DBAG Fund VIII completed its investment in the German-based company freiheit.com, a fastgrowing software engineering company established in 1999, which develops extensive software platforms for digital business models. freiheit.com was managed and funded by its two founders since the beginning and has shown a significant growth over the past 22 years. Eight Advisory Germany supported the transaction with tax due diligence services.
freiheit.com is a pioneer in agile software development. Claudia Dietze and Stefan Richter founded the company in Hamburg in 1999 and have developed it since then. freiheit.com has seen strong growth in recent years. Revenue increased by an annual average of 18 per cent between 2018 and 2020; revenue of around 30 million euros is projected for 2021.
Some of freiheit.com’s long-standing clients – mainly large groups and mid-sized companies – include Daimler, Metro and Tchibo. freiheit.com helps them to implement complex projects, in order to structure the digital transformation of their business models. This includes, for example, facilitating music streaming in cars, developing cost-effective and stable order platforms, or consistently developing attractive, high-performance web shops.
freiheit.com has around 150 employees – the majority of them in Hamburg – most of whom are software developers. It opened a second office in Lisbon (Portugal) three years ago. The two founders place great importance on a special corporate culture that promotes employee loyalty.
The Eight Advisory team led by Jan Ole Burchert provided tax due diligence services with the support of Manuel Wall, Adrian Mayer and Alexander Block.