Smarthome retailer Tink raises 40 million euros in Series D

The start-up now has 700,000 customers. Rocket Internet and ProSiebenSat1, among others, have now joined the company.

The sales platform Tink has received 40 million euros in growth financing in the Series D financing round. The investment is led by Cadence Growth Capital. Rocket Internet and SevenVentures, the investment arm of media company ProSiebenSat1, are also involved.

Tink sells smart home products, advises customers and offers smart home services. According to its own statement, the Berlin-based start-up serves more than 700,000 customers and has annual growth rates of more than 100 percent.

Tink is planning growth in three areas: By 2023, Tink wants to be active in all European core markets and establish itself as a retailer across Europe. In addition, the service business is to be expanded; among other things, Tink also wants to offer energy contracts, insurance solutions and assistance services in the future. Thirdly, the start-up wants to offer more smart home products for new fields of activity. The company cites the kitchen, decentralized energy generation and e-mobility solutions as examples.

"With a turnover of 66 million euros in 2020, we have achieved our growth

growth targets faster than planned," says Julian Hueck, COO and co-founder of Tink. "With the size of the company, we can now finance ourselves from our operating business. With this risk profile and our current size, we have outgrown traditional venture capital financing."

Tink has also built up a B2B2C business in which the Tink platform is provided as a white label solution for third-party companies. In this segment, the start-up is working with energy provider Vattenfall and the Generali insurance group, for example. These industry partnerships are to be expanded. "We highly value Tink's second pillar and will use our network of over 100 industry experts to help bring the B2B2C business to new industries and countries," says Sebastian Eiseler, Co-Founder and Managing Partner at Cadence Growth Capital.