Awork raises two million euros

Half of the money comes from the founders themselves. The other half via advance financing of subscriptions.

The Hamburg-based start-up Awork raises two million euros. About half of the money comes from the equity of the three founders Tobias Hagenau, Nils Czernig and Lucas Bauche. The other half comes via the Berlin-based 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 its own information, Awork can expect to earn around two million euros a year from the subscriptions, and Re:cap is now taking over part of these customer contracts for the time being. The enterprise justifies this financing form with the difficult market surrounding field by inflation and threatening recession. The new capital is to flow primarily into sales growth. The next step will also be to internationalize the business model. Target countries are Scandinavia and the Benelux countries.

The start-up, founded last year, is a software-as-a-service company that offers a work management platform for companies. Aworks Software launched back in 2019 as part of HQLabs, the first company of the three founders. There are now about 25 people working at Awork.