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Deal5: GoStudent CEO Felix Ohswald on EUR 8.3 Million Financing Round

Deal5: GoStudent CEO Felix Ohswald on EUR 8.3 Million Financing Round

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On July 2, 2020, CEE Legal Matters reported that Herbst Kinsky had advised Viennese start-up GoStudent GmbH on its EUR 8.3 million Series A financing round, which was led by VC fund Left Lane Capital. We spoke with Felix Ohswald, CEO of GoStudent, to learn more.

CEELM: Please tell us a few words about GoStudent. 

Felix: GoStudent operates an affordable digital school connecting students with the best teachers worldwide for individual or group tutoring sessions. The company offers 6, 12, and 24-month tutoring subscription packages to students in the DACH region today, with imminent plans to expand its footprint to other European markets.

CEELM: Congratulations on raising EUR 8.3 million in this financing round. What is that capital intended for? 

Felix: We plan on further strengthening our position in the DACH region as well as starting our first expansion into the French market. 

CEELM: What were the USPs you put forward that you believe were most attractive to the investors? 

Felix: We build an education infrastructure that allows teachers to become great digital teachers and get the best out of them. The teacher-centric focus is unique in the online learning space, in the past, the focus was too much on open marketplaces rather than building scalable and technological defensible teacher infrastructure. 

CEELM: What was Herbst Kinky’s mandate specifically? What did you retain the firm to advise you on during the financing round?

Felix: Herbst Kinsky advised us throughout the whole process, starting with advising us on the negotiation of the term sheet until finally signing the deal in front of the notary. 

CEELM: Last but not least, why did you retain Herbst Kinsky over other firms?

Felix: Among lawyers, I have the experience that it is difficult to find truly entrepreneurship-oriented lawyers who also see the bigger picture. Herbst Kinsky –and especially Florian Steinhart and Magdalena Wagner, who supported us throughout the deal – clearly showed that and that is why we love working with them and will continue doing so in the future.