Move2pay: Thelen Wins DHDL Bidding War, but the Deal Collapses

Frank Thelen won a bidding contest against Janna Ensthaler for the Austrian app Move2pay on the German TV show "Die Höhle der Löwen" (DHDL). The agreed deal, however, was never completed after the broadcast.

Move2pay rewards physical activity with credit. Users connect the app to existing health and fitness applications, collect credit for steps and workouts, and spend it in the app's shop with partner brands. Founders Mia Allouche (19) and her father Karim Allouche (49) asked for 350,000 euros in exchange for 10 percent of the company.

Numbers and a famous backer

At the time of filming, the app had almost 30,000 users and was growing by around 300 per day. According to the founders, it generated more than 142,000 euros in revenue from service fees alone over the previous six months. Karim Allouche said about five million euros had flowed into the company over five years, a sum he called "completely crazy". Former pro footballer and coach Steffen Baumgart supports the company as a brand ambassador and says he has collected 1,500 euros in movement credit.

Two offers, one winner

Ralf Dümmel found the idea clever but said it was not his business model. Carsten Maschmeyer and Dagmar Wöhrl also passed. Thelen called the app a "money printing machine" and offered 350,000 euros for 20 percent, twice the stake the founders had offered. Ensthaler, who called the market "gigantic", made the same offer and pointed to contacts in Germany and the US. The founders chose Thelen.

Afterwards, the deal fell apart. Thelen said talks after the recording revealed different ideas about Move2pay's strategic development, and both sides jointly decided not to go ahead with the investment. He pointed to progress since filming, including partner brands such as Snocks, Waterdrop and Ankerkraut, plus a growing community.

For Move2pay, that means the search for growth capital continues, even though the show produced strong interest from two investors.