Orrick advised Vitruvian Partners LLP on their investment in German credit comparison portal Smava GmbH. Smava will receive $65 million in this Series D financing round from investors led by Vitruvian as well as existing investors. Including this latest round, the Berlin-based company has received $135 million in investments since its founding in 2007.
The investment follows a Series C financing round at the end of 2016, in which investors including U.S. venture capital investor Runa Capital and Norwegian private equity investor Verdane Capital joined existing investors such as Germany’s Earlybird Venture Capital.
Vitruvian Partners LLP is a leading European investment firm with offices in London, Munich, Stockholm and Luxembourg. It focuses on buyouts and growth capital investment in industries such as financial services, life sciences, technology and communications.
Smava is one of Germany’s largest fintech companies. It offers consumers a selection of approximately 70 loans from 25 banks and other private lenders. Consumers can choose the cheapest loan and lock it down right away. Smava has brokered installment loans totaling more than $3 billion, of which about $1.5 billion was in 2017.
Vitruvian was advised by an international Orrick team led by the M&A and Private Equity partners Thomas Schmid (Picture) and Ylan Steiner (London), the latter of whom has previously advised Vitruvian. They were supported by partners Jacqui Hatfield (Financial Regulatory, London), Timo Holzborn (Finance, Munich), Christian Schröder (IP/IT, Düsseldorf), Stefan Schultes-Schnitzlein (Tax, Düsseldorf), Till Steinvorth (Antitrust, Düsseldorf), André Zimmermann (Employment, Düsseldorf) and Harry Clark (International Trade & Compliance, Washington, D.C.); special legal consultant Daniel Weiner (IP/IT, Washington, D.C.); and associates Saira Henry (Antitrust, London), Verena Schwarz (M&A and Private Equity, Munich), Janine Suttie (IP/IT, London), Amelie von Alten (IP/IT & Data Privacy, Düsseldorf), Charles Baker (IP/IT & Data Privacy, London), Karl Ehrenberg (M&A and Private Equity, Munich), Michael Gale (Corporate, London) and Markus Piontek (Tax, Düsseldorf).
Involved fees earner: Thomas Schmid – Orrick; Ylan Steiner – Orrick; Verena Schwarz – Orrick; Karl Ehrenberg – Orrick; Michael Gale – Orrick; Jacqui Hatfield – Orrick; Timo Holzborn – Orrick; Christian Schröder – Orrick; Daniel Weiner – Orrick; Janine Suttie – Orrick; Charles Baker – Orrick; Stefan Schultes-Schnitzlein – Orrick; Markus Piontek – Orrick; Till Steinvorth – Orrick; Harry Clark – Orrick; Saira Henry – Orrick; André Zimmermann – Orrick;
Law Firms: Orrick;
Clients: Vitruvian Partners;