Two German billion-dollar startups, Celonis and Sennder, have kept their financial data secret since 2019. The Federal Office of Justice has imposed fines totaling 187,500 euros on Celonis. Celonis cites competitiveness concerns for the lack of transparency.
Berlin. The software company Celonis has not published an annual balance sheet since 2019. According to Handelsblatt research, Celonis and the logistics firm Sennder have kept their figures secret longer than any other German startups valued in billions.
The Federal Office of Justice imposed fines totaling 187,500 euros on Celonis for violations of commercial disclosure requirements. Celonis justifies the secrecy with concerns over its competitiveness.
Celonis ranks as the third most valuable German startup after the fintech Trade Republic and the AI defense company Helsing. Valued at 13 billion dollars, it serves major clients including Deutsche Telekom, Mercedes-Benz, and Uniper.
