Founded in 2018, Startup With over 100,000 users and over 1,500 non-profit organizations, it claims to be Germany's largest platform for volunteer work. The app Letsact connects volunteers with organizations. However, the acquisition of the operating company Lets is primarily aimed at the corporate customer sector, where it offers software solutions for employee and corporate engagement. Paul Bäumler, founder of Lets GmbH, says:
"Together with our new shareholders, we want to expand the business-to-business area of Lets GmbH and firmly establish corporate volunteering in the German corporate landscape."
Norbert Porazik, managing partner of Fund Finance, says:
"Social responsibility and sustainability have long been an integral part of our corporate strategy. We've repeatedly noticed that implementation measures are often very complicated and bureaucratic. This is what sets Letsact apart."
Letsact app becomes non-profit
As part of the acquisition, the startup has decided to continue operating its Letsact app on a non-profit basis. For this purpose, a non-profit social enterprise will be established. Ludwig Petersen, founder of Letsact, says:
"The commitment of Bayerische and Fonds Finanz allows us, with Letsact, to make volunteering more accessible in Germany and beyond, thereby attracting more people to a good cause."
Last year, the two founders of the startup appeared in the TV show 'The Lion's Den' and had to endure harsh criticism of their business model and company valuation, but also received a lot of praise for the idea.
