Tappx closes an investment round of 550.000 euro and enters the b-ventures acceleration program.
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”.