Frank­furt a.M. — Good­win advi­sed the legal tech company Right­Now GmbH on a Series A finan­cing of $10.5 million. Lead inves­tors are venture capi­ta­list VR Ventures and the family office of Schwarz­wäl­der Boten, which in turn was advi­sed by VC inves­tor Redstone.

VR Ventures also faci­li­ta­ted an invest­ment in the bond issued by Right­Now to purchase gover­n­­ment-guaran­­teed Covid19 travel vouchers.

Right­Now had alre­ady recei­ved $2.1 million in a pre-Series A finan­cing in a first closing that included parti­ci­pa­tion from the foun­ders of Triv­ago in 2019.

Foun­ded in 2017, Right­Now GmbH is conside­red one of the pioneers in the moder­niza­tion of consu­mer protec­tion. The start-up, which specia­li­zes in “consu­mer claims purcha­sing,” buys claims from consu­mers against airlines, tour opera­tors, hotels, insu­rance compa­nies and other compa­nies and asserts the claims at its own risk. Right­Now foun­ders Dr. Torben Antret­ter, Phil­lip Eischet and Dr. Bene­dikt M. Quarch were recently named to the “30 under 30” by Forbes magazine.

Advi­sor Right­Now GmbH: Good­win, Frank­furt a.M.

Gregor Klenk (Part­ner, Private Equity, Lead), Heiko Penn­dorf (Part­ner, Tax), Joana Pamu­kova (Asso­ciate, Private Equity)

About VR Ventures

Foun­ded in Febru­ary 2020, the venture capi­tal fund VR Ventures sees itself as an inno­va­tion driver in the finance and real estate indus­try. The fund’s invest­ment focus is on start­ups in FinTech and PropTech as well as adja­cent digi­tal busi­ness solu­ti­ons for small and medium-sized enter­pri­ses. Invests in the best teams and solu­ti­ons across Europe from the late seed stage.

VR Ventures is backed by the Berli­ner Volks­bank Ventures team, which has been mana­ging Berli­ner Volksbank’s startup invest­ments since 2015. The exis­ting part­ner­ship with Reds­tone Digi­tal will also conti­nue. Andreas Laule (Mana­ging Direc­tor, VR Ventures): “The idea of VR Ventures is to build on the expe­ri­ence of Berli­ner Volks­bank Ventures and provide parti­ci­pa­ting inves­tors with imme­diate access to stra­te­gi­cally rele­vant start­ups in addi­tion to an attrac­tive return.”

Timo Fleig (Mana­ging Direc­tor, VR Ventures): “We invest in indus­tries where we know our way around and where our inves­tors do busi­ness them­sel­ves. This market know­ledge not only helps us to select strong port­fo­lio compa­nies, rather we want to bring our expe­ri­ence and strong network to the colla­bo­ra­tion and seize the oppor­tu­ni­ties of digi­ta­liza­tion toge­ther with our port­fo­lio companies.”

For the Volks- und Raiff­ei­sen­ban­ken, VR Ventures is another leap into the future of banking. In addi­tion to Berli­ner Volks­bank, the follo­wing other Volks­banks and Raiff­ei­sen­banks are invol­ved in VR Ventures: Bank 1 Saar, Rhein­gauer Volks­bank, Verbund Volks­bank OWL, Volks­bank Biele­­feld-Güter­s­­loh, Volks­bank Kassel Göttin­gen, Volks­bank Rhein-Ruhr, VR-Bank Südpfalz and VR-Bank Würz­burg. In addi­tion, IDEAL Lebens­ver­si­che­rung, a company outside the Genos­sen­schaft­li­che Finanz­Gruppe, was won as an inves­tor. A total of ten inves­tors have inves­ted a total of around €40 million in the fund. Over the next twelve months, parti­ci­pa­tion in VR Ventures is open to addi­tio­nal insti­tu­tio­nal investors.