Busuu, a Madrid, Spain-based language learning community, has received an angel financing of undisclosed amount from Martin Varsavsky.
With over 2m users the company provides users with resources to learn languages individually, to interact with each other and to engage in “community learning”.
Led by CEO Bernhard Niesner, Busuu currently offers 7 languages(Spanish, Italian, English, French, German, Portuguese and Russian) and is planning to add at least 4 more this year, including Mandarin and Japanese. They also launched different pilot projects with schools, universities and companies to expand in the institutional market.
The company also offers an iPhone app.
Commenting on the funding, Mr. Varsavsky, founder of FON and serial entrepreneur, said that he invested in Busuu because it fit three key criteria for angel investing: “a product I love, an entrepreneur I admire and a company I can help grow”.
FinSMEs
25/04/2011