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Axel Springer Makes Seven-Digit Investment in Cringle

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Cringle Founders

 

The mobile payment provider, Cringle, is on the road to success. The app for financial transactions among friends launched its Companisto crowdfunding campaign on 28 June 2016 and you still have the opportunity to invest until 28 October 2016. So far, almost half a million euros has been invested in the start-up. This Monday, Cringle announced that it had finalized a media agreement with WeltN24 GmbH to the amount of one million euros.

WeltN24 is a 100% subsidiary of Axel Springer SE and pools the activities of the Welt group and the television station N24. Axel Springer SE will invest in the Berlin start-up in the context of a media-for-equity deal.

"For us, Axel Springer is the ideal partner to make a good product more popular and to establish it on the market," Cringle CEO Joschka Friedag says in the official press release.
Not only does Axel Springer provide Cringle with the opportunity to use its various media channels, but the company's marketing experts are also developing marketing concepts and strategies together with Cringle.

Thanks to this media agreement, Cringle now has the opportunity to significantly increase its popularity and thus promote further growth. Following the partnerships with DKB and Solaris Bank, Cringle has now won over a further renowned partner and will continue to write its success story. You have until 28 October 2016 to participate in the success of Cringle on Companisto. For more information on Cringle's current equity-based crowdfunding campaign, please click this link.

 



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