Logistics start-up Fliit is apparently on the brink of extinction

A funding round was actually planned for this year, but now, according to a media report, the Berlin-based startup has appointed a preliminary insolvency administrator and is facing the end of its business.

Logistics startup Fliit is apparently on the verge of going out of business. According to information from German startups a provisional insolvency administrator has already been appointed for the Berlin-based company, and now the liquidation will follow. Founded in 2016 by Flavio Alari, Jan Hoberg and Nils Hempel, Fliit connects transport companies with producers in the food industry.

In 2019, Fliit still convinced well-known investors such as the shipping company Maersk and Alstin Capital, the investment firm of Carsten Maschmeyer and was able to collect ten million euros. At the time, the founders' plans were big. They wanted to hire new employees and expand into other countries.

Fliit's annual reports show that the company was doing worse and worse economically: while in 2018 the net loss was still 3.9 million euros, in 2019 - even before the Corona pandemic - it rose to 6.4 million euros. The annual report goes on to say that Fliit is "currently in promising talks" with investors for a financing round for spring 2021, but that the "continued existence of the company" also depends on this.

The company itself has not yet commented publicly on the information.