Crowdfox raises five million euros from capital round

Only existing shareholders were involved. The company wants to use the money to expand further.

The Cologne-based start-up Crowdfox wants to continue to grow and has received over five million euros in a capital round. The capital increase has now been entered in the commercial register. Only existing investors were among the backers. The company did not disclose exactly which ones. In the past, for example, the listed office mail order company Takkt and the price comparison service Idealo have invested in Crowdfox.

The company intends to use the capital to drive forward its expansion. This will also be made possible by the fact that the company is working together with industry giants from the DAX. These include, for example, the Ludwigshafen-based chemical group BASF. "In addition to the consistent further development of our product, we are concentrating on expanding our customer portfolio with major global customers," explains Managing Director Dirk Schäfer.

Crowdfox is an AI purchasing and comparison platform for corporations and large companies. The company develops software solutions for purchasing optimization. The company explains that it would offer its customers increased process efficiency and greater transparency in terms of price, availability, delivery time and sustainability.