Majority of Letsact goes to Fonds Finanz and Versicherungsgruppe die Bayerische

Lisa Marie Münster Lisa Marie Münster | 08.06.2021

The start-up is also known for its participation in the show Die Höhle der Löwen (The Lion's Den) last September, but now the "Tinder for voluntary work" has given up its majority shares to two shareholders. 20 percent remain with the founders.

The app Letsact wants to make volunteering easy - now the broker pool Fonds Finanz and the insurance group die Bayerische have taken over the majority of the start-up behind it, Lets GmbH. Both companies own 40 percent each, the remaining 20 percent remain with the founders Paul Bäumler and Ludwig Petersen. On the initiative of Fonds Finanz, the offer will be expanded to include a version for employers, in which employees can organize 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 build up an associated association on the side.

"Alongside traditional volunteering, the topic of corporate volunteering is currently experiencing a real triumphant march, which will continue to gather pace in the coming years. All the more reason for us to look forward to continuing the platform's success story together with Fonds Finanz and letsact in the future," says Martin Gräfer, CEO of the insurance group die Bayerische, about the cooperation.

Fonds Finanz became aware of letsact when the founders were 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 organisations.


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Startup 2017 München Letsact Platform for volunteering and fundraising.

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