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By Companisto

Cringle Reaches Maximum Funding Goal


When Berlin-based mobile payment start-up Cringle launched its equity-based crowdfunding campaign on Companisto on 28 June 2016, it planned to raise 800,000 euros in growth capital. Within as little as ?? days, the start-up had already reached the investment threshold.

During the campaign, the start-up provided the Companists with good news on a regular basis, thus convincing them. For instance, WeltN24, a wholly-owned subsidiary of Axel Springer and a major player, invested one million euros in Cringle. In addition to Cringle's existing partnership with the German DKB bank, the start-up's founders also acquired another important strategic partner in addition to many enthusiastic Companists.

We had the opportunity to interview Joschka Friedag, co-founder and CEO of Cringle, on the phone:


Hej Joschka! How does it feel to have completed your crowdfunding campaign after four months? (Cristin Liekfeldt)

"It's simply overwhelming! I think it's unbelievable how much money we have raised from so many people within such a short period. We would like to thank all of our investors very much!" (Joschka Friedag)


Did you expect to reach this milestone before the scheduled end of your campaign?

"I never doubted that! Yet, given that we were still lacking roughly 80,000 euros during the final week, it was a nice surprise!"


Did you put a lot of effort into your campaign toward the end?

"Definitely. We really wanted to reach our goal of 800,000 euros. Therefore, we used all marketing channels and gave a series of interviews to show every single person that we are working hard to make our business succeed."


What's next for you guys now? Will you throw a little party?

"That'll be the first thing we do! Whenever there's something to celebrate, we usually go to a bar near the office, Room 77, where you can even pay with Bitcoins. That's just perfect for FinTech nerds like us! :- ) Afterward, we will briefly enjoy the weekend, before we will start thinking about how to use the fresh capital in the best and most effective way possible on Monday. By then, we will be ready for and enthusiastic about the new week.


Enjoy the weekend then, and good luck for the future. Keep us posted! Congratulations on your successful campaign!


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