READO closes seed round for 1.0 million euros

The Frankfurt-based start-up READO has successfully implemented another capital measure and raised EUR 1.0 million. This brings the total amount of financing since the company was founded to EUR 1.9 million, of which EUR 1.6 million is equity and EUR 300,000 is public funding.

Experienced investors get actively involved

Two experienced investors are new on board:

• Jochen Friedrich (former Managing Director Capital Markets at J.P. Morgan, among others)
• Mark Lippert

Both have not only invested, but also structured and closely supported the financing via their consulting company INNOFINCENTA GmbH.

Special thanks also go to Jürgen ten Elsen and BMH Beteiligungs-Management Hessen for their trust and cooperative partnership.

Legal support for the round was provided by Philipp Weber, M&A and venture capital lawyer, who has received awards from Handelsblatt and JUVE, among others.

Further investors and strong support from the ecosystem

The new investors also include

• Tobias Michael
• Thomas Marbella
• Daniel J. Zimmer

Winning the FS Demo Day at the Frankfurt School of Finance & Management provided an important impetus for the start of the financing round. Special thanks go to Ram Shoham, Gowtham Athem and Nils Stieglitz for their support.

Last but not least, founder Jonathan Mondorf would like to thank his co-founders Michael Pomogajko and Andreas Weiser - without whom READO's growth would not have been possible.

Now that the seed round has been completed, the next growth phase is about to begin.