FinTech Startup troy Successfully Completes Series A Financing Round

eCAPITAL NEWS
FinTech startup troy, which specializes in customer-friendly debt collection, has successfully completed its second round of financing, raising a medium-sized seven-digit amount. troy completed the funding round with the help of four new investors: eCAPITAL, BORN2GROW, Avala Capital and Seed X Liechtenstein AG. Also, all existing investors have re-invested.

troy is changing the debt collection industry by optimizing the customer experience, using tools and methods from marketing and CRM combined with data and machine learning. troy was founded in 2017 by Philip Rürup and Till Völzke in Lippstadt and was officially launched in September 2018. Representing troy’s rapidly growing team, Philip Rürup, Managing Director, said, “We are very pleased with our investors and our new commitment. We have made it our mission to revolutionize the debt collection industry. This is a major challenge, and after a year, we have seen that our vision is coming to fruition. We are very excited to continue our journey to improve the customer experience in the debt collection industry and to expand our lead to our competitors. With the A-Series funding round completed, we have the ideal partners on board to progress to the next levels.”

eCAPITAL, as a leading independent venture capitalist based in Germany, focused on troy’s high level cybersecurity, privacy and customer-friendliness.

troy's goal is to protect the confidential data of customers and clients. As specialized data security investors, we see troy's technology platform as a particular USP relative to the competition. For this reason, eCAPITAL has not only invested in troy through its Technology Fund (eCAPITAL IV), but also with Germany's first specialized cybersecurity fund (eCAPITAL Cybersecurity) and will support the company with its experience, cybersecurity expertise and global network.

Willi Mannheims,
managing partner at eCAPITAL

Tom Villinger, Managing Director of BORN2GROW parent company zfhn Zukunftsfonds Heilbronn, describes what convinced their committee to invest in troy: “troy sets new standards in debt collection through the use of artificial intelligence and the consistent focus on customer experience. The founder’s team, as well as the technological strengths of the platform, have particularly convinced us in our investment decision.”

For Avala Capital, the strong troy team and the two founders Philip Rürup and Till Völzke, as well as the Unit Economics and current traction were the deciding factors for the investment. Misha Obradovic, Founder and CEO of the Berlin Superangel, says that he is seeing great potential for growth in troy and that he wants to support and accompany the team in the long term, as has already been done with Delivery Hero, Raisin, Billie and numerous other FinTech and FoodTech assets.

troy is one of the first investments of the newly founded FinTech-focused venture capitalist Seed X Liechtenstein. Matthias Jaeggi, Partner and CEO of Seed X Liechtenstein said: “Our goal is to support the most capable entrepreneurs with the most innovative business models through capital, knowledge and our network. troy improves the business model, but also the customer experience in the collection industry massively.”

troy had attracted the High-Tech-Gründerfonds (HTGF) in the first financing round as a seed investor. Key investors of the public-private-partnership are the Federal Ministry of Economics and Energy (BMWi), KfW Capital, Fraunhofer Society as well as 33 businesses from the private sector. When asked about the reasons for the extended commitment, Jens Baumgärtner, Investment Manager at HTGF, stated: “Since our seed investment in May 2018, troy has developed impressively. This proves that consumer-friendly debt collection is not only politically desired and socially meaningful, but also that market-leading success rates are possible. We want to continue to promote this course and we are therefore happy to support troy again in this round.”

About troy

troy is a FinTech company that specializes in customer-friendly digital debt collection. The startup optimizes the customer experience in debt collection and thus maintains the customer relationship, using tools and methods from marketing and CRM combined with data and machine learning. troy was founded in 2017 by Philip Rürup and Till Völzke in Lippstadt and currently has locations in Lippstadt and Hamburg. Key client industries are telecommunications, utilities, the publishing industry and multi-channel commerce. The seed financing round with a small seven-digit amount took place in May 2018 with the HTGF and business angels from the FinTech industry as key investors. With the second financing round in October 2019, four new investors have joined, raising a medium-sized seven-digit amount.

About eCAPITAL
eCAPITAL is a venture capital firm that provides early to growth stage funding to technology companies in the fields of software & information technology, cybersecurity, industry 4.0, new materials and cleantech. Founded in 1999, eCAPITAL has a history of supporting entrepreneurs determined to build companies with lasting significance. Partnering with eCAPITAL means joining an international network of business leaders, entrepreneurs, technologists and potential partners. eCAPITAL is located in Germany and currently manages funds with over EUR 220 million under management.

Contact
troy gmbh
Philip Rürup (Gründer und Geschäftsführer)
Erwitter Straße 105
59557 Lippstadt, Germany
Tel.: +49 172 16 00 437
eMail: philip@troy-bleiben.de
www.troy-bleiben.de/en

Press Contact troy
Weller Media
Susanne Weller
Tel.: +49 172 308 41 36
eMail: s.weller@weller-media.com

eCAPITAL ENTREPRENEURIAL PARTNERS AG
Sylvia Richter
Hafenweg 24
48155 Münster, Germany
Tel.: +49 251 70 37 67 0
eMail: info@ecapital.vc
http://www.ecapital.vc