Majority of Letsact goes to Fonds Finanz and Versicherungsgruppe die Bayerische

The start-up is also known for its participation in the show Die Höhle der Löwen last September, but now the "Tinder for volunteering" has sold its majority stake to two shareholders. The founders retain 20 percent.

The Letsact app aims to make volunteering easy - now the broker pool Fonds Finanz and the insurance group die Bayerische have acquired a majority stake in the start-up behind it, Lets GmbH. The two companies each own 40 percent, with the founders Paul Bäumler and Ludwig Petersen retaining the remaining 20 percent. At the initiative of Fonds Finanz, the offering will be expanded to include a version for employers, in which employees can organize themselves together to get involved.

"Together with our new shareholders, we want to expand the business-to-business area of Lets GmbH in particular and firmly anchor the topic of corporate volunteering in the German corporate landscape," says Bäumler, who will continue to manage the company with his co-founder and set up an associated association on the side.

"Alongside traditional volunteering, the topic of corporate volunteering is currently experiencing a real triumph that will continue to gain momentum in the coming years. We are therefore all the more looking forward to continuing the platform's success story together with Fonds Finanz and letsact in the future," says Martin Gräfer, CEO of die Bayerische insurance group, about the collaboration.

Fonds Finanz became aware of letsact when the founders appeared on the Vox show Die Höhle der Löwen in September 2020 and "immediately recognized the potential of the idea," says Norbert Porazik from the broker pool. According to the start-up, it now has 100,000 users and works with 1,500 organizations.