A British competitor takes over the moving startup Movinga. For the former Berlin start-up star, it is the third change of ownership in three years.
The Berlin relocation platform and former scene hope Movinga has a new owner. The startup, founded in 2015, will operate under the umbrella of the British competitor Shift, like its founder and CEO Jacob Corlett communicated via Linkedin. Corlett spoke of a “major milestone” for his company. “We are thus consolidating our position as the most important tech disruptor in the logistics and relocation market.” Like Movinga, Shift provides relocation and transport helpers who arrive with specially branded vehicles. Corlett did not comment on the purchase price. According to Gründerszene information, however, a mid-double-digit million amount flowed.
Third change of ownership in three years
For Movinga, this is the third change of ownership in three years. In 2020, the former Biontech financiers and pharmaceutical billionaires Andreas and Thomas Strüngmann took over the majority of the Berlin company. In February this year, Movinga was taken over by the Saudi family office Jasaarah Investment, the company confirmed when asked. In the process, a seven-figure amount of money is said to have flowed into the relocation startup.
Movinga boss Silvio Hinteregger explains the renewed sale a good two months later with better market access, which the start-up hopes for from the British competitor Shift. “After discussions that had been going on for a long time, we made the decision that the synergy effects of the two companies will prevail – the majority of the existing investors will remain on board,” he says. Hinteregger took over the management of Movinga in 2020, together with his brother Tobias.
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Movinga was once one of the really big Berlin startup hopes. Launched in 2015, Movinga – like its counterpart Movago (later Move24), launched almost at the same time – wanted to digitize the market for removals. At least 90 million euros flowed into the company founded by Bastian Knutzen and Chris Maslowski, including from the early Google investor Index. However, business soon collapsed. There were also court cases with the competition.
Movinga should continue to exist as a brand
Since 2020, Movinga has had a new management with Silvio and Tobias Hinteregger. The brothers laid off at least 50 employees. In addition, the business model was turned inside out, since then it no longer consists only of relocations, but also of insurance offers. The British new owner Shift wants to benefit from this in the future. Founded in 2017, the company is active in seven countries and claims to have more than 300 employees and “thousands” of service partners.
Movinga is to be continued as an independent brand even after the takeover. “If only because of the brand awareness in Germany, Austria, Switzerland, France and Sweden,” as Silvio Hinteregger announced.