DGB Group N.V.: DGB Group sells 40% stake in Corekees

DGB Group N.V. ("DGB" or "the Group") (Euronext: DGB: NL0009169515), a leading carbon project developer and ecosystem restoration company, announces the sale of a 40% stake in Corekees Management B.V. ("Corekees"). The sale is part of a larger investment round in which Corekees raised new funds to fuel its rapid growth. Following the transaction, DGB will hold a 10% stake in Corekees, which is now valued at €5 million following its recent investment round.

Highlights

• Initial investment: On 18 May 2021, DGB invested €500,000 and acquired a 50% stake in Corekees, valuing the company at €1 million. This investment significantly enhanced Corekees.com, the company's investment platform, driving 300% growth over the last three years. Corekees gained significant recognition in the industry as the fastest-growing sustainable investment platform in the Netherlands, evidenced by its nominations for the 'Gouden Stier' (Golden Bull) award in both 2022 and 2023.
• Investment round: Corekees has successfully completed a new investment round from other investors, raising new funds to support its continued expansion. This round has attracted substantial interest from investors, valuing Corekees at €5 million. The new funds will be used to further develop the company's innovative retail investment platform and enhance its operations across Europe.
• Transaction structure: As part of the investment round, DGB exited its lead-investor position, a common practice in early-stage venture capital investments. The transaction is structured as a €500,000 convertible loan with a 5% interest rate, incentivising Corekees to prioritise repayment within the next three years. Through this sale, DGB aims to recover its initial investment while retaining a strategic 10% stake, affirming its commitment to Corekees' ongoing development and success.

• Future outlook: The retail investment market in Europe is rapidly expanding, with projections estimating it to reach €15 billion by 2025. Corekees is well-positioned to capitalise on this growth, having established itself as the fastest-growing sustainable investment platform in the Netherlands. With the recent investment round, the company expects to see continued robust growth as it scales its operations across Europe.

Nick van Heesewijk, the co-founder of Corekees, commented, "We are grateful for the partnership with DGB Group, which has been instrumental in scaling our operations and expanding our impact in the early stages. This transaction not only marks a pivotal milestone for Corekees but also reinforces our commitment to accelerating our growth. We are ready for the next phase of further growth. Our focus remains on enhancing the scalability of our platform in Europe to meet the growing demand for sustainable investments."

The CEO of DGB, Selwyn Duijvestijn, remarked that "This strategic divestment perfectly aligns with our vision of fostering early-stage substantial environmental change while delivering value to our stakeholders. Our initial investment in Corekees in May 2021 valued the company at €1 million. With Corekees now valued at €5 million, our sale and us retaining a 10% stake means we have effectively doubled our investment, securing a 100% return for our shareholders. We continue supporting Corekees' remarkable trajectory in the green finance sector. Their resilience and growth validate our initial decision, and we look forward to their continued contributions to a more sustainable future."

DGB's stake in Corekees is a prime example of DGB's dedication to nurturing early-stage initiatives which is part of DGB's broader strategy to integrate impactful projects and business into its core business framework. DGB encourages startups interested in exploring growth and acceleration opportunities to visit startup.green.earth for more information.

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