Orrick advised Frankfurt-based fintech startup Giroxx, which specializes in online foreign currency remittances, on a financing round. The main investor is Hessen Kapital, while several business angels have also invested in the company.
Giroxx was founded in 2015 by Klaus Hoffmann and Jörg Sonnenschein, both of whom have many years of experience in management positions at banks and financial brokers. Foreign transfers are cheaper and easier at Giroxx, especially for small and medium-sized businesses, and they are just as secure as with German banks. The company is supervised by the Federal Financial Supervisory Authority (BaFin).
Hessen Kapital is a fund financed by the German State of Hesse and the EU’s European Regional Development Fund. Its aim is to provide financing alternatives for mid-sized companies located in the state of Hesse.
Giroxx was advised by an Orrick team led by Munich-based M&A and Private Equity partner Fabian von Samson-Himmelstjerna, who regularly advises start-ups and corporate investors on growth transactions. He was supported by Munich-based M&A and Private Equity associate Karl Ehrenberg and Capital Markets and Financial Regulatory partner Timo Holzborn, and Düsseldorf-based Cyber, Privacy & Data Innovation partner Christian Schröder.