Vienna’s Flinn Raises €17M Series A to Automate MedTech and Pharma Compliance
Vienna-based scale-up Flinn has completed a Series A funding round of €17 million ($20 million USD). The round is led by HV Capital, with participation from US healthcare specialist BHI (Bertelsmann Healthcare Investments) and existing investors Cherry Ventures, Speedinvest, and SquareOne. Founded in 2023, the scale-up develops AI-powered software to automate regulatory and quality processes in the medical device and pharmaceutical industries.
Product Expansion and International Expansion
With the fresh capital, Flinn plans to expand its platform across the entire product lifecycle in MedTech and Pharma. In addition to its previous focus on regulatory and post-market processes, this includes research and development as well as commercial processes. At the same time, the company aims to expand its international presence in Europe and prepare for entry into the US market.
The company had already completed a funding round of six million euros in September 2024, at that time under the name “Flinn Comply”. In total, the scale-up has now raised approximately $30 million according to its own statements.
Automation of Regulatory Processes
Flinn addresses the challenge that medical device and pharmaceutical companies face increasingly complex regulatory requirements. The company’s software automates regulatory workflows, data evaluation, and reporting. Manual, document-heavy processes are replaced by scalable, intelligent systems.
According to the company, customers include leading MedTech companies such as Carl Zeiss, Philips, and Paul Hartmann. Stefan Fischer, Senior VP Regulatory Affairs at Hartmann, is quoted in the press release with the following statement:
“At Paul Hartmann, Flinn has fundamentally changed how we approach regulatory and quality work. By automating recurring compliance and evaluation tasks, our teams can work more consistently across markets and focus on higher-value activities that require expert knowledge.”
Founding Team with N26 Background
Flinn was founded by Markus Müller, Bastian Krapinger-Rüther, and Hasib Samad. All three founders previously worked at neobank N26. Krapinger-Rüther also brings experience from the MedTech industry, including from Styrian company Carbomed.
Bastian Krapinger-Rüther, Co-Founder and Co-CEO, explains the strategic direction: “Regulatory and quality processes have become one of the major cost drivers across the entire medical product lifecycle. Our software is designed to replace manual, document-heavy workflows with automated systems that scale across products, markets, and regulatory regimes.”
Investor Perspective
Felix Klühr, General Partner at HV Capital, highlights the commercial traction and customer feedback. Tim Schneider, Partner at BHI, emphasizes the market opportunities in the US and the combination of industry-specific experience and technical execution speed of the team.
HV Capital is one of Europe’s leading early-stage and growth investors with €2.8 billion in assets under management. BHI, as Bertelsmann’s investment arm, focuses on healthcare technologies.
Market Context
The medical device and pharmaceutical industry is subject to strict regulatory requirements. In Europe, for example, companies must comply with the requirements of the Medical Device Regulation (MDR). These compliance processes are time-consuming and costly, which is particularly challenging for innovative companies.
Flinn positions itself as a solution to make these processes more efficient without compromising patient safety. The company is based in Vienna and, according to its own statements, focuses on transforming compliance from a manual cost factor into a scalable knowledge hub.
