Tiptapp, a Stockholm-based startup founded in 2016, has secured a €1 million non-dilutive loan from Gilion to support its growth strategy in Berlin. The company, which connects users for moving, recycling, and delivery tasks, plans to use the funds to boost its marketing efforts in this key market. Tiptapp, which has already expanded to several European countries and facilitated over 1.27 million pickups, is aiming to enhance its user base while maintaining its ownership and control.
The loan’s flexible terms, including an extended interest-only period, will allow Tiptapp to invest in user acquisition without compromising its cash flow. This funding aligns with Tiptapp’s ongoing mission to improve urban logistics and sustainability, supported by its collaboration with local waste management services in Berlin.
Tiptapp addresses the challenges of urban logistics by providing a platform that connects individuals needing assistance with moving, recycling, or delivering items with those offering space in their vehicles. The app’s innovative approach facilitates efficient, sustainable solutions for everyday tasks, reducing car dependency and CO2 emissions. With a user base spanning Sweden, the UK, Germany, and Portugal, Tiptapp has handled over 1.27 million pickups and saved 774,000 car rides.
The company’s commitment to enhancing urban living is further demonstrated through its partnership with Berliner Stadtreinigungsbetriebe (BSR) in Berlin, streamlining recycling processes and contributing to city sustainability efforts. Tiptapp continues to expand its impact across Europe, aiming to make city life more convenient and eco-friendly.
Tim Bjelkstam, CEO and Co-Founder of Tiptapp, highlighted the strategic benefits of choosing non-dilutive funding:
“We’re proud to already be a profitable company, which gives us the flexibility to choose the best funding strategy to support our growth. Opting for non-dilutive funding was the most lucrative option, allowing us to supercharge user growth without giving up control or equity. This €1 million loan is specifically earmarked for amplifying our marketing efforts in Berlin, ensuring that we can reach more users while maintaining our company’s vision and ownership.”
Gilion is a financial organization specializing in providing growth capital to innovative companies with strong potential and profitability. With a focus on supporting businesses that are making significant impacts in their sectors, Gilion offers non-dilutive funding solutions designed to accelerate growth without compromising ownership or control.
“As a fellow Berliner, I am thrilled that we are supporting Tiptapp as they take a significant step towards a greener, better, and cleaner Berlin. Tiptapp empowers residents to responsibly dispose of unwanted items, reducing waste and promoting recycling right from our doorsteps. Through close collaboration with local partners like BSR, they are not only streamlining waste management but also strengthening our community’s commitment to sustainability,” says Mariam Koorang, Head of Germany at Gilion.
The organization partners with firms that demonstrate strong unit economics and a clear commitment to their market and sustainability goals. By providing flexible financial terms, such as longer interest-only periods, Gilion aims to help companies expand their operations and achieve their strategic objectives while maintaining financial stability.
Read the orginal article: https://arcticstartup.com/tiptapp-raises-e1m/
