The Munich-based startup NFON has successfully gone public. High-Tech Founders Fund holds his shares, another investor cashed in.
The issue price on May 11 was €12 per share. At the close of trading, the price was €13.26. NFON raised €50 million with the IPO. The company issued a total of 4,166,666 new shares. The company will use the fresh capital to finance its growth strategy, develop additional services, and accelerate its international expansion, primarily into France, Italy, and the Netherlands. NFON offers cloud telephone systems.
The High-Tech Gründerfonds (HTGF) invested in NFON at an early stage. Markus Kreßmann, who has been supporting NFON as an HTGF partner since 2008, says:
"We are so confident in NFON that we did not exercise our option to sell shares in the IPO. The successful IPO confirms our confidence—and the stable share price shows that investors also believe in the product and company."
NFON CEO Hans Szymanski says:
"We are shaping the telephony of the future. After our successful IPO, we want to become the number 1 in Europe. Therefore, it is important to continue to be able to rely on good partners. That's why we are very pleased that HTGF continues to invest in NFON."
NFON now has capital for “ambitious growth targets”
VC investor MIG used the IPO to sell 486,108 shares valued at €5.83 million. The venture capitalist had previously invested €4.49 million in NFON and held approximately 13.3 percent of the company's share capital. MIG's stake now stands at 5.76 percent. Michael Motschmann, General Partner at MIG, says:
"We have accompanied the rapid development of NFON AG since 2009. The IPO and our partial exit come at the right time. NFON will now receive the necessary capital with which CEO and CFO Hans Szymanski and his dedicated team can realize their ambitious growth goals."
