Nebenan.de, a Germany-based developer of a neighbourhood network, raised €16m in Series A funding.
The round was led by Hubert Burda Media’s BurdaPrincipal Investments, with participation from existing investor Lakestar, Deutsche Telemedien, NWZ and pd ventures.
The company will use the funds to expand its market position in Germany and France, and develop and operationalize its business model.
Co-founded by Christian Vollmann and Till Behnke,Nebenan.de is a social network for neighbors with over 800,000 users in more than 6,000 neighborhoods. The aim of the platform is to build functioning relationships between people from the surrounding area.
The company also operates the French neighbourhood network Mesvoisins.fr and plans to expand into other European countries.