German ERP system developer Xentral closes a $20M Series A round
As reported by TechCrunch, Augsburg-based Xentral has secured $20 million in a Series A financing round led by the American VC Sequoia Capital with participation from Visionaires Club.
Founded in 2017 by CEO Benedikt Sauter and Claudia Sauter, Xentral develops enterprise resource planning cloud software providing a variety of back-office functions for the online small business. The company’s platform enables teams to manage all business processes centrally and save time by automating different manual tasks. It offers services like order and warehouse management, packaging, fulfillment, accounting and sales management.
To date, more than 1,000 startups and established companies use Xentral including such direct-to-consumer brands as the Nu Company, KoRo, YFood and Flyeralarm. Most users are from Germany, but, as Benedikt Sauter claimed, Xentral is aimed to expand its services to other European markets.