Tappx closes an investment round of 550.000 euro and enters the b-ventures acceleration program
- Tappx offers developers a platform to cross promote apps and acquire new customers. In two years Tappx has signed up 10,000 app developers worldwide generating over 600 million monthly impressions.
- The Spanish enterprise, accelerated by Wayra and financed by Telefónica, raises now its first financing round with Kibo Ventures and b-ventures. Additionally, Tappx is joining b-ventures’ acceleration program to support its international growth and to optimize its solutions.
Barcelona, 14 September 2016. Tappx was launched in February 2014 and has already created a community of over 10,000 developers that generate 600 million monthly impressions in a cross promotion model. Tappx reached breakeven after only one year from launching. Tappx is now raising its first financing round of €550,000 with Kibo Ventures belonging to Amerigo , a Telefónica investment fund, and b -ventures. Prior to this round, Tappx had been accelerated by Wayra Barcelona, the Telefónica Open Future’ startups accelerator, an open innovation, investment and mentoring program; until now, Tappx had not received any business angel’s financing.
Tappx will join b-ventures (DOCOMO Digital’s accelerator) program, which will offer the startup a tailor made plan to speed up its internationalization, including economic support, as well as mentoring from well-known experts in mobile technology.
Tappx aims to help developers and app owners promote their apps and find new users in a cost effective way. This was the rationale behind creating a cross promotion platform to help developers grow without incurring in advertising costs.
The developers in the community earn credits when they show other developers ads on their apps. These credits can be used in turn to buy ad placements on other apps, applying filters per country and app category.
One of the key assets of the startup is its technology that helps optimize the ads placed to maximize the number of downloads and increase efficiency. This solution is really innovative and allows developers to find new users with no additional costs.
Tappx was founded by Daniel Reina (CEO) and Antonio Hervás (CTO), two experienced professionals with 15 years of experience working together. Before Tappx they created a mobile app to compare product prices covering over 7 million handsets in 6 different countries. From this experience they learned about the difficulty to promote an app without a marketing budget, and therefore they decided to create Tappx, to help developers around the world in the same situation.
This financing round and b-ventures acceleration program will help Tappx to optimize their cross promotion technology, to launch a monetization solution and to speed up the international growth. Tappx is based in Barcelona and has just opened an office in India.
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”
Aquilino Peña, partner at Kibo Ventures: “In Kibo Ventures, we invest in companies with a global vision and a passionate team. Tappx addresses a real monetization 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 internationalization process”.
David Garcia Fuentes, of b-ventures commented: “We believe that Tappx has a very high growth potential and international reach. It is a project that fits perfectly with b-ventures’ philosophy, as it couples tech innovation with business and it is focused on mobile, offering smart solutions to app developers. Working with our professionals will increase their international growth”.
b-ventures is a project born in Buongiorno (now DOCOMO DIGITAL) in 2013 with the aim of accelerating the growth of innovative startups, using its international experience in the mobile and digital ecosystem, by giving access to its network of investors and business angels built in its 15 years of life.
Born by an initiative of Mauro del Rio, Founder and President of Buongiorno, along with Simona Torre, today b-ventures become part of DOCOMO Digital, the m-commerce enabler, confirming the will of the Group to remain connected to startups, entrepreneurial and innovation technology ecosystem, both at European level as well as internationally.
Since June 2013, 15 are the startups entered in b-ventures program, to which was offered co-working spaces in its Italian and international offices, seeds and personalised co-financing support, an intensive program of mentoring, multidisciplinary coaching 1to1 and fundraising assistance.
b-ventures acceleration program addresses early and seed stage startups operating in fintech ecosystem: mobile payment, mobile advertising and mobile content.
http://kiboventures.com/ is one of the most active Venture Capital firms in the digital sector in Spain. With over 30 companies in its portfolio, Kibo Ventures invests in companies with high growth potential and helps Spanish entrepreneurs with technology differentiation and business models based on Internet or mobile platforms. Kibo Ventures has invested in prominent companies in the Spanish tech ecosystem such as Job and Talent, Carto.com , FlyWire or Promociones Farma.
Wayra (Telefónica Open Future)
Wayra is the accelerator of digital startups from Telefonica Open Future_. Whose main objective is to promote innovation and detection of new products and services in LATAM and Europe, in the field of Internet and new information and communications technology (ICT ). Through its global project acceleration model, supports entrepreneurs in their development by providing them with technological tools, qualified mentors, an incredible place to work, business partners, access to a global network of talent and the opportunity to reach millions of Telefónica customers and financing to accelerate its growth .
About Telefónica Open Future_
Telefónica Open Future is a global programme designed to connect entrepreneurs, startups, investors and public and private partners around the world to capture innovation and business opportunities. Its goal is to support talent at all stages of growth through a comprehensive model for acceleration that is designed to connect talent with organisations, investors and companies. The programme incorporates all the Telefónica Group's open innovation, entrepreneurship and investment initiatives (Think Big, Talentum, Crowdworking, Wayra, Amérigo and Telefónica Ventures) through a global network that is open to participation by external partners that wish to develop their own entrepreneurial and investment strategies. To date, more than 49,000 proposals have been analysed, with a portfolio of more than 1,300 startups; it is present in 17 countries and a total of 384 million euros has been committed to investment by Telefónica and its partners.
More info: https://www.openfuture.org/en