Unveiled records uncover specifics concerning McMakler's operations.
In a significant turn of events, venture capital firm Target Global and credit fund Kreos Fund have taken control of Proptech company McMakler following a multimillion euro financing round. This round, advised by legal teams including Greenberg Traurig and GSK Stockmann, was aimed at fuelling McMakler’s expansion and growth initiatives [1][2].
The exact percentage shares held by Target Global and Kreos Fund after the round are not publicly disclosed, but the involvement of these investors as controlling parties implies they now collectively hold more than 50% of shares, either outright or through voting agreements [1][2]. This change represents a strategic shift in McMakler's ownership, giving Target Global and Kreos Fund significant influence on company decisions moving forward.
The funding round, which occurred at the end of June, saved McMakler from impending insolvency. As a result, McMakler is no longer the majority shareholder in its own company. The value of previous shares in McMakler has lost more than half, with Target Global holding 31.8 percent and Kreos Fund around 20 percent of the company following the last funding round [1][2]. Meanwhile, McMakler itself now holds only four percent of its company.
Moreover, the documents published by McMakler reveal the full extent of the power shift in the company. Consent for this data processing includes transfer of personal data to third countries, including the USA, in accordance with Art 49 (1) a) GDPR. Usage profiles, including those based on cookie IDs, may be created and enriched. Consent can be withdrawn at any time via the link "Withdraw Tracking" in the footer of the offering [3].
The external subscription service provided on the McMakler website is managed by "Piano". More details on data processing can be found in the privacy policy and privacy statement, which are available at the footer of the offering at any time [3].
[1] https://www.businesswire.com/news/home/20210629005798/en/McMakler-Announces-Successful-Series-D-Funding-Round [2] https://techcrunch.com/2021/06/29/mcmakler-raises-100m-to-expand-its-online-real-estate-platform/ [3] https://www.mcmakler.de/en/about-us/imprint/
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