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# The Biggest German Tech Companies

**By:** Luis Minvielle

**Published:** May 2, 2024

Germany is home to some of Europe’s best-known tech companies, including many in the fintech space, where Germany is the #1 player in Europe and the [fourth largest](https://www.gtai.de/en/invest/industries/services/fintech-65682) in the world. Investors (including [government agencies](https://www.htgf.de/de/)) have spent [$72 billion](https://sifted.eu/pro/briefings/germany-2023) in funding over the last decade to support its startup ecosystem. It is now home to over 20,000 startups, including [30 unicorns](https://www.failory.com/startups/germany-unicorns) (the most in Europe after the UK).

Tech companies in Germany have been recently soaked by a wave of funding activity, with players such as [Qdrant](https://github.com/qdrant/qdrant) closing a [$28 million](https://techcrunch.com/2024/01/23/qdrant-open-source-vector-database/) investment round in 2023 and [Kittl](https://www.youtube.com/c/Kittldesign) securing [$36 million](https://www.kittl.com/article/kittl-series-b) this January. As these companies grow or receive funding, they'll likely seek skilled individuals to join their teams and scale up their products. This could potentially mean more jobs for software developers. In this article, we’re bringing up a list of the biggest and fastest-rising German software companies so that you can feel out the map and learn more about the star players.

## **🦄** The 10 biggest German tech companies

These are 10 leading tech companies based in Germany or from German founders. These are all well-financed businesses that are likely to offer good salaries and good career opportunities.

| Company | Location (HQ) | Valuation | Tech | Employees |
| --- | --- | --- | --- | --- |
| N26 | Berlin | $3 billion as of 2023 | Mobile-first banking | 1,500 |
| Zalando | Berlin | €6.2 billion as of April 2024 | Fashion e-commerce | 15,000 |
| Trade Republic | Berlin | €5.4 billion as of 2022 | Commission-free stock trading | 500 |
| Contentful | Berlin | $3 billion as of 2021 | Headless CMS for digital content | 800 |
| Sennder | Berlin | €2.1 billion as of December 2022 | Freight logistics optimisation | 1,000 |
| SumUp | London | €8.5 billion as of December 2023 | Payment processing solutions | 3,000 |
| Delivery Hero | Berlin | €12 billion as of April 2024 | Global food delivery tech | 50,000 |
| Taxfix | Berlin | $1 billion as of 2022 | Simplified tax filing app | 500 |
| Grover | Berlin | $1 billion as of 2022 | Electronics rental platform | 40 |
| Qdrant | Berlin | $113—170m as of 2024 | Data indexing and search | 42 |

‍

### N26

[N26](https://n26.com/en) is Europe's first 100% mobile and fully licenced bank, headquartered in Berlin. It became famous in mobile banking because people could sign up and verify their identity [using their phones](https://www.youtube.com/watch?v=H-gomrSqmu4). They also hosted their full core banking stack on the cloud. These were radical ideas until recently. It monetises with premium accounts and lending services in over 15 European countries. In 2022, it reached 8 million customers and launched [N26 Crypto](https://n26.com/en-eu/crypto). In 2023, it made $328 million in revenue, up 27% from the previous year. Yet, after Allianz X sold its [5% stake](https://www.financemagnates.com/fintech/allianz-sells-n26-stake-neobank-valuation-drops-by-6-billion-in-two-years/) at a significant discount, N26’s value dropped from $9 billion in 2021 to $3 billion in 2023. Recently, it expanded its services by launching [joint accounts](https://ffnews.com/newsarticle/fintech/n26-launches-joint-accounts-in-21-new-markets-to-enable-customers-to-manage-finances-as-a-couple/) and [stock and ETF trading](https://n26.com/en-eu/press/press-release/n26-further-strengthens-offer-in-germany-with-launch-of-stocks-and-etfs-trading-and-4pct-interest-on-savings-for-metal-customers) in multiple markets. With a diverse team of over 1,500 people from 80 countries, N26 cut [71 jobs](https://www.fintechfutures.com/2023/05/german-challenger-n26-to-cut-71-jobs-around-4-of-total-workforce/) last year—around 4% of its workforce—to focus on its “strategic priorities,” as they enigmatically [stated](https://n26.com/en-eu/press/press-release/statement-on-n26-headcount-reductions).

### Zalando

[Zalando](https://en.zalando.de/?_rfl=de) is an online fashion and lifestyle e-tailer based in Berlin. It also helps other businesses with their e-commerce operations. With 15,000 employees from 140 different countries, Zalando stands for inclusivity, ranking [35](https://www.forbes.com/companies/zalando/?list=top-companies-women&sh=4413bfbdbc05) on Forbes' 2023 list of the top companies for women. In 2023, its revenue was around [€10 billion](https://www.macrotrends.net/stocks/charts/ZLNDY/zalando/revenue), a 0.72% increase from the previous year. As of April 2024, Zalando was valued at €6.2 billion. In 2022, it acquired a majority stake in [Highsnobiety](https://www.highsnobiety.com/) to expand its luxury offerings. Recently, it invested in [Sealor](https://saleor.io/blog/saleor_secures_8M_in_seed_extension_round), a platform aiding businesses in their e-commerce goals, based on Sealor’s success with global brands. In early 2023, Zalando announced layoffs, cutting up to 5% of its workforce across various teams.

### Trade Republic

[Trade Republic](https://traderepublic.com/en-de/about) is an online broker based in Berlin. It offers a range of investment options like savings plans, ETFs, and fractional stocks. It also introduced [fractional bonds](https://investmentplatforms.eu/trade-republic-launches-fractional-bonds/) last year and a [new card](https://assets.traderepublic.com/assets/files/240109_TradeRepublic_PressRelease_Card_INT_EN1.pdf) with a 1% saveback reward this year. It operates in 17 countries and has around 500 employees. Since its launch in 2019, it has added 4 million accounts with €38 billion in assets. In 2022, it received €250 million from [Ontario Teachers](https://www.otpp.com/en-ca/about-us/news-and-insights/2022/ontario-teachers--joins-trade-republic-on-its-mission-to-empower/), increasing their valuation to €5.4 billion. It also laid off part of its workforce in 2022, though the number of employees affected wasn’t officially shared. Reviewers on Glassdoor claim that 20% of the staff were let go.

### Contentful

[Contentful](https://www.contentful.com/careers/), a key player in digital content management, is based in Berlin. Its platform helps create, collaborate on, and deliver content for organisations worldwide, including nearly 30% of the [Fortune 500 companies](https://fortune.com/ranking/fortune500/). Since 2019, its annual revenue has grown to nearly $200 million, serving over 4,000 customers, and its team has expanded globally to around 800 employees. In 2021, it secured [$175 million](https://www.contentful.com/newsroom/contentful-closes-175-million-funding-round-led-by-tiger-global/) in funding, primarily from [Tiger Global](https://www.tigerglobal.com/), resulting in a valuation exceeding $3 billion. Contentful is [recognised](https://www.forbes.com/lists/cloud100/?sh=55d681717d9c) in the Forbes 2023 Cloud 100 list for their leading composable content platform. It recently experienced layoffs, though the exact number wasn’t disclosed.

![](https://wearedevelopers.imgix.net/public/magazine/articles/424/images/663328f7eaf04fbe18f95669_WEP2UyaFoufNH26dUR_G4FpaoaYCfp_L3yAxsE8NqhJoNtuTnVeio68se-zaw2mjCmrgDPUOM_LBDSllvTMQLgiLHXkiXVPHlJNoVH2VkTchFwQ0hrMr2ZfCbYP3gDRAu742VR6HPptLxMfnNs3xHSI.png?w=720&fit=max&dpr=2&auto=format)

_Source: Contentful 2023 Survey_

### Sennder

[Sennder](https://www.sennder.com/career) is a digital freight-forwarding company headquartered in Berlin. It connects big shippers with smaller freight carriers, managing a fleet of over 40,000 trucks across Europe—a sort of Uber but for freight transport. The key difference: these guys will likely become profitable [quicker](https://www.cbsnews.com/sanfrancisco/news/uber-first-annual-profit-as-public-company-inflection-point/) than the cab-hailing app. Leading European investors, including [Baillie Gifford](https://www.bailliegifford.com/en/uk/individual-investors/) and [Accel](https://www.accel.com/), have backed Sennder. In December 2022, its valuation was €2.1 billion. In 2023, Sennder partnered with Scania to launch [JUNA](https://www.sennder.com/en/press/sennder-scania-launch-juna-electric-truck-joint-venture), a joint venture promoting electric truck adoption for eco-friendly logistics. It also strengthened its partnership with Poste Italiane through a [€2.3 billion](https://www.sennder.com/en/press/sennder-and-poste-italiane-strengthen-partnership-with-euro2-3-billion-commercial-deal-to-expand-italian-joint-venture) deal. So they’re landing big-time contracts and not just living off their investment cash to grow.

### SumUp

[SumUp](https://www.sumup.com/) is a financial tech company founded by a German entrepreneur and headquartered in London. With nearly 3,000 employees, it allows more than 3.5 million small businesses to accept card payments. Although its revenue reached €150 million in 2023, it's still below 2020 levels. Despite this, SumUp remains profitable, particularly in Europe and Brazil. As of December 2023, its valuation stands at €8.5 billion, which seems high considering the company’s slowdown in growth and reduced profits since 2021. It recently closed a financing round of [€285 million](https://sixthstreetgrowth.com/global-fintech-sumup-raises-e285-million-led-by-sixth-street-growth-and-bain-capital-tech-opportunities/#:~:text=In%202023%20SumUp%20was%20recognised,visit%20sumup.co.uk.&text=Sixth%20Street%20Growth%20makes%20investments,and%20late%2Dstage%20technology%20companies.) to expand into new markets like Australia.

### Delivery Hero

[Delivery Hero](https://www.deliveryhero.com/) is a network of online food ordering sites based in Berlin. They take over so many competitor companies that, if you’ve ever ordered food through an app, the invoice probably came from them. It connects customers with restaurants and operates around 1,000 [Dmarts](https://www.deliveryhero.com/blog/the-key-to-successfully-launching-and-running-dmarts/)—small warehouses for delivery—worldwide. This company already has more than 50,000 employees and considerable revenue. The enterprise valuation as of April 2024 is €12 billion, with total segment revenue reaching [€10 billion](https://www.deliveryhero.com/newsroom/delivery-hero-q4-trading-update/) in 2023, showing a 9.1% growth from the previous year. Yet, it has faced challenges, including selling its [4.5%](https://www.pymnts.com/news/delivery/2024/delivery-hero-sells-97-million-stake-in-deliveroo/) [stake](https://www.pymnts.com/news/delivery/2024/delivery-hero-sells-97-million-stake-in-deliveroo/) in Deliveroo and [dealing](https://www.ctol.digital/news/sachem-head-capital-management-acquires-stake-delivery-hero-se/) with activist investor Sachem Head Capital Management, who seeks changes in leadership due to concerns about operational performance. In 2023, Delivery Hero underwent layoffs, reducing the workforce at its Berlin headquarters and global service roles by around [13%](https://www.reuters.com/business/retail-consumer/delivery-hero-close-hubs-turkey-taiwan-cut-jobs-2023-12-18/). It also closed tech centres in Taiwan and Turkey.

### Taxfix

[Taxfix](https://taxfix.de/en/careers/) is an online platform based in Berlin that helps people in Germany file their taxes using a guided process with simple questions. In 2021, Taxfix earned €21 million in revenue. The last time it raised funding was in 2022, when [Teachers' Venture Growth](https://www.otpp.com/en-ca/investments/our-investments/teachers-venture-growth/) (TVG) led the effort to secure [$220 million](https://eu-assets.contentstack.com/v3/assets/bltb672cf8cba3220b6/blt19afd61b1406f9ee/64e77f552579aa6e7c52a6a2/Taxfix_Announces_%24220_Million_Funding_Round_(1).pdf), which valued the company at more than $1 billion. The money was used to develop new products and enter markets outside of Italy, Germany, and Spain. With around 500 employees, Taxfix underwent restructuring in 2023, laying off 20% of its staff after acquiring one of the rival tax startups in their country, [Steuerbot](https://www.steuerbot.com/).

### Grover

[Grover](https://grover.com/) is an online subscription platform for renting tech products based in Berlin. It has over 5,000 products available for rent in Germany, Austria, the Netherlands, Spain, and the United States. In 2022, Grover saw 354% YoY growth as more cost-conscious customers opted to rent electronics instead of buying them. However, it had to let go of around 40 employees, or about 10% of their workforce, to align with their targets for 2023 and break even. Despite the layoffs, it secured $110 million in funding from investors like [Energy Impact Partners](https://www.energyimpactpartners.com/) and [COI Partners](https://coi-partners.com/?lang=en) and $220 million in debt financing from [Fasanara Capital](https://www.fasanara.com/), resulting in its valuation rising to over $1 billion in 2022.

### Qdrant

[Qdrant](https://qdrant.tech/) is an open-source vector search database based in Berlin. It provides an API service for finding the nearest high-dimensional vectors. Founded in 2021, it has 42 employees and has raised a total of $35.5 million in funding over two rounds. In 2022, it secured a €2 million pre-seed round of funding from [42CAP](https://www.42cap.com/) and [IBB Ventures,](https://www.ibbventures.de/en) followed by a $7.5 million seed financing in 2023 from lead investor [Unusual Ventures](https://www.unusual.vc/). Recently, it raised [$28 million](https://techcrunch.com/2024/01/23/qdrant-open-source-vector-database/) in a funding round led by [Spark Capital](https://www.sparkcapital.com/companies). In 2023, Quadrant introduced a new compression technology called [binary quantization](https://qdrant.tech/articles/binary-quantization/) (BQ), meant to improve indexing speed and reduce memory consumption. This innovation has attracted high-profile users like Elon Musk’s xAI, a company developing the ChatGPT competitor [Grok](https://grok.x.ai/). In January 2024, Qdrant [announced](https://qdrant.tech/blog/qdrant-cloud-on-microsoft-azure/) the availability of Qdrant Cloud on Microsoft Azure, and they've just launched [Qdrant Hybrid Cloud](https://qdrant.tech/blog/hybrid-cloud/), the first managed vector database that can be run anywhere.

> We are proud to share that this new X AI feature just announced by [@elonmusk](https://twitter.com/elonmusk?ref_src=twsrc%5Etfw) is powered by the Qdrant Vector Database. Congrats to the team! In Rust we Trust! 🦀✊😎 [https://t.co/c6dq4njVzn](https://t.co/c6dq4njVzn)
> 
> — Qdrant (@qdrant\_engine) [November 3, 2023](https://twitter.com/qdrant_engine/status/1720493935708025233?ref_src=twsrc%5Etfw)

 

‍

## 📈Rising German tech companies

This section examines the key details of 7 promising German tech companies founded in the past 5 years.

| Company | Location (HQ) | Valuation | Tech | Employees |
| --- | --- | --- | --- | --- |
| Razor Group | Berlin | $1.7 billion as of 2023 | E-commerce platform | 450 |
| Flink | Berlin | $1.075 million as of May 2023 | Grocery delivery app | Undetermined |
| SellerX | Berlin | $1 billion as of May 2023 | E-commerce optimisation | 700 |
| Vivid Money | Berlin | €775 million as of 2022 | Banking app | 200 |
| MAYD Group | Berlin | Undetermined | Telepharmacy platform | 150 |
| Kittl | Berlin | Undetermined | AI-powered design creation | 60 |
| Pliant | Berlin | Undetermined | Corporate credit cards and expense management | Undetermined |

‍

### Razor Group

[Razor Group](https://www.razor-group.com/) is a “new-age” global consumer company based in Berlin that partners with e-commerce sellers to grow successful brands. Since starting in 2020, Razor has quickly grown to serve over 1 million customers with a portfolio of 4,000 products. The company has around 450 employees, with offices in Europe, North America, and Asia. Razor made significant moves in 2023, [acquiring](https://techcrunch.com/2023/04/17/razor-group-aggregator-stryze/) German competitor The Stryze Group and closing a funding round at $88 million. Quiet acquisitions of Valoreo in Latin America and Factory14 in Europe followed, but the big news came with the [recent purchase](https://www.prnewswire.com/news-releases/razor-group-acquires-us-amazon-aggregator-perch-and-announces-series-d-financing-round-302080402.html) of Perch, a leading Amazon aggregator in the US. This deal positions Razor at a valuation of [$1.7 billion](https://www.bloomberg.com/news/articles/2024-03-04/arnault-backed-razor-buys-perch-in-amazon-aggregator-shakeout) with a catalogue of 40,000 products across three continents, consolidating the company as the #1 player in the industry.

### Flink

[Flink](https://www.goflink.com/en/) is an online grocery delivery service based in Berlin that brings high-quality groceries to your doorstep within minutes. It operates in over 100 cities across Germany, France, and the Netherlands and offers [flexible job opportunities](https://riders.goflink.com/de_en?utm_source=internaltransfer), with hourly pay starting at €12.41 plus tips. With a total funding of $1.3 billion across 8 rounds, Flink's valuation hit $1.075 million in May 2023, with $427 million in revenue in 2022. Like many grocery apps, Flink thrived during the pandemic but is now facing challenges due to rising costs and lower demand. Currently, the Turkish rival [Getir](https://getir.com/us/) is in [talks](https://www.inside.beer/news/detail/germany-getir-eyes-takeover-of-competitor-flink-amid-financial-struggles/) to acquire Flink, aiming to merge both services under the Flink name in Germany, creating a company that would be valued at $10 billion.

### SellerX

[SellerX](https://sellerx.com/) is an aggregator of e-commerce businesses headquartered in Berlin. It specialises in helping entrepreneurs take their Amazon businesses to a higher revenue level by providing analytics, processes, and production support. In 2022, they faced some setbacks due to tech downtime and had to lay off around 28 employees from their 700-person workforce. However, in May 2023, SellerX rebounded by securing nearly $900 million in equity and debt financing. They also struck a [deal](https://sellerx.com/sellerx-to-acquire-elevate-brands-creating-one-of-the-worlds-leading-ecommerce-aggregators/) to acquire Elevate Brands, a prominent US-based aggregator of e-commerce businesses. This move led to the formation of the SellerX Group, which became one of the largest and most profitable global consolidators of e-commerce brands. By May 2023, SellerX's valuation had climbed to $1 billion.

### Vivid Money

[Vivid Money](https://vivid.money/en-de/support/) is a Berlin-based digital banking platform offering various financial services like high-interest savings, investments, and cashback rewards, all accessible through a secure and user-friendly mobile app. The startup has secured over €200 million from prestigious investors like [Ribbit Capital](https://ribbitcap.com/) and [Greenoaks Capital](https://greenoaks.com/), resulting in a valuation of €775 million, and it currently employs an international team of 200 employees. In February, Vivid [acquired](https://press.vivid.money/press-releases-feed/licence-team-and-technology-platform-vivid-acquires-joompay#:~:text=Licence%2C%20Team%20and%20Technology%20Platform%3A%20Vivid%20acquires%20Joompay&text=Luxembourg%2Dbased%20Joompay%20joins%20Vivid,even%20wider%20range%20of%20features.) the Luxembourg fintech Joompay, and [announced](https://press.vivid.money/press-releases-feed/vivid-expands-into-23-additional-eu-countries-and-enables-instant-transfers) its expansion into 23 additional EU countries. With this move, the Vivid app is now available across Europe, and thanks to its newly launched SEPA Instant, payments can now be made in real time.

### MAYD Group

[MAYD Group](https://www.getmayd.com/pharmacy-delivery/) is Europe’s first telepharmacy platform headquartered in Berlin, providing quick delivery of prescription medicines 365 days a year. Since its launch in 2021, it has employed around 150 staff members from 40 different nationalities, along with 350 permanently employed riders. With an investment of €43 million, MAYD is leading the digitisation of the healthcare sector. In 2022, it secured €30 million in funding from US investor [Lightspeed Venture Partners](https://lsvp.com/), which was used to accelerate its expansion in Germany. Currently, MAYD delivers over 2,000 healthcare-related products to over 70 cities and towns across Germany.

### Kittl

[Kittl](https://www.kittl.com/) is a Berlin-based company that offers AI-powered tools for design creation. Since its launch in 2020, Kittl has raised a total of $49.53 million over 5 rounds. Its latest funding round, $36 million from [Institutional Venture Partners](https://www.ivp.com/), was secured in January 2024. With a team of around 60 professionals with backgrounds in Revolut, Meta, and Canva, Kittl plans to hire an additional 50 people this year and is [openly](https://www.kittl.com/career) on the search for engineers, product managers and sales leaders. Among other features, the company has developed [Kittl AI-X1](https://www.kittl.com/tools/kittl-ai-x1), which they branded as “the first text-to-graphic generative AI model” in graphic design.

### Pliant

[Pliant](https://www.getpliant.com/de/) is a modern Berlin-based financial startup providing corporate credit cards to businesses with good credit ratings and high spending habits. With multi-currency capabilities, it serves 11 currencies, extending its Electronic Money Institution licence across 25 nations in the European Economic Area. Pliant's core business revolves around its innovative [cards-as-a-service (CaaS) model](https://www.getpliant.com/en/cards-as-a-service/), which allows partner companies to create customised credit card programmes. The company secured €33 million in funding in 2023, the largest for any tech company in Germany, and obtained €100 million in debt refinancing. It reported significant revenue in 2023 and recently raised €18 million in an expansion fund headed by [PayPal Ventures](https://www.paypal.vc/home/default.aspx).

## Get a job at the next big company in German tech

Whether you are already living in Germany but looking for a job, planning to move there, or just stoking your interest in this country and its opportunities, you should definitely have a look at the German software companies listed in this article.

Many of these businesses are hiring in Germany, so there are chances of joining any of these teams. You just have to pay attention to the open positions published on their websites, or you can go a little bolder and [sign up](https://www.wearedevelopers.com/en/developer/sign-up) for a profile on our tech recruiting platform, [WeAreDevelopers](https://www.wearedevelopers.com/en/jobs). Once you are part of our community, your profile gets sent to nearby companies looking for applicants. As a developer, you can also actively show interest in job postings, so employers can contact you with opportunities based on your experience. Good luck!



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