Flip4new wins investment from former Xing founder

Since Lars Hinrichs, former Founder of XING, sold his stake in the floated company to Burda for €48.3 million he’s been pinging around Europe, attending high level events like Le Web and generally enjoying life. But he’s also – shock horror for a European startup guy – investing in startups, and internationally. So far we hear he’s clocked up in the UK (3), US (5), Germany (6) and Nordics (2). In other words, 40% German, 60% outside Germany.

Hinrichs now has put in “approx 300k Euro”for 12.5% of Flip4new.de, an ecommerce site where customers can exchange their used and unwanted electronic gadgets for new gadgets, vouchers or other e-commerce shops or cash.

Theses multiple options are the new “feature” of the site. We’re not sure if there are other sites out there like this but tell us in the comments and we’ll add them up. It does sound suspiciously like SpeedSell in the UK though.

Only the difference between the price of the new gadget and the trade-in value of the used gadget is charged to the customer. Buying/selling is handled in one transaction. Plus you can just sell, not buy or exchange, says Michael Sauer, founder and CEO.