Artificial intelligence translation company DeepL has parted ways with its Chief Financial Officer, Markus Harder, according to sources cited by the “Handelsblatt” business newspaper. The move reportedly stems from a perceived lack of experience within the company regarding the complexities of a potential Initial Public Offering (IPO).
DeepL confirmed Harder’s departure in a statement but declined to comment on the timing or specifics surrounding the change. “We can confirm that Markus Harder is no longer with DeepL” a company spokesperson said, adding that a successor would be announced at a later date.
According to LinkedIn profiles, Peter McDougall has assumed the role of interim CFO. McDougall previously played a key role in the IPO of US-based software company Sprinklr, bringing experience in navigating the public market transition.
Recent financial activity also suggests DeepL is preparing for significant growth. Data from Pitchbook indicates the company secured a $75 million senior term loan in January 2025. This external financing, following substantial equity funding rounds, is often seen as a preparatory step for private companies considering an IPO. The identity of the lending institution has not been disclosed and DeepL has not commented on its financial details.