Stout Advises PlusDental in Funding Round Led by Jebsen Capital
Stout announced that its client, PlusDental has successfully completed its EUR 35 million Series C extension funding round led by Jebsen Capital, the investment department of the Hong-Kong based family company Jebsen Group. Additionally, the World Cup football star Mario Götze has joined the founding round alongside the existing investors: HV Capital, Lakestar, Cadence Growth Capital, F4, Kreos Capital and the Chinese Ping An Global Voyager Fund. With the total investment amount of almost EUR 100 million, PlusDental is one of the top financed med-tech startups in Germany.
World Cup football star Mario Götze, who is backing the company in this round, stated: “You would be hard-pressed to find another German company that has been able to dominate the European market in such a short time. The incredible speed at which PlusDental has grown and their idea of both digitizing dental treatments and making them available to everyone at low cost immediately excited me.“
Based in Berlin, PlusDental is the largest digital dentistry company in Europe and has digitized the entire treatment process for mild to moderate tooth misalignments.
Around 200 practices in Germany, Austria, Switzerland, Great Britain, Spain, France, the Netherlands and Sweden already work with PlusDental, and the network will grow to over 500 partners by the end of the year. The company is not solely focusing on Europe, but will also expand to China this year. “Hardly any other country welcomes new technologies as much as China. With Ping An Global Voyager Fund and Jebsen Capital, we now have an absolute dream team in Asia by our side. With their support, we will give patients access to modern dentistry in this particularly exciting market," says PlusDental co-CEO Eva-Maria Meijnen.
More than 35,000 patients have already successfully carried out PlusDental treatment, and the company was recognized as the one with the highest level of patient trust among all of its competitors. The company now employs more than 400 people and for this year the company is already aiming for a turnover of well over EUR 100 million.
The financing will be used for the further expansion plans of the company. Meijnen adds: “We are well on the way to becoming Germany's first unicorn to be led by a woman. It will be ready by next year at the latest. We are grateful to Stout for their relentless fundraising support, which continues to help us successfully execute on PlusDental’s high growth trajectory."
“We are excited to continue backing the outstanding team at PlusDental on our third joint deal in less than a year,” added Mathis Wilke, Managing Director at Stout, who led the execution of the transaction. “With PlusDental now in striking distance to become a unicorn, it seems perfect to complete this fundraising hat-trick by also bringing on board World Cup football star Mario Götze.”
Stout Vice President Kevin Kissner assisted on the deal with further support from Stout’s Nansi Nistorova.
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