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Mountain Alliance AG: portfolio company Lingoda successfully completes significant financing round

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DGAP-News: Mountain Alliance AG / Key word(s): Investment/Financing
15.04.2021 / 14:00
The issuer is solely responsible for the content of this announcement.

Mountain Alliance AG: portfolio company Lingoda successfully completes significant financing round

Munich, 15 April 2021 - Lingoda, a portfolio company of Mountain Alliance AG (ISIN DE000A12UK08), has secured fresh growth capital in a financing round involving global growth equity firm Summit Partners as lead-investor and investor Conny Boersch, founder of Mountain Partners. In total, Summit Partners will invest EUR 57m for its equity stake in Lingoda. The investment will support Lingoda's expansion into new markets and further enhance the technological capabilities of its virtual classrooms to accelerate its already strong growth. Mountain Alliance AG holds around 7% of Lingoda following the completion of the financing round.

Lingoda is an online language school with virtual classrooms. Participants in the courses can see, hear and interact with each other - just like in traditional language schools, only online. The platform has grown dynamically since its founding. Last year alone, Lingoda increased its customer base by almost 200% and served students from nearly 200 countries worldwide. The need for virtual solutions in education is continuously growing. The COVID crisis has further fuelled growth and accelerated the shift to online learning. The global market for language learning is estimated to be worth more than $50 billion annually.

"We have been accompanying the growth at Lingoda for some time now and are excited about the dynamic development and future growth potential. I am confident that the fresh capital and strong investors at our side will enable the company to take large steps towards becoming a leader in the online language school space not only across Europe but also globally. Even before the COVID crisis E-Learning had either complemented or replaced traditional forms of learning due to its manifold potentials. We now experience an irreversible acceleration in this process. Lingoda has the potential to become a world leader in its area. Together we will continue to support and drive the scaling and internationalisation of Lingoda," says Manfred Danner, board member of Mountain Alliance AG.


About Mountain Alliance AG:

Mountain Alliance AG (ISIN: DE000A12UK08) is an operative investment company whose shares are listed in the SME segment m:access of the Munich Stock Exchange and in the Basic Board of the Frankfurt Stock Exchange. As a lean, transparent and experienced investor, the company is dedicated to the industry of the future, in which it has many years of know-how and an excellent network: the digital business. Mountain Alliance AG currently holds portfolio companies in four segments: Technology, Digital Business Services, Digital Retail and Meta-Platforms & Media. Through its listing Mountain Alliance enables its shareholders a simple access to a diversified portfolio of digital and technology based assets.


Contact:
Mountain Alliance AG
Manfred Danner
COO/CFO
Bavariaring 17
80336 Munich
phone: +49 89 2314141 00
fax: +49 89 2314141 11
e-mail: danner@mountain-alliance.de
www.mountain-alliance.de

CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Investor Relations
Bahnhofstr. 98
82166 Gräfelfing/Munich
phone: +49 89 1250903-30
e-mail: sh@crossalliance.de
www.crossalliance.de


15.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Mountain Alliance AG

Bavariaring 17

80336 München

Germany

Phone:

+49 89 231 41 41 00

Fax:

+49 89 231 41 41 11

E-mail:

danner@mountain-alliance.de

Internet:

www.mountain-alliance.de

ISIN:

DE000A12UK08

WKN:

A12UK0

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Munich (m:access), Stuttgart, Tradegate Exchange

EQS News ID:

1185310


 

End of News

DGAP News Service

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