The Hamburg-based impact startup recyclehero picks up recyclable materials such as waste paper, waste glass, used clothing, and deposits from companies and private households using e-bikes. The business idea has now convinced two business angels and a development bank and led them to conclude a pre-seed round with a seven-figure sum.
The angel investor and growth expert Tilman Finlay-Freundlich from Hamburg and Wilfried Gillrath, ex-CEO of the green energy supplier Lichtblick, are involved. With the digital bank Tomorrow and startups such as Sirplus and Yook, he supports other sustainable Hamburg companies as a business angel as well.
The next round of financing could follow soon
The plan is to invest the money in extending the IT infrastructure, expanding to more German cities and enlarging the team, which currently has 17 members. Another round of financing could follow soon, as there are apparently enough interested parties. "We are pleased about the great interest in our mission and are already holding talks for the next round" says Nadine Herbrich, co-founder of recyclehero. "For us, our business angels are part of the team and we really appreciate the exchange" adds co-founder Alessandro Cocco.
recyclehero is a brand of HC Sustainable Logistics GmbH, founded in 2018. The company collects recyclables such as waste paper and clothing, as well as deposit items from private households and commercial customers. These include Stadtsalat and the Scandic Hotel Emporio, among others. The company offers a subscription model and one-off collections on demand. recyclehero is a startup with a social vein: it prefers to employ people who would otherwise have difficulties to find work, and the deposit income goes to aid projects.
