premier VCs APX and looks forward to the successful launch of the App in the German market. The strong team of co-founders convinced the investor of an innovative business model in a growing sustainability market, coupled with a diverse and experienced team.
“This funding makes it possible for us to not only launch our product in Germany but also to set out on an exciting journey to scale the product and prepare for international market launch. The team is very happy and looks forward to reaching new milestones.” – Vidya Munde-Müller (CEO & Co-Founder Givetastic)
The startup Givetastic allows companies to increase their Corporate Social Responsibility activity and reach sustainability goals, while simultaneously engaging their employees. Since November, the Givetastic App is available for download on Android devices with a launch on the App Store for iOS devices followed in January 2021. Companies can divide a defined donation amount among employees through the Givetastic App. Each employee receives a credit which they can donate to projects of their choice.
Here’s our short interview with Munde-Müller:
How did you get in touch with your VCs?
We were in touch with APX since they showed interest in us almost a year back. At that time someone from APX investment team got in touch with us. They liked the tech product we were working on but wanted to see more traction and also a strong CTO. As soon as we could prove both the points, we applied to them in October 2020. After initial discussions, they qualified us as a target for investment and we were very happy to get the pre-seed.
Why did the enable the pre-seed investment?
I think APX understands that sustainability is a hot topic and they want to establish themselves in this market. The decision making was quite fast because the market is growing and now is the time for investing!
What are the next steps, what are you doing with the money?
We have a working MVP already. Both the apps are on the stores. Right now we are focusing on Marketing and Sales activities and this is where we are using the pre-seed capital for. Also, we are developing the product further to suit many types of companies.