Awork raises two million euros

Half of the money comes from the founders themselves. The other half comes from pre-financing subscriptions.

The Hamburg start-up Awork raises two million euros. Around half of the money comes from the equity of the three founders Tobias Hagenau, Nils Czernig and Lucas Bauche. The other half comes from the Berlin fintech Re:cap. This company offers a financing option for companies with subscription models. Re:cap pays out the expected revenue from a portion of the subscriptions already taken out in advance and receives a financing fee in return.

According to Awork, it can expect around two million euros a year from the subscriptions, and Re:cap is now taking over some of these customer contracts. The company justifies this form of financing with the difficult market environment caused by inflation and the threat of recession. The new capital is to flow primarily into sales growth. The next step will also be to internationalize the business model. The target countries are Scandinavia and the Benelux countries.

Founded last year, the start-up is a software-as-a-service company that offers a work management platform for companies. Aworks Software started back in 2019 as part of HQLabs, the first company of the three founders. Around 25 people now work at Awork.