Porsche Ventures invests in digital automated payments software developer Nitrobox

The German software start-up Nitrobox GmbH has concluded a financing round in the single-digit million euro range. The “NeueCapital Partners” fund from Silicon Valley and Porsche Ventures, the venture capital unit of the Stuttgart-based sports car manufacturer, took a stake in the Hamburg-based company. In 2019 Nitrobox completed the APX accelerator program, a joint venture of Axel Springer and Porsche.

Nitrobox inhouse developed software meets the need for fast and flexible monetization of digital business models. Their software supports the order-to-cash process of new business models: services such as car sharing, functions-on-demand, digital parking tickets or charging services can be managed via the Nitrobox platform using fully automated processes.

The start-up serves the needs of companies from a variety of industries. In the field of mobility, Nitrobox is already working with several car manufacturers, including Porsche.

“Together with Nitrobox we are developing the necessary financial architecture to offer various billing models for Porsche Connect and Smart Mobility services: from time and volume-based approaches through to subscriptions,” says Stefan Zerweck, COO of Porsche Digital GmbH. “In addition to the platform’s flexible customisation and integration capabilities, we are very impressed by the Nitrobox team and its visionary approach.”

The company intends to use the funds from the financing round primarily to further expand its market position in Germany and to prepare for its entry to the US market. “With NeueCapital Partners and Porsche as strong partners we want to accelerate the growth of Nitrobox. Our goal is to become a leading enabler of new business and monetisation models,” says Henner Heistermann, Founder and CEO of Nitrobox. “With Porsche we see great opportunities to expand our market position in the mobility area. NeueCapital Partners from California supports our entry to the US market with a large network of partners and clients.”

Image over the headline.- Henner Heistermann (co-founder and CEO, Nitrobox) -izquierda- y Sven Grimminger (co-founder and CTO, Nitrobox). © Porsche. 

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