Wrapp Raises $5.5M in Series A Funding
Wrapp, a Stockholm, Sweden-based social gifting service, today has raised $5.5m in Series A funding.
The company intends to use the funds to launch its service in the U.S. and U.K., as well as to develop the application.
Founded in 2011 by Hjalmar Winbladh and a team of young entrepreneurs, including Andreas Ehn, Carl Fritjofsson, Aage Reerslev, and Fabian Mansson, Wrapp is a social gift giving service that allows users to celebrate friends using mobile devices or the web. It enables friends to give and contribute to free and paid digital gift cards provided by several brands, making it as easy to send a gift or a greeting.
The company is also based in London and Silicon Valley.
In Sweden, partners already include sporting goods retailer Stadium, consumer electronics chain Elgiganten, designer underwear brand Björn Borg, street fashion brand WeSC, and home improvement chain Clas Ohlson, among others.
In conjunction with the funding, Niklas Zennström founder of Atomico Skype, Kazaa and other companies, is joining Wrapp’s board of directors.