Tengelmann joins media group Bertelsmann backing the fast-growing e-commerce company.
Germany-based retailer Tengelmann Group has bought a 13% stake in Munich-based e-commerce company Deal United for an undisclosed sum as part of a series B funding round for the portfolio company.
Tengelmann has joined a corporate venturing unit of German-based media group Bertelsmann, Germany-based bank KFW Bankengruppe, state investment fund High-Tech Gründerfonds and venture capital firm Venture Incubator, which was founded by management consultancy firm McKinsey and the Swiss Federal Institute of Technology in Zürich (ETHZ), in backing Deal United.…
