KlickOwn/iFunded agrees strategic partnership with PlanetHome Group
A team led by Dr. Thorsten Kuthe and Christopher Görtz from Heuking Kühn Lüer Wojtek’s Cologne office advised KlickOwn AG (of which the iFunded platform is an affiliate) on a strategic investment by PlanetHome Group GmbH. As part of a capital increase in kind of KlickOwn AG, PlanetHome Group will contribute various licenses to brands of PlanetHome Group GmbH. It also undertakes to subscribe to a cash capital increase of about EUR 1.5 million. PlanetHome Group will use the two capital increases to acquire a 15 percent stake in KlickOwn. The agreement also provides for an option that PlanetHome Group GmbH may exercise, according to which it is entitled to subscribe to such a number of newly issued ordinary shares in one or more of the company’s capital increases to allow it to achieve a 25 percent stake in KlickOwn AG. In the future, Klickown AG will operate under the name PlanetHome Investment AG and thereby gain access to the PlanetHome Group network.
Berlin-based KlickOwn AG is a listed group that focuses on crowdfunding in mezzanine financing. The iFunded platform, founded in 2015, allows investors to invest in real estate projects throughout Germany. It is leveraging blockchain technology via tokens to handle financing.
PlanetHome Group GmbH is a real estate service provider in Germany with the core areas of brokerage and financing of residential real estate. The business model focuses on close cooperation with banks, insurance companies, and financial service providers. In over 30 years, PlanetHome has brokered some 100,000 real estate units.
Counsel to KlickOwn AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead, Capital Markets),
Christopher Görtz (Lead, Capital Markets),
Svea Kunz (IP, Media & Technology), all Cologne