Bird & Bird advised California-based venture capital company Rocketship.vc on its investment in Stocard, a German start-up company based in Mannheim. The company offers a free app that bundles the functions of different customer cards and can be used both online and at the checkout. The investment amount remains undisclosed but according to the founders of Stocard it amounts to ‘several millions’.
Rocketship.vc is a venture capital fund from Palo Alto, California, specialising in early stage investments. Their particular focus is on companies in the data science sector.
Stocard GmbH is a start-up founded in 2011 by three students of the Mannheim University, Germany, and is now operating in nearly 40 countries. Their ‘Mobile-Wallet-App’ is used by around 10 million people worldwide.
The Bird & Bird team was led by partner Stefan Munch and associate Michael Gassner.
This transaction is another good example of Bird & Bird’s continuing support of innovation and strong presence in the venture capital market internationally, especially where data and technology play a key role.