Germany-based moving services startup Movago closed a €7m ($7.4m) series A round today backed by Holtzbrinck Ventures, the venture capital firm spun out of publisher Georg von Holtzbrinck.
The round was led by venture capital and growth equity firm DN Capital, and also included Piton Capital and angel investors Philipp Magin, Ronny Lange, Christian Bertermann, Hakan Koc and Christopher Muhr.
Founded in August this year, Movago provides mobbing services as well as technology and business processes that can be used by local movers to increase efficiency.
The company, already present in Germany, Austria, France, the UK and Italy, will put the capital towards international expansion. It raised an undisclosed amount of seed funding from Holtzbrinck Ventures, Piton and various angel investors in September.