Together with the founders, FLEX has increased sales by around 250% to over EUR 30 million in recurring annual revenue (ARR) in just two years, further expanded profitability and firmly established Egoditor as the global market leader in QR code software.
FLEX Capital, a private equity investor with a focus on medium-sized software and internet companies in German-speaking countries, has sold the majority of its shares in Egoditor GmbH, the market leader in QR code software, to Bitly Inc, the world’s most widely used short URL service.
With the sale of the first portfolio company, the FLEX Capital fund, founded by successful serial entrepreneurs, shows how German hidden champions can be raised to the international stage together with the respective founders. FLEX sees itself as a hands-on partner for entrepreneurs who is at their side in all growth challenges.
You can find more details on the jointly implemented levers for success at Egoditor at: flex.capital/portfolio/case-study-egoditor
Those responsible at FLEX are pleased about the sale and about taking the next step together with Bitly and the portfolio company Egoditor. In this context, FLEX, together with the founders, announces that it will reinvest a significant share of the purchase price in Bitly.
“The two founders built Egoditor with a lot of personal risk and without any external funding. An unbelievable entrepreneurial achievement, and above all an example that it is not always the size of the financing round that matters in the end. A global tech champion made in Germany and two entrepreneurs who, with impressive self-reflection, have shown a feeling for the right decisions at the right time. Sell part of the shares to FLEX in order to take out personal risk, take the company to the next level together and ultimately benefit disproportionately. This is how FLEX’s offer to entrepreneurs can be summarized.“
“We are extremely proud of what we’ve built at Egoditor together with FLEX Capital. Flex supported us from day one with a broad network and profound entrepreneurial expertise in our further growth. We are grateful to have chosen to go on this journey together and are now excited to integrate our QR code platform with Bitly.” Nils Drescher and Nils Engelking, founders and co-CEOs of Egoditor.
About Bitly
Bitly is a leading global SaaS company offering a comprehensive platform designed to enable every piece of information shared online to connect with key audiences and ignite action. Bitly’s all-in-one platform empowers more than 5 million monthly active users and over 325,000 customers globally – people, influencers, brands, and businesses of every size – to use branded links, custom QR codes, and link-in-bio solutions as a trusted gateway for engaging their audience and delivering critical notifications, information, and experiences. For more information on Bitly, visit https://bitly.com/.
About Egoditor
Egoditor GmbH is the international SaaS provider behind qr-code-generator.com and the all-in-one QR Code marketing platform, QR Code Generator PRO. Egoditor was founded in 2009 by Nils Engelking and Nils Drescher as a two-man startup in Bielefeld and was an early adopter of QR code technology. In 2019, FLEX Capital took over the majority of the shares. The growing demand for simpler digital tools paved the way for the QR code generator to become an industry leader. Today it has more than ten million users in more than 190 countries. Customers range from small and medium-sized businesses in all industries to global brands and nonprofits. These include Starbucks, Zalando, Salvation Army, Accor and GAP. In addition to the free generator tool – which is offered in more than 30 languages - Egoditor offers a professional service for custom QR codes, multilingual customer support and a detailed scan tracking tool. Ultimately, Egoditor aims to make mobile marketing valuable and accessible to everyone, one scan at a time.
Contact
Michelle Gerstberger
FLEX Capital – Head of Communications
mg@flex.capital
+49 163 5497 615
flex.capital
