Sofatutor increases sales strongly

The Berlin-based start-up increased its turnover by 24% in 2019. The start-up wants to present even better figures in 2020. The coronavirus pandemic may have helped.

"Revolutionizing learning with videos," is how Sofatutor founder Stephan Bayer described his own vision to Startbase a few weeks ago. The revolution is apparently also paying off financially: In 2019, the Berlin-based start-up hired 19 employees and increased its turnover by 24% from 11.2 million euros to 13.9 million euros. According to the annual report, the bottom line was a loss of 1.4 million euros, which is less than in the previous year.

According to the company, the good result is partly due to the launch of the in-house app and the acquisition of several new customers. A total of 15 million euros had been invested in Sofatutor by the end of 2019.

The start-up is also expecting good figures for the past year. The prospects for the digital learning platform for pupils were particularly good due to coronavirus: access figures rose rapidly after the school closures and "further growth is expected for 2020", writes the company. The aim is to achieve "a positive result and thus a significant increase compared to 2019".