About U-Start
U-Start is a venture capital firm founded in 2012. It is primarily based out of Lugano, Switzerland. As of Sep 2019, U-Start has invested in 42 companies. It primarily invests in Series A round in Germany based startups. Its investments are spread across a wide range of sectors from Consumer to Retail and Enterprise Applications. Most recently it participated in the $***** Series B round of Freeda Overall, U-Start portfolio has seen 2 unicorns, 1 IPO and 6 acquisitions including key companies like Deliveroo, Wallapop and SumUp. A lot of funds co-invest with U-Start, with names like Angel Capital Management sharing a substantial percentage of its portfolio.Key Metrics
U-Start's List of Top Investments
U-Start has a portfolio of 42 companies, including 2 unicorns. Their most notable investments are in Horizn Studios and Airhelp.Their portfolio spans across United States, United Kingdom, Germany and 7 more locations. They have invested in Consumer, Retail, Enterprise Applications and 18 other sectors, across stages such as Series A, Seed and 2 more. Here is the list of top investments by U-Start:
1. Deliveroo
Operator of an online marketplace connecting consumers with local merchants. This platform facilitates the delivery of prepared meals, groceries, and retail products from various vendors to residential and commercial addresses. Logistics technology coordinates the movement of goods between suppliers and recipients. The service manages the fulfillment process to ensure items are transported from the point of sale to the final destination.
Key facts about Deliveroo
- Founded Year: 2013
- Location: London (United Kingdom)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $2.95B
- Employee Count: 10,776 as on May 31, 2026
- Investors: Colt Ventures, Fidelity Investments and 130 Others
- Latest Funding Round: Post IPO, Jun 15, 2021, $*****
- Highlight: Acquired
2. Wallapop
App-based marketplace and a classified platform to buy and sell used items. Users can discover items on sale in their neighborhood at the top of the search list. Wallapop's products include anything from bicycles and mobile phones to clothing and furniture. The company offers mobile applications for Android and IOS devices.
Key facts about Wallapop
3. SumUp
Provider of card payment terminals and point of sale systems. These hardware and software tools facilitate transaction processing for merchants. The offerings include mobile card readers, self-service kiosks, and digital invoicing capabilities. Merchants utilize these tools to accept contactless payments and manage financial records. The system integrates with mobile applications to support business operations and order processing.
Key facts about SumUp
- Founded Year: 2012
- Location: Wilmington (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $997M
- Employee Count: 4,196 as on May 31, 2026
- Investors: Deutsche Bank, G Squared and 50 Others
- Latest Funding Round: Conventional Debt, May 19, 2025, $*****
- Highlight: Editors' Pick
4. Dott
Operator of shared electric scooters and bicycles for urban transit. The vehicles are available for short term rental to facilitate movement within metropolitan areas. The service provides access to motorized personal transport options through a digital interface. Maintenance and fleet management are handled internally to support vehicle availability.
Key facts about Dott
- Founded Year: 2018
- Location: Amsterdam (Netherlands)
- Stage: Series B
- Total Funding till date: $212M
- Employee Count: 626 as on May 31, 2026
- Investors: Naspers, EQT and 21 Others
- Latest Funding Round: Conventional Debt, Jan 31, 2022, $*****
- Highlight: Editors' Pick
5. FabFitfun
Online retailer offering subscription-based multi-category products. The product catalog includes fashion accessories, clothing, crockery, candles, cosmetics, etc. The user has to enter information and preferences and the company delivers the package four times a year.
Key facts about FabFitfun
- Founded Year: 2010
- Location: Beverly Hills (United States)
- Stage: Series A
- Total Funding till date: $94.6M
- Employee Count: 499 as on May 31, 2026
- Investors: SIZE, Founders Circle Capital and 28 Others
- Latest Funding Round: Series A, Oct 31, 2019, $*****
- Highlight: Editors' Pick
U-Start's Year-on-Year Investment Trends
U-Start has invested in 42 companies over the last 11 years, with an average of 2 new investments annually in the last 10 years. Its most recent first time investment was in Keatz and most recent follow-on round was in Freeda.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 0 | 0 | 0 |
2022 | 0 | 0 | 0 |
2021 | 0 | 0 | 0 |
2020 | 0 | 0 | 0 |
2019 | 1 | 2 | 3 |
2018 | 6 | 1 | 7 |
2017 | 4 | 0 | 4 |
U-Start's Investments by Stage
U-Start has made 10 investments in Series A stage with an average round size of $14.1M, 3 investments in Seed stage with an average round size of $2.55M, 2 investments in Series B stage with an average round size of $16.6M and 2 investments in Series D stage with an average round size of $10.5M.Stage of entry | No. of Investments |
|---|---|
Series A | 10 |
Seed | 3 |
Series B | 2 |
Series D | 2 |
Note: We have considered here, only first round of investments
U-Start's Investments by Sector
U-Start has a diverse portfolio, with companies operating in the Consumer, Retail, Enterprise Applications, Travel and Hospitality Tech and FinTech. Notably, it has invested in 37 Tech companies, 28 Consumer (B2C) companies, 16 Enterprise (B2B) companies and at least 9 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 10 |
Retail | 6 |
Enterprise Applications | 5 |
Travel and Hospitality Tech | 5 |
FinTech | 4 |
Others | 16 |
Note: We have considered here, only first round of investments
U-Start's Investments by Geography
U-Start has made most investments in Germany (5), followed by United States where it has made 5 investments.Country | No. of Investments |
|---|---|
Germany | 5 |
United States | 5 |
United Kingdom | 4 |
Italy | 2 |
Netherlands | 1 |
Note: We have considered here, only first round of investments
U-Start's recent investments
U-Start has not made any investment in 2026 so far.Here are the most recent investments by U-Start:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 09, 2019 | Italy | Series B | 8871 | [+2] | |
Jul 04, 2019 | Netherlands | Series A | 8813 | [+5] | |
Mar 22, 2019 | Germany | Series A | 8498 | [+4] | |
Dec 14, 2018 | Netherlands | Series A | 4788 | [+5] | |
Nov 12, 2018 | United Kingdom | Series D | 7170 | [+3] |
Unicorns in U-Start's Portfolio
U-Start has 2 unicorns in its portfolio - Satispay and SumUp. The most recent unicorn in their portfolio is Satispay. It became a unicorn in 2022, 3 years before U-Start first invested in it.Here is a list of unicorns in U-Start's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
74 | Provider of payment application and digital solutions for business and welfare | 2013 | Milan | Series D | kjwvshg | ||
82 | Provider of card payment terminals and point of sale systems | 2012 | Wilmington | Series E | gspahhj |
IPOs and Publicly Listed companies in U-Start's Portfolio
1 of U-Start's portfolio company became public - Festicket.Here are U-Start's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
- | Nov 12, 2018 | Series D | 1199 |
Acquired companies in U-Start's Portfolio
6 companies from U-Start's portfolio have been acquired. The most recent acquisition was Wallapop in Aug 2025 by Naver for $*****.Here are U-Start's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 04, 2025 | - | - | 4339 | |
May 06, 2025 | - | - | 1505 | |
Mar 17, 2023 | - | - | 7667 | |
Sep 04, 2019 | Dec 14, 2015 | Series A | 9454 | |
Apr 02, 2019 | - | - | 7262 |
Co-investors of U-Start
Over the past 11 years, 205 investors have co-invested in U-Start's portfolio companies. This includes funds and angels.
- Invested before U-Start: HV Capital, Project A and 59 others have invested in rounds before U-Start. There are 2 companies where HV Capital has invested before U-Start and 2 companies where Project A has invested before U-Start.
- Top Co-investors of U-Start: 63 investors entered a company along with U-Start. These include investors like Angel Capital Management (2 companies).
- Invested after U-Start: A total of 81 investors have invested in U-Start's portfolio after their investments. Top Investors include Temasek (2 companies), Milano Investment Partners (2 companies) and SVB (2 companies).
Recent News related to U-Start
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Italian media brand Freeda raises $16m for UK expansionSilicon Republic•Sep 09, 2019•Freeda, Alven, Ustar Consortium, Endeavor and 7 others
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Naspers increases investment in European e-bike makerITWeb•Jul 05, 2019•Naspers, Dott, Axel Springer Digital Ventures, Felix Capital and 3 others
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Dott raises $34 million to build a sustainable scooter startupTechCrunch+•Jul 03, 2019•Dott, EQT Ventures, Naspers, Axel Springer Digital Ventures and 8 others
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Amsterdam-based e-bike startup just raised €20M funding to expand in EuropeSilicon Canals•Dec 14, 2018•Dott, EQT Ventures, Axel Springer, DN Capital and 4 others
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Festicket raises $10.5m from Beringea and InMotion VenturesAngel News•Nov 16, 2018•Festicket, Beringea, InMotion Ventures, Lepe Partners and 2 others
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UK-based Festicket has raised €9.3 million to revolutionise the live music experience for festival-goersEU-Startups•Nov 12, 2018•Festicket, Beringea, InMotion Ventures, Lepe Partners and 2 others
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Naadam Closes $16 Million Series ABusiness Wire•Jul 17, 2018•Naadam, Vanterra Capital, U-Start, Trail Post Ventures and 2 others
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Finless Foods Raises $3.5 Million for Cultured Bluefin TunaThe Spoon•Jun 20, 2018•Finless Foods, Draper, Break Off Capital, U-Start and 7 others
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Freeda raises $10 million for its new media brand for womenTechCrunch+•May 03, 2018•Freeda, Alven, U-Start, Henri Moissinac and 4 others
