German law office Heuking Kühn Lüer Wojtek provided legal counsel to Cologne-based Retailo AG on its efforts to attract venture capital and its start in the market. Retailo entered the market with a business idea that is entirely new for Germany, the gift card world.
The core idea behind this model is the sale of prepaid cards and gift cards from a variety of different suppliers by means of one single system. To do so, Retailo pools cards being offered by retailers, such as Tchibo, Thalia, Fleurop or Otto, to one general product line, which in its bundled form is presented at heavily frequented sales outlets.
"This has been one of the largest start-up financing projects to date in Germany," says Thorsten Kuthe of Heuking Kühn Lüer Wojtek. In addition, the law firm created and prepared all of the agreements between Retailo AG and the various partner companies and other service providers.
Heuking Kühn Lüer Wojtek attorneys involved in the transaction: