#Interview
“I would currently advise three things to founders: clarity, focus and capital discipline,” says Moritz Otterbach, Head of Investments at amberra. In recent years, the lender has invested in companies such as LillianCare, ubiMaster and nuuEnergy.
Amberra is the corporate venturing studio of the cooperative financial group Volksbanken Raiffeisenbanken. “amberra ensures that the Volksbanken and Raiffeisenbanken are more than just financial partners – namely partners for life,” explains Moritz Otterbach, Head of Investments at amberra, the idea behind the young Berlin lender, which was founded in 2022.
He goes on to explain the concept: “amberra invests in companies or cooperates with them and makes them accessible to 30 million customers through the almost 700 cooperative banks. If there is no suitable solution yet, then amberra also sets up innovative services itself. This creates new solutions and offers for the daily lives of people in the regions.”
In recent years, the amberra team has invested in emerging companies such as LillianCare, ubiMaster and nuuEnergy.
In an interview with deutsche-startups.de, amberra maker Moritz Otterbach speaks in detail about the current investment situation in Germany.
How would you explain Amberra to your grandmother?
amberra ensures that the Volksbanken and Raiffeisenbanken are more than just financial partners – namely partners for life. Imagine that your Volksbank Raiffeisenbank not only takes care of money, but also ensures primary care in rural areas, supports families with educational opportunities or homeowners with energy-saving renovations with regional craftsmen. There are already many great young companies in Germany that are making people’s lives easier with solutions like this. amberra invests in these companies or cooperates with them and makes them accessible to 30 million customers through almost 700 cooperative banks. If there is no suitable solution yet, amberra will also set up innovative services itself. This creates new solutions and offers for the daily lives of people in the regions.
How do you assess the current investment situation in Germany?
The investment situation in Germany is currently significantly more selective than it was just a few years ago. The changed interest rate environment and macroeconomic uncertainties have led investors to pay more attention to substance, clear market positioning and resilient business models. Capital is still available – but it is used more consciously and with greater scrutiny. At the same time, I also see this as a positive development: the phase of growth at all costs is over. Investors are now financing much more in resilient business models. This changes the playing field: less momentum-driven dynamics and at the same time the path to long-term sustainable value creation, i.e. more substance. For founders, it is the opportunity to differentiate themselves sustainably with quality, capital efficiency and clear strategic positioning.
What expectations do you have for the coming months?
I look to the coming months with constructive optimism. In Germany in particular, we see enormous structural challenges – for example in the energy and housing industries. However, this is precisely where sustainable pressure to innovate arises. “Strategy first” will dominate. I expect that corporates will purchase innovation in an even more targeted manner in the future – not as an experiment but as a strategic asset. There is also likely to be more movement in the M&A environment. Although IPOs will play a minor role in the short term, a stabilization of the capital markets could open up new exit options in the medium term. On the startup side, we are currently experiencing an exciting momentum: technologically strong, focused teams that think visionarily and at the same time implement things very pragmatically. Especially in the corporate venture sector, it becomes clear that capital alone is not enough – strategic partnerships, market access and implementation power are crucial. Exactly what we offer with amberra and the cooperative financial network. I am convinced: It is a phase in which substance, courage and strategic cooperation count more than pure valuation levels – and that is healthy for the ecosystem in the long term.
What advice would you give to founders who are currently looking for capital?
I would currently advise three things to founders: clarity, focus and capital discipline. First: sharpen your market positioning. Investors are not looking for a vision in a vacuum, but rather a solution to a clearly defined problem and understandable value creation logic. Second: Proves traction. Clear unit economics, valid customer relationships and reliable assumptions are more important today than ambitious growth plans. Third: choose investors consciously. In a selective market environment, it is not just capital that matters, but strategic fit – i.e. access to customers, industry expertise and the ability to form long-term partnerships. Capital is a commodity. Strategic fit is differentiation!
Which startups are you particularly excited about at the moment?
I’m currently particularly excited by startups that combine technological excellence with real-world application relevance. In other words, teams that not only develop a strong product, but also have a deep understanding of the market, regulation and operational implementation. Of course, solutions at the interface between technology and concrete implementation in key areas of life and the economy – such as housing, health, education, energy and the regional economy – are particularly interesting for amberra. This is also reflected in our portfolio: with LillianCare, for example, we are strengthening primary care care, ubiMaster offers digital learning support for students, and nuuEnergy addresses the energy transition. And with our own development, stroya, we are bringing tenant electricity into the area as a solution. For us, what is important is not short-term hype, but rather substance, strategic connectivity to the cooperative financial group and teams that combine vision and implementation strength.
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