Lingoda presents business figures for 2019

Good news from start-up Lingoda: the online language school's net loss fell by almost one million euros from 2018 to 2019.

The Berlin-based start-up Lingoda has published its annual report for 2019: the net loss for the year was 1.75 million euros, compared to 2.7 million euros in the previous year. The online language school is otherwise reticent when it comes to figures. Since its foundation, Lingoda has cost 11.3 million euros to set up. The balance sheet total for 2019 was 3.66 million euros, compared to less than one million euros in 2018.

The start-up was founded by brothers Fabian and Felix Wunderlich eight years ago, since when Lingoda has raised over 80 million US dollars. In April 2021, the Berlin-based company received 68 million US dollars in a financing round, led by venture capitalist Summit Partners. According to the company, Lingoda currently employs 150 people; the 2019 annual financial statements still state that the annual average was 63 employees.

According to Lingoda, it has benefited from the coronavirus pandemic, so the annual financial statements for 2020 could be even better for the company.