Failed 2023

    VEACT

    Munich automotive-CRM SaaS VEACT filed insolvency in 2023 after over-reliance on a small group of large dealer-group customers — one of the German automotive-tech failures of the year.

    Founded → Closed

    2011 → 2023

    Funding Raised

    $45M

    Industry

    Automotive SaaS/CRM

    Country

    Germany

    Full Analysis

    Munich-based VEACT built CRM and customer-data software exclusively for the automotive dealer industry. After raising over €40M, customer concentration with a small number of large European dealer groups proved fatal: when two key customers cut budgets in the 2023 European auto-sales slowdown, VEACT could not cover its cost base and filed for insolvency in Munich.

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