Tappx, the mobile app monetisation provider launched in 2014, has just closed financing of €550,000 from Kibo Ventures, part of Amerigo, a Telefónica investment fund, and b-ventures. The company has previously received an innovation, investment and mentoring programme, but hasn’t generated any angel financing, until now.
Tappx announces first angel funding round
The fact that Tappx has a community that is now 10,000 developers strong and generates 600m monthly impressions certainly helped the company to break even after a year of launching and ultimately receive angel investment.
Aquilino Peña, Partner, Kibo Ventures, explains:
“[At] Kibo Ventures, we invest in companies with a global vision and a passionate team. Tappx addresses a real monetisation need for millions of apps worldwide. Its technology has enabled them to sign up thousands of developers in a very short period of time and reach profitability with very limited resources. We love to support these entrepreneurs who can achieve good results quickly and we are sure that this financing round will allow Tappx to accelerate growth and execute on its internationalisation process.”
Tappx provides cost-efficient app cross-promotion and monetisation tools. Developers are part of a community and earn credits when they view each other’s app ads. Credits are then redeemed to buy ad placements across apps. Its technology is based on optimisation factors that place ads strategically to increase downloads and efficiency.
As part of the deal, Tappx joins b-ventures’ accelerator programme that provides economic support and mentoring for mobile tech firms.
Daniel Reina, CEO at Tappx, commented:
“Kibo Ventures and b-ventures are two crucial partners that will support us with their skills, contacts and synergies with other startups. We are very happy to start this new chapter with them and to have the resources to accelerate our growth.”