HPE Progress backs WeTransfer in €35M secondary funding spherical

WeTransfer, the Amsterdam-headquartered firm that’s finest know for its file-sharing service, is disclosing a €35 million secondary funding spherical.

The funding is led by European development fairness agency, HPE Progress, with “vital” participation from present investor Highland Europe. Being secondary funding — which means that a lot of shareholders have bought all or a portion of their holding — no new cash has entered WeTransfer’s stability sheet.

We’re additionally instructed that Jonne de Leeuw, of HPE, will change WeTransfer co-founder Nalden on the corporate’s Supervisory Board. He joins Bas Beerens (founding father of WeTransfer), Irena Goldenberg (Highland Europe) and Tony Zappalà (Highland Europe).

The precise monetary phrases of the secondary funding, together with valuation, aren’t being disclosed. Nonetheless, noteworthy is that WeTransfer says it has been worthwhile for six years.

“The valuation of the corporate isn’t public, however what I can let you know is that it’s positively up considerably for the reason that Sequence A in 2015,” WeTransfer CEO Gordon Willoughby tells me. “WeTransfer has grow to be a trusted model in its area with vital scale. Our switch service has 50 million customers a month throughout 195 nations, sharing over 1.5 billion recordsdata every month”.

Along with the wildly well-liked WeTransfer file-sharing service, the corporate operates a lot of different apps and providers, some it constructed in-house and others it has acquired. They embrace content material sharing app Accumulate (claiming four million month-to-month customers), sketching device Paper (which has had 25 million downloads) and collaborative presentation device Paste (which claims 40,000 energetic groups).

“We wish to assist individuals work extra successfully and ship extra impactful outcomes, with instruments that collectively take away friction from each stage of the artistic course of — from sparking concepts, capturing content material, creating and aligning, to supply,” says Willoughby.

“Over the previous two years, we’ve been investing closely in our product growth and have grown tremendously following the acquisition of the apps Paper and Paste. This strengthened our product set. Our overarching mission is to grow to be the go-to supply for lovely, intuitive instruments that facilitate creativity, slightly than distract from it. In fact, our switch service remains to be a giant piece of that — it’s a brilliantly easy device that greater than 50 million individuals a month love to make use of”.

In the meantime, Willoughby describes WeTransfer’s twin income mannequin as “fairly distinctive”. The corporate presents a premium subscription service referred to as WeTransfer Plus, and sells promoting within the type of “lovely” full-screen adverts referred to as wallpapers on Wetransfer.com.

“Each bit of artistic is absolutely produced in-house by our artistic studio with an uncompromising concentrate on design and person expertise,” explains the WeTransfer CEO. “With full-screen promoting, we discover that our customers don’t really feel they’re merely being bought to. This strategy to promoting has been extremely efficient, and our advert efficiency has far outpaced IAB requirements. Our promoting stock is sought out by manufacturers like Apple, Nike, Balenciaga, Adobe, Squarespace, and Saint Laurent”.

Alongside this, WeTransfer says it allocates as much as 30% of its promoting stock and “billions of impressions” to assist and highlight up-and-coming creatives, and causes, comparable to spearheading campaigns for social points.

The corporate has 185 workers in whole, with about 150 in Amsterdam and the remaining throughout its U.S. workplaces in L.A. and New York.

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