This 31-year-old’s start-up went from having $200 to being valued at over $6 billion in just 6 years. (via CNBCMakeIt)
In just six years software firm Personio has become one of Europe's most valuable start-ups, valued at $6.3 billion.Speaking to CNBC, Renner recalled how the business had just 200 euros left in the company bank account before it received its first real funding.Roman Schumacher, Arseniy Vershinin and Ignaz Forstmeier. The four met while studying at the Center for Digital Technology and Management, a joint institution from the two main colleges in Munich.
So the four set about creating a solution. As students, they didn't have an office, so worked wherever they could find space at college to build Personio's first software product. They scrambled together any savings they had to help with the costs. Then, in July 2016, Personio raised 2.1 million euros in a seed funding round, with investors including Global Founders Capital, which has backed the likes of LinkedIn andRenner said that before Personio could receive that first round of funding, the founders had to ensure they had paid any outstanding invoices, which he explained was a standard condition of fund-raising deals.
Personio's financial situation has changed dramatically since then. In it's latest series E round of funding, announced in October, Personio raised $270 million and was valued at $6.3 billion. That's quite a jump for the company, having been valued at $1.7 billion in January in its series D round of investment.
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