Berwin Leighton Paisner advises Northzone and Creandum on investment in Distribusion Technologies
International law firm Berwin Leighton Paisner (BLP) has advised Northzone and Creandum on a direct venture capital investment in Germany. The two Scandinavian investors co-lead the Series A funding round of over EUR 6m in Distribusion Technologies GmbH.
Distribusion Technologies provides a business to business distribution service for intercity bus and shuttle rides. The Berlin-based technology start-up particularly developed a software solution enabling commercial travel agencies to research bus connections of more than 60 bus operators in 25 countries, including booking, ticketing and payment.
Northzone and Creandum are leading Scandinavian venture capital investors, with offices in Europe and overseas, focusing on fast growing technology companies. Founded in 1996, Northzone has to date invested in some 120 tech-companies globally. Creandum has over the last decade invested in more than 50 companies. Both Northzone and Creandum are early investors in the successful music streaming service Spotify.
Tim He, Principal at Northzone, says: “Distribusion is revolutionising intercity bus travel. With its innovative technology and business model serving both bus operators and travel agents, the company is in a strong position to take on the fragmented intercity bus market globally.”
Creandum sees this investment with excitement too. Sabina Wizander, Investment Manager at Creandum, expects that “Distribusion is having a major positive impact on bus operators, resellers, and consumers”.
The work was led by Partner Dr. Albrecht von Breitenbuch with support from Senior Associate Dr. Katharina von Rosenstiel and Associate Henning Bigalke. It’s Berlin-based team had also previously advised Northzone on its recent venture investments in online shop Lesara, fintech platform Crosslend, and curated fashion portal Outfittery which are all Berlin based start-ups. For Creandum, the investment in Distribusion Technologies was the first investment in Germany for some years.