Norton Rose Fulbright advises MOBIKO on financing round with Baloise
Germany | Press release - Business | February 2022
Global law firm Norton Rose Fulbright has advised mobility budget startup MOBIKO GmbH on a funding round by Swiss insurance group Baloise Holding AG. Baloise is investing multimillion euros in MOBIKO (“mobility quota”). In addition to Baloise and existing investors Audi Business Innovation GmbH and mantro GmbH, the Weingarten-based startup Family Office is also participating in the financing round.
MOBIKO offers employers a monthly-flexible digital mobility budget for all employees. Each employee uses his or her budget individually and is rewarded for environmentally-friendly mobility behavior. MOBIKO was developed by Audi Business Innovation with Munich-based company mantro and spun off as an independent GmbH in 2018.
Audi Business Innovation GmbH (ABI) is a wholly-owned subsidiary of AUDI AG and focuses on the development and implementation of digital concepts and products. ABI provides reliable IT platforms for AUDI AG and the Volkswagen Group.
mantro GmbH supports medium-sized companies in the development of new digital business models. With more than 16 years of experience and 28 founded ventures, mantro has become a specialist for digitalization and company building.
Family Office provides young companies with venture capital and active support from experienced entrepreneurs in the SME sector. Founders receive holistic, effective and sustainable support in the development of innovative solutions for their organizations.
The Swiss insurance group Baloise employs approximately 7,700 people and is among the top 5 Swiss insurance company for private individuals and companies. Baloise was founded in 1863 and generates annual sales of approximately 9 billion Swiss francs. Its core markets are Switzerland, Germany, Belgium and Luxembourg.
Norton Rose Fulbright’s Munich team was led by partner Sebastian Frech (Corporate, M&A, Venture Capital) and also included partner Tim Schaper (Antitrust), associates Sebastian Eisenhut (Corporate, M&A, Venture Capital) and Marianne Milovanov (Corporate, M&A, Venture Capital), and research associate Dennis Hoetzl.
Audi was advised on the transaction by the law firm GLNS in Munich and Baloise by the Berlin law firm YPOG.