ruWe are excited to announce a new exit from German startup Qentnis. The company is a provider of financial metrics. Such data helps hedge funds and other institutional investors analyze the development of both the market and specific companies to improve their investment strategies. The startup was bought by another well-known data provider, Consumer Edge, which operates in the US and UK markets.

At the time of participation in the round, the startup was valued at 13.5 million euros. The current value of the company after the takeover is not disclosed.

According to Anton Poleskov, head of ICLUB Global in Kyiv, the exit occurred after 8 months, representing a record for club members. “We entered the deal in October 2021, and already this June, the startup team announced the M&A. Our previous record was 11 months,” he added. ICLUB Global had 15 investors participating. This is the sixth exit in the club's history since its founding.

Victoria Tigipko, ICLUB Global President, Founder & Managing Partner of TA Ventures, emphasizes the strong team and focus on the European alternative data market among the reasons for her interest in the startup.

The founders of the startup are Benedict Ernst and Simon Krueger. Benedict, the CEO, has experience in leadership roles in data startups. In contrast, Simon, CTO, has twenty years of experience as a lead technician.

The global alternative data market was estimated at $1.72 billion in 2020 and is projected to grow 58.5% annually through 2028. However, at the same time as this growth, there is still no clear leader in Europe, while competition is limited in the U.S.

At the beginning of acquaintance with the startup, analysts at TA Ventures drew attention to a wide list of exit opportunities, among which M&A was the most likely. Potential buyers could be traditional data providers (S&P, Bloomberg, Pitchbook) and statistical agencies (Nielsen or Jfk). As a result, Qentnis was bought by a data-related company.