CMS advised Cadence Growth Capital (CGC) on the deal.
IoT commerce platform tink has successfully completed its Series D financing round, which raised EUR 40 million. The round of financing was led by Cadence Growth Capital (CGC). Other investors included Rocket Internet and the ProSiebenSat1 investment arm, SevenVentures. tink plans to use the financing to drive its international growth. The firm also intends to expand its range of services and products.
CGC is a growth PE fund with a focus on Germany, Austria and Switzerland. The fast-growing firm specialises in partnerships with high-calibre companies with strong organic and inorganic growth prospects. CGC invests capital on behalf of over 100 HNWIs from the M&A, PE, corporate and start-up communities, as well as selected institutional investors. In addition to tink, CGC also holds a stake in several other technology-driven growth companies, such as Sherpany, Everphone, Mitos, Moonfare and PlusDental.
Berlin-based tink was established in 2016 and focuses on the Internet of Things and especially the connected home. Alongside marketing the networked hardware, the company concentrates in particular on the associated services, such as consulting, installation, insurance and rental models. It claims that more than 700,000 customers use the firm’s platform.
CMS team included Dr Tobias Schneider (Picture), Lead Partner, Stuttgart, Corporate/Private Equity, Dr Florian Plagemann, Counsel (Co-Lead), Frankfurt/Main, Corporate/Venture Capital, Dr Boris Alles, Counsel, Frankfurt/Main, Andreas Reisner, Associate, Frankfurt/Main, both Labor, Employment & Pensions, Dr Dirk Smielick, Counsel, Cologne, Intellectual Property and Martin Kilgus, Senior Associate, Hamburg, TMC.
Involved fees earner: Boris Alles – CMS Hasche Sigle; Martin Kilgus – CMS Hasche Sigle; Florian Plagemann – CMS Hasche Sigle; Andreas Reisner – CMS Hasche Sigle; Tobias Schneider – CMS Hasche Sigle; Dirk Smielick – CMS Hasche Sigle;
Law Firms: CMS Hasche Sigle;
Clients: Cadence Growth Capital;