Today our DEAL TALKS
reflects a chat with Taavi Lepmets
, Partner at Trind Ventures
, who talks about their recent investment into Tandem. The Berlin-based startup behind Tandem
, an app for practicing a second language, has closed a $5.7 million Series A round of financing to capitalize on growth opportunities it’s seeing as the coronavirus crisis continues to accelerate the switch to digital and online learning.Here’s what Taavi said:
1. What makes Tandem unique?
We have been lucky to be able to work with the founders of Tandem, Arnd Achentrup, and Tobias Dickmeis and its Berlin-based international team for two years now. They are super well organized and have worked hard with a lot of enthusiasm in building a growing 10m+ user community. Tandem is a social network, unlike anything we have seen with great engagement and clear value for its members. The community members build friendships and "nudge" each other into fun and sustainable learning paths.2. How is the investment used?
The community has grown even more during the lockdowns resulting from COVID-19 and the founders felt it was a good time to invest more. There are many opportunities to work on product and community growth. Tandem team will grow from 24 to about 50 people.3. Impact and diversity
The addiction created by social networks and the dopamine rush it creates in our brains is well known. Most social networks create just waste and frustration. Tandem however engages our dopamine rush for a good cause of learning a new language and has thereby a positive impact on its community. The team of Tandem is diverse and international.Key advisors of the deal
Luther Law, Lacore and CMS Law
- Read more on the news HERE