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.