Foap, a Malmoe, Sweden-based mobile photography startup, closed a $1.5m funding round.
Backers included Swedish VC Industrifonden and Maxwell Ventures.
The company intends to use the funds to further grow the sales team and launch in US market.
Founded in 2012 by Alexandra Bylund and David Los, Foap enables smartphone photographers to upload their photos to the Foap Market. Each image is available for $10 to buyers. To date, 5.7 million images have been uploaded to the Market. First available for iOS, an app for Android will be released in September.
In March, the company launched Foap Missions to help brands (MANGO, Puma, Lavazza, VisitSweden and Rebtel joined) better engage with their fans. Brands set their communities a photo mission with the winner receives a cash
reward that can then be used in its future marketing campaigns.
FinSMEs
08/08/2013