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Venture Capital
cherry.vc

Investments

169

Portfolio Exits

7

Funds

4

About Cherry Ventures

Cherry Ventures is the VC arm of Zalando/Quandoo founders' Filip Dames, Christian Meermann and Daniel Glasner.

Headquarters Location

Linienstr. 214

Berlin, 10119,

Germany

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Latest Cherry Ventures News

Swedish startup raises €4 million seed to become leading European customer and business identity platform

May 2, 2023

Swedish startup raises €4 million seed to become leading European customer and business identity platform Stockholm-based startup Bits Technology has secured €4 million in a seed round led by Unusual Ventures, and also backed by Fin Capital with its existing investors including Cherry Ventures and Alliance Ventures. Following this seed round, Bits Technology is in 2023 launching a suite of products for the European market, including a no-code solution and API offering. The platform enables customers to easily create dynamic onboarding flows that can be scaled seamlessly across multiple markets without worrying about local compliance regulations, nor integrating new service providers. Meanwhile, the platform will empower teams to create a tailored onboarding experience and a customer reporting solution for AML and user management. This solution equips teams with collaborative tools in a single view, enabling them to access actionable data, customise rules, assess risk, prevent fraud, and maintain compliance. “At Bits we build for a seamless user journey in the necessary KYC processes – which are fundamental in order for businesses to both convert and comply. By utilising Bits, customers can conveniently access all the necessary data for effectively managing and taking action on their customer and user onboarding. By using Bits’ platform, businesses of all sizes can create a single view over the necessary user information–irrespective of the number of data sources and service providers involved. Says Jonatan Klintberg, CEO & Co-founder at Bits Technology. From a market perspective, identity and AML services present a significant opportunity for growth and innovation driven by an increased complexity in financial regulations and digital technologies. According to the company, the compliance and risk management software market in Europe is expected to be worth $70bn by 2027 driven by factors such as increasing regulatory pressure, rising financial crimes, and the need for more sophisticated identity verification and monitoring solutions. “We are thrilled to partner with the team at Bits Technology as they tackle some of the biggest challenges in the identity and AML space. We see a large and rapidly growing market in this category, but winning requires world-class founders with deep expertise. We were impressed by the bold vision and innovative approach of the Bits founders and team, and this is what makes them a perfect fit for our portfolio. We’re excited to support their efforts to bring cutting-edge solutions to market.” says Lars Albright, General Partner at Unusual Ventures.

Cherry Ventures Investments

169 Investments

Cherry Ventures has made 169 investments. Their latest investment was in Bits Technology as part of their Seed VC on April 4, 2023.

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Cherry Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/27/2023

Seed VC

Bits Technology

$4.42M

No

2

3/28/2023

Seed VC - II

Atlas Metrics

$5.63M

Yes

1

3/17/2023

Seed VC

Deeploi

$3.19M

Yes

Cherry Ventures, and Undisclosed Angel Investors

7

3/15/2023

Seed VC - II

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$99M

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10

3/15/2023

Series C

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$99M

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10

Date

4/27/2023

3/28/2023

3/17/2023

3/15/2023

3/15/2023

Round

Seed VC

Seed VC - II

Seed VC

Seed VC - II

Series C

Company

Bits Technology

Atlas Metrics

Deeploi

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Amount

$4.42M

$5.63M

$3.19M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Cherry Ventures, and Undisclosed Angel Investors

Sources

2

1

7

10

10

Cherry Ventures Portfolio Exits

7 Portfolio Exits

Cherry Ventures has 7 portfolio exits. Their latest portfolio exit was Drover on December 17, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/17/2020

Acquired

$99M

9

11/1/2020

Acquired

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$99M

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10

12/3/2019

Acquired

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$99M

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10

3/27/2018

Acquired

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$99M

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0

3/27/2018

Asset Sale

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$99M

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10

Date

12/17/2020

11/1/2020

12/3/2019

3/27/2018

3/27/2018

Exit

Acquired

Acquired

Acquired

Acquired

Asset Sale

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

9

10

10

0

10

Cherry Ventures Fund History

4 Fund Histories

Cherry Ventures has 4 funds, including Cherry Ventures IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/20/2022

Cherry Ventures IV

$340M

1

6/19/2019

Cherry Ventures Fund III (US)

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$99M

10

5/11/2016

Cherry Ventures II

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$99M

10

Cherry Ventures I

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10

Closing Date

1/20/2022

6/19/2019

5/11/2016

Fund

Cherry Ventures IV

Cherry Ventures Fund III (US)

Cherry Ventures II

Cherry Ventures I

Fund Type

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Status

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Amount

$340M

$99M

$99M

Sources

1

10

10

10

Cherry Ventures Team

5 Team Members

Cherry Ventures has 5 team members, including current Founding Partner, David Schreder.

Name

Work History

Title

Status

David Schreder

Founding Partner

Current

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Name

David Schreder

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Work History

Title

Founding Partner

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Status

Current

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