Gapless, a blockchain startup based in Germany has raised €5.5 million (appr. $6 million) from a new funding round led by FinLab EOS VC Fund, a joint venture between German investment company FinLab AG and EOSIO blockchain developer, Block.one.
Gapless Is Backed By Porsche
According to reports, other notable venture capital firms and investors that participated in the series include German automobile manufacturing giant Porsche AG and insurance entrepreneur Kersten Jodexnis alongside his Family Office LA ROCA Capital.
Since Gapless was founded in 2018 by Jan Karnath, Malte Häusler, and Andreas Joebges, Porsche has been a strategic partner and a significant financial backer of the startup.
Improving Its Blockchain Product
Gapless claims it is building the world’s first blockchain-based car management system and will use the new capital to further develop the product while expanding the blockchain architecture and the user base of the app.
With over 50,000 vehicles currently listed in the platform from the US, the UK, and Germany, the startup claims that users can use its app to record a complete history of vehicles.
Gapless allows car owners, collectors, and dealers to digitally manage their vehicles and access services by creating digital profiles of their automobiles, including documents, images, and smart calendars on the platform.
Speaking on the new milestone, Jan Karnath, CEO of Gapless, described FinLab EOS VC Fund as their partner of choice as they work hard to advance the startup.
“With the FinLab EOS VC Fund, in partnership with Block. One venture arm EOS VC, we have found our partner of choice for the further development of our young company. We are now taking the next step together to become the ‘platform for things you love,'” he said
FinLab EOS VC Fund is one of the largest blockchain and fintech venture capitals in Europe, and FinLab AG manages the venture capital. Stefan Schütze, Managing Director of the VC, also expressed his optimism with their new investment.
We are pleased to welcome Gapless as a new investment in our portfolio. Gapless shows how blockchain technology can change services from the ground up – and always thinks from the user’s perspective.