There are 32 billion-dollar startups in Germany. Who founded them, how their rise went and what else you need to know about the start-ups of the moment.

Unicorns don't only exist in storybooks, but also in the start-up world. In the scene, this is how they refer to companies that have reached a valuation of over one billion US dollars. There are currently 32 of them in Germany, and according to CB Insights, there are around 1,200 worldwide.

On average, it takes seven years for a German start-up to achieve Unicorn status. Nevertheless, there are also major exceptions: The two delivery services Gorillas and Flink and the e-commerce startups Razor Group and Sellerx already managed the billion-dollar valuation in the first twelve months after founding.

Most of the most highly valued German startups are active in the fintech, e-commerce and software sectors and are based in Berlin. The club of German Unicorns is also very male-dominated: Only one of the companies, Razor Group, has a woman co-founder.

However, the best year for German Unicorns was back in 2021, when 19 companies achieved Unicorn status. Also in 2022, six new Unicorns joined the list with Staffbase, Volocopter, Choco, Grover, Taxfix and DeepL.

These are the German startups with unicorn status:

Rank 1: Celonis

Last known valuation: $13 billion

Year founded: 2011

With a valuation of around $13 billion, Celonis is the only German Decacorn. Founded in 2011 by Alexander Rinke, Bastian Nominacher and Martin Klenk, the Munich-based startup offers process mining software. Based on existing data, companies can use it to analyze their processes and make them more efficient. In 2018, Celonis achieved Unicorn status for the first time.

Rank 2: N26

Last known valuation: $9.23 billion

Year founded: 2013

With a valuation of around $9.23, N26 is scraping the Decacorn border. The fintech from Maximilian Tayenthal and Valentin Stalf has grown rapidly since its founding in 2013. By its own account, Neobank now has more than eight million customers and is represented in 24 countries. Users can open a bank or business account with N26, take out loans or manage joint accounts. Last year, N26 closed a financing round worth $900 million. Nevertheless, not everything always went well at the Berlin-based neobank: at the end of September 2021, N26 had to pay 4.25 million euros to the German Federal Financial Supervisory Authority (Bafin) for failing to combat money laundering. The start-up also had to give up its US business.

Rank 3: Personio

Last known valuation: $8.5 billion

Year founded: 2014

Personio has developed a corporate HR platform that simplifies recruiting and HR data management. Founders Hanno Renner, Roman Schumacher, Arseniy Vershinin and Ignaz Forstmeier came together at the Center for Digital Technology & Management in Munich. They initially financed their start-up from their own sales. This was followed by several rounds of financing. The Series D financing round in January 2021 made Personio a unicorn. In the meantime, the valuation of the start-up is 8.5 billion US dollars.

Rank 4: Trade Republic

Last known valuation: 5.36 billion US dollars

Year founded: 2015

Also in fourth place among Germany's highest-valued startups is a fintech. Trade Republic aims to democratize access to financial markets. Users of the startup founded by Christian Hecker, Thomas Pischke and Marco Cancellieri can invest in shares, fractional shares, savings plans and cryptocurrencies via the platform. Since its founding in 2015, Trade Republic has expanded rapidly. It is soon to add the Baltic states, Slovakia and Slovenia, Portugal, Ireland, Finland, Greece, Belgium and Luxembourg(we reported).

Rank 5: Wefox

Last known valuation: $4.5 billion

Year founded: 2015

"Insurance. But simple." That's the slogan Wefox uses to advertise on its website. The start-up, ranked fifth on the list, offers motor vehicle, personal liability, household and homeowners insurance. Customers can get free advice. They can report damage via the portal. Julian Teicke, Fabian Wesemann and Dario Fazlic came up with the idea for the insurtech in 2015, valuing it at around $4.5 billion.

Rank 6: Flix

Last known valuation: $3 billion

Year founded: 2012

Fast from Berlin to Munich or from Cologne to Italy? Flix's long-distance bus and train services make it possible. The green Flixbuses have been traveling between cities since 2013, and in 2018 Flixtrain was added as a rail service. In total, Flix serves around 2,500 destinations in 38 countries. Last year, the start-up of Jochen Engert, André Schwämmlein and Daniel Krauss acquired the U.S. bus company Greyhound and now also offers trips in the United States. With a valuation of around three billion U.S. dollars, the Munich-based company makes it to seventh place in the ranking.

Rank 7: Contentful

Last known valuation: $3 billion

Year founded: 2014

The seventh-ranked German unicorn is Contentful, a Berlin-based startup founded in 2014 by Sascha Konietzke and Paolo Negri. Contentful has developed a platform that serves as an interface between websites, apps and devices. Enterprise customers can manage content with Contentful and play it out on various distribution channels. The startup reached its valuation of three billion euros after a Series F round in July 2021(we reported). Investors include Tiger Global, Tidemark and Base10's Advancement Initiative.

Rank 8: Gorillas

Last known valuation: $3.1 billion

Year founded: 2020

In 2020, Gorillas gained notoriety for delivering groceries within ten minutes. Kagan Sümer's startup has since said goodbye to the ten-minute promise, but not to the business model: customers order groceries via an app, an employee assembles the shopping cart in the warehouse, and a bike courier delivers them to customers' homes. Within a few months, investors pumped so much money into Gorillas that the startup reached unicorn status. The Series C funding round in September 2021 raised nearly $1 billion. Despite its success, Gorillas has come under repeated criticism: employees have repeatedly gone on strike over poor working conditions. Gorillas also tried unsuccessfully to prevent a company election. In recent weeks, rumors have surfaced that the company is on the verge of being taken over by its Turkish competitor Getir.

Rank 9: Nimble

Last known valuation: $2.7 billion

Year founded: 2020

Flink is hot on the heels of its competitor Gorillas. That's because the Berlin-based startup is also a fast food delivery service. Oliver Merkel, Christoph Cordes and Foodora founder Julian Dames are behind Flink. The company's valuation is currently 2.7 billion euros. Flink is also facing problems with the formation of a works council.

Rank 10: Forto

Last known valuation: $2.1 billion

Year founded: 2016

With a valuation of $2.1 billion, Forto is assured a place in the ranks of German unicorns. Ferry Heilemann, Fabian Heilemann, Erik Muttersbach and Michael Wax founded the logistics startup in 2016 under the name Freighthub. Forto's platform enables companies to digitize their logistics. They can compare different transport options such as sea, air or rail freight and book a transport. The platform can also be used to monitor shipments and manage invoices. Forto has locations in Europe and Asia. Investors include Softbank, Citi Ventures, G Squared and Northzone.

Rank 11: Tier

Last known valuation: $2 billion

Year founded: 2018

It is now impossible to imagine major German cities without e-scooters. A large number of them come from German mobility startup Tier. Via the app, users can rent both e-scooters and e-bikes on a short-term basis. So far, Tier has grown primarily through acquisitions: For example, the Berlin-based startup founded in 2018 by Lawrence Leuschner, Matthias Laug and Julian Blessin first bought The Makery, then Nextbike and Vento Mobility. Most recently, it added Spin and Fantasmo. Until recently, Coup's e-mopeds were also part of the offering. However, as the investment costs for these were too high, Tier scrapped them again. The company, which is valued at two billion US dollars, also had to lay off 180 employees in August.

Rank 12: Commercetools

Last known valuation: $1.9 billion

Year founded: 2006

Dirk Hoerig and Denis Werner founded Commercetools back in 2006. With the help of the start-up's platform, companies can build their own online store. Its customers include Porsche, BMW and BASF, for example. Shortly after the 150 million euro financing round that made Commercetools a unicorn, the company acquired the Münster-based start-up Frontastic.

Rank 13: Volocopter

Last known valuation: $1.87 billion

Year founded: 2013

Volocopter, based in Bruchsal, Baden-Württemberg, Germany, develops electric-powered and vertical take-off flying cabs and drones that can carry heavy loads. It all started in 2013 with a crowdfunding on Seedmatch: 750 investors invested a total of 1.2 million euros in the company. Since then, Alexander Zosel and Stephan Wolf's startup has been able to close several rounds of financing, most recently raising $182 million in a Series E round. Nevertheless, not everything is going smoothly for the unicorn either: last year, for example, the start-up canceled its Spac IPO. Volocopter also unilaterally terminated the subordinated loans of its crowdfunding investors. The latter are now threatening legal action against the company.

Rank 14: Mambu

Last known valuation: 1.7 billion euros

Year founded: 2010

At the start of 2021, Mambu announced the closing of a €110 million funding round. Meanwhile, the fintech's valuation rose to €1.7 billion. Mambu offers software designed to make it easier for companies to offer financial products and get them to customers quickly. Its customers include traditional banks as well as fintechs and neobanks. Eugene Danilkis and Frederik Pfisterer founded Mambu in 2010.

Rank 15: Solaris

Last known valuation: $1.65 billion

Year founded: 2015

Until recently, the 15th-ranked company was called Solarisbank. As it expanded internationally, the startup changed its legal form to a European public company and renamed itself Solaris. The startup's enterprise customers can use Solaris' banking license and infrastructure to build their own financial products. In July last year, the company, founded in 2015, cracked the billion-dollar valuation and acquired its competitor Contis. However, even the successful fintech suffered from growing pains: in January 2022, for example, the German Federal Financial Supervisory Authority sent a special auditor to Solaris due to compliance deficiencies, forcing Neobank to raise additional equity. Solaris' founders are Marko Wenthin and Andreas Bittner.

Rank 16: Scalable Capital

Last known valuation: 1.4 billion euros

Year founded: 2014

Scalable Capital also joined the club of German unicorns in 2021 with a valuation of €1.4 billion. Erik Podzuweit, Florian Prucker, Adam French and Stefan Mittnik founded the start-up in 2014 in Munich. Through Scalable Capital's Neobroker, investors can trade stocks, ETFs and cryptocurrencies, invest in savings plans or have their assets managed. The company now manages more than ten billion euros in assets and is active in Germany, the UK, France, Spain, Italy and Austria.

Rank 17: Choco

Last known valuation: 1.12 billion euros

Year established: 2018

Choco is a newcomer to the list of German Unicorns: as of this year, the Berlin-based startup is worth €1.12 billion. Choco has developed an app for the restaurant industry that connects restaurants and suppliers and digitizes order management, supply chains and communication. Daniel Khachab, Julian Hammer and Grégoire d'Ambrosell founded the company in 2018. Choco recently launched in the United Kingdom.

Rank 18: Getyourguide

Last known valuation: $1.1 billion

Year founded: 2009

In 2009, Getyourguide, founded by Tao Tao, Martin Sieber, Johannes Reck and Tobias Rein, digitized the classic travel guide: Users can search and book popular sights, museums, guided tours and day trips on the platform. The offering includes 150 different travel destinations. The company initially started in Zurich, but is now headquartered in Berlin.

Rank 19: Sennder

Last known valuation: $1.1 billion

Year founded: 2015

The second logistics startup to make it to Unicorn is Sennder. Famous logistics company Fiege is a strategic partner of the startup, and truck manufacturer Scania is also invested through its venture capital arm Scania Growth Capital. Sennder offers a platform where shippers can connect with freight forwarders. To do so, the company draws on a network of more than 40,000 trucks. To do this, Sennder has formed partnerships and acquired Uber Freight and Cars&Cargo. It is currently valued at $1.1 billion. Sennder was founded by David Nothacker, Julius Köhler and Nicolaus Schefenacker.

Rank 20: Enpal

Last known valuation: $1.1 billion

Year founded: 2017

Enpal by founders Mario Kohle, Viktor Wingert and Jochen Ziervogel launched in 2017. Four years later, the start-up rose to become a unicorn and is currently valued at USD 1.1 billion. Through Enpal, homeowners can rent a photovoltaic system on a subscription basis. The start-up's craft partners then install the solar modules on the roofs. Customers can also book an electricity storage unit, a wallbox for charging electric cars and a green electricity tariff. Enpal has been profitable since this year.

Rank 21: Staffbase

Last known valuation: $1.1 billion

Year founded: 2014

Staffbase joined 2022 as a new Unicorn: the employee communications platform received €106 million from General Atlantic and Insight Partners in March, reaching the $1 billion mark. Frank Wolf, Lutz Gerlach and Martin Böhringer founded Staffbase in Chemnitz, Saxony, in 2014. Since 2021, the startup has acquired Finnish company Valo, Berlin-based startup Teambay, Canadian competitor Banantag and software company Dirico.

Rank 22: Omio

Last known valuation: $1 billion

Year founded: 2013

Omio puts an end to manually comparing flights, bus and train rides: founder Naren Shaam's platform bundles all travel options in one place, allowing users to compare and book travel times. In 2013, the platform launched under the name Go Euro, followed by a name change in 2019. Omio has been cooperating with Uber since August.

Rank 23: Berlin Brands Group

Last known valuation: $1 billion

Year founded: 2005

One of the oldest startups in the Unicorn Club is Berlin Brands Group: since 2005, Peter Chaljawski's company has been helping new brands develop, produce and distribute products and buying out existing retailers. In September 2021, Bain Capital invested $700 million in Berlin Brands Group, helping the startup crack the one-billion mark.

Rank 24: Razor Group

Last known valuation: $1 billion

Year founded: 2020

Tushar Ahluwalia, Shrestha Chowdhury and Oliver Dlugosch founded Razor Group in 2020, after which the startup made a sprint to unicorn status, cracking the one-billion mark within a year. Razor Group buys up Amazon stores and continues to operate them more profitably, pursuing a similar concept to its competitor, Berlin Brands Group.

Rank 25: Chrono24

Last known valuation: $1 billion

Year founded: 2003

Chrono24 is a global marketplace for luxury watches. According to the company, 35,000 retailers sell their watches through the startup's platform. In 2003, Tim Stracke, Michael Krkoska and Dirk Schwartz founded the company, and since last year it has been considered a Unicorn. Chrono24 is apparently planning an IPO for the coming year.

Rank 26: Agile Robots

Last known valuation: $1 billion

Year founded: 2018

Also in September 2021, Agile Robots achieved Unicorn status. The startup is a spin-off of Chen Zhaopeng and Peter Meuse from the German Aerospace Center. Agile Robots develops robotic arms that can perform various tasks. Among others, they are used by smartphone manufacturer Foxconn.

Rank 27: Sellerx

Last known valuation: $1 billion

Year founded: 2020

Sellerx specializes in buying and building Amazon companies. So Malte Horeyseck and Philipp Triebel's company competes with Berliner Brands Group and Razor Group. Founded in 2021, the startup is valued at $1 billion, and investors include Blackrock, Sofina and Victory Park Capital.

Rank 28: Infarm

Last known valuation: $1 billion

Year founded: 2013

In 2013, Osnat Michaeli and Erez and Guy Galonska founded Infarm in Berlin. Since then, the startup has been growing salads, herbs and mushrooms in so-called "Growing Centers" for sale in supermarkets such as Aldi Süd, Edeka, Kaufland and Metro. Recently, the Unicorn has not been doing well: in the first quarter of 2022, sales slumped 3.6 percent compared to the fourth quarter of 2021. Infarm recently laid off half of its workforce.

Rank 29: Clark

Last known valuation: $1 billion

Year founded: 2015

Clark rose to unicorn status with its acquisition of Finanzen Group. Founded in Frankfurt in 2015 by Christopher Oster, Steffen Glomb, Marco Adelt and Chris Lodde, the insurtech offers an insurance manager that allows users to manage existing insurance policies and compare them with other policies. In March of this year, Clark established a holding structure, which could be an indication of an IPO in the future.

Rank 30: Grover

Last known valuation: $1 billion

Year founded: 2015

In April of this year, Grover closed a $330 million Series C funding round. This brought the startup, founded in 2015, to its billion-dollar valuation. Through Grover's platform, customers can rent game consoles, smartphones and laptops. After using them, they send the products back to the company. The aim of Michael Cassau's start-up is to reduce electrical waste.

Rank 31: Taxfix

Last known valuation: $1 billion

Year founded: 2016

Mathis Büchi and Lino Teuteberg have been helping people with their tax returns with their startup since 2016. Investors include Teacher's Venture Growth, Index Ventures, Valar Ventures, Creandum and Redalpine. The last funding round in April 2022 made the start-up a unicorn.

Rank 32: DeepL

Last known valuation: $1 billion

Year founded: 2009

DeepL is the latest addition to the unicorn club - at least according to information from the Kölner Stadtanzeiger. Founder Jaroslaw Kutylowski has not confirmed the information publicly, but is generally not very present in the media. The translator developed by DeepL is considered one of the best on the market. In tests, the translator performs significantly better than competitor Google. The start-up built on its predecessor Linguee in 2009.

Hint: We forgot a unicorn? Feeling left out? Write to us at redaktion@startbase.com and we'll be happy to fill you in.