PRESS RELEASE

Lippstadt / Hamburg, 18 November 2020 – FinTech troy, that specialises in customer-friendly, digital debt collection, has successfully concluded its third round of financing. With Hannover Digital Investments GmbH, the venture capital company of insurance group HDI GROUP, the start-up has gained a partner from the insurance sector, which is an important sector for troy. Almost all existing investors have also increased their commitment, most notably eCAPITAL Entrepreneurial Partners AG, High-Tech Gründerfonds and Avala Capital, as well as business angels Tamaz Georgadze, Frank Freund and Michael Stephan (all three founders of Raisin) and others.

Philip Rürup, founder and CEO of troy, says: “We are very pleased to welcome our new investor HDI and we are delighted with the continued support of our existing investors. Although, according to the Federal Association of German Debt Collectors (BDIU), debt collection volumes are declining across Germany*, we have been growing at an average double-digit percentage rate per month since last year. This is particularly due to the fact that market leaders from the telecommunications, publishing and e-commerce sectors have chosen us as their collection partner. All in all, we are experiencing a strong increase in demand for our customer-preserving debt collection services, which is why we will continue to invest intensely to expand our market position as the friendliest debt collection company in Europe”.

Dr. Martin Weldi, Head of Corporate Development of the HDI Group, comments: “troy’s technology is a promising, innovative approach to digitalizing receivables management in a customer-oriented manner. This has convinced us to participate in the financing of troy. We look forward to future exchanges with troy, also with regard to possible cooperation within the HDI Group”.

Willi Mannheims, Managing Partner at eCAPITAL, comments: “Since we joined troy as an investor last year, the company has developed impressively. We are pleased that we have been able to further expand our commitment with this round of financing, as troy offers its clients clearly measurable advantages and is also excellently positioned for future growth thanks to its technological capabilities.”

Dr. Alex von Frankenberg, Managing Director of the HTGF, comments: “We have been investors in troy from the very beginning and we are enthusiastic about the passion with which the team is constantly bringing new innovations to this traditional business. As a public-private partnership between the BMWi and the KfW with the private sector, we are particularly pleased to be able to support the political will for improved consumer protection in debt collection with troy”.

Further information on the investors:

eCAPITAL entrepreneurial Partners AG

eCAPITAL is one of the leading venture capital investors in Germany and has been actively supporting innovative entrepreneurs in promising sectors since 1999. https://ecapital.de/

High-Tech Gründerfonds (HTGF)

The High-Tech Gründerfonds is a public-private partnership whose investors include the Federal Ministry of Economics and Energy (BMWi), KfW Capital, the Fraunhofer-Gesellschaft and 33 commercial enterprises. https://www.htgf.de/en/

Hannover Digital Investments

Hannover Digital Investments GmbH is an investor and partner for young, innovative companies specialising in digital solutions and services. Under the umbrella of the HDI Group, Hannover Digital Investments brings the financial strength and experience of one of the largest European insurance groups.

As a classic venture capital investor, Hannover Digital Investments GmbH provides financial resources to start-ups in the early stages. The focus is on financial investments from Seed to Series C.

As one of the largest European insurance groups, HDI has a tradition of around 120 years. Under the umbrella of the Talanx Group with premium income of EUR 39.5 billion (2019) and around 23,000 employees worldwide, the HDI Group operates in Germany and abroad in industrial insurance as well as in private and commercial insurance.

Avala Capital

Berlin’s leading superangel VC with currently 100 million assets under management has invested in more than 25 internet companies since 2012 and is, among others, the largest non-institutional investor in Delivery Hero and Weltsparen/Raisin. http://avalacapital.com

* Link to the study of the BDIU, Federal Association of German Debt Collectors: https://www.inkasso.de/presse/pressemitteilungen/covid-19-pandemie-bisher-kein-verschuldungstreiber-f%C3%BCr-privathaushalte

About troy

troy is a FinTech company that takes debt collection into the age of digital customer experience. To achieve this, troy combines decades of debt collection experience with technology and proven methods from marketing and CRM. Using machine learning, troy addresses chargeable customers according to their individual preferences; thanks to the cloud-based troy platform, customers can easily take care of payment, apply for individual solutions and get a real-time overview of the process at any time. Clients also gain a completely new level of transparency, allowing them to see in detail why the troy service receives top marks from chargeable customers. Since March 2020, troy has been offering more flexible solutions for clients affected by the Corona pandemic. troy’s services are aimed primarily at large companies and are currently available for Germany, Austria, Switzerland and the Netherlands. troy was founded in 2017 and has locations in Hamburg, Lippstadt and Lemmer, Netherlands. Its clients come from telecommunications, utilities, publishing and multi-channel retail.