The #AskTheBoss series provides insights into different departments. This time, we talked to Christian Teichmann, CEO at BurdaPrincipal Investments (BPI), the growth capital arm of Hubert Burda Media.
Berlin-based pet health start-up, Felmo, has closed another major financing round just six months after their successful Series A – this time raising €15 million. Burda Principal Investments (BPI) led the financing round, which included existing investors HV Capital, Redalpine, and 468 Capital.
The new round of funding, which follows the Series A investment in January 2021, demonstrates that Felmo addresses a pressing need among pet owners through the combination of veterinary at-home appointments and the Felmo app.
Since its inception, the start-up has demonstrated stellar growth while maintaining excellent customer satisfaction despite the ongoing pandemic. Due to the popularity amongst its growing customer base, Felmo is well on its way to becoming a household name and the leading pet health brand in Europe.
The start-up has already launched its service offerings in multiple German cities and the fresh new capital will allow Felmo to rapidly expand to further cities and regions, both domestic and international. An expansion of the e-commerce offerings and a significant expansion of the team are planned.
With Burda Principal Investments (BPI), the team centered around the founders Philip Trockels and Lars Giere has managed to add an experienced growth fund to Felmo’s investor base. BPI belongs to one of the largest European media and technology houses and has already supported internationally successful digital platforms such as Vinted, Etsy, Skillshare, or Bloom&Wild.
"We are delighted to have BPI, another strong investor, on board who shares our strategic view of the market and will help us achieve our goals at an even faster pace. From the beginning, we have shared a common vision to make Felmo the leading animal health brand in Europe."
Philip Trockels and Lars Giere, founder-duo Felmo
"Felmo has been able to achieve impressive growth and great customer satisfaction since its inception. The market potential for pet health in Europe is huge, and we are excited to support Lars and Philip together with the other investors in the next growth phase and to drive the internationalization of Felmo."
Christian Teichmann, CEO of BurdaPrincipal Investments
Felmo was founded in late 2019 by Philip Trockels and Lars Giere and offers dog and cat owners veterinary care via at-home visits combined with the Felmo app as a digital health companion. With the Felmo app, pet owners can access medical records from past appointments at any time, contact veterinarians via chat, perform fully digital health checks with their pets, and book at-home appointments for the same prices as regular in-patient vet visits. Felmo improves the experience for all parties involved, as over 90% of treatments can be carried out at home, avoiding high-stress environments like overcrowded waiting rooms and veterinary practices. Veterinarians also benefit from predictable working hours, work-life balance, attractive salaries, and a flexible, self-determined work environment. Currently, Felmo is available in 10 cities. including Berlin, Bochum, Dortmund, Düsseldorf, Essen, Frankfurt, Cologne, Munich, Stuttgart, and Hanover.