Tappx, a Barcelona, Spain-based cross promotion platform for developers to promote their apps and find new users in a cost effective way, raised €550k in its first financing.
Backers included Kibo Ventures, belonging to Amerigo, a Telefónica investment fund, and b-ventures.
The company intends to use the funds to optimize their cross promotion technology, to launch a monetization solution and to speed up the international growth.
Launched in February 2014 by Daniel Reina (CEO) and Antonio Hervás (CTO), Tappx has created a community of over 10,000 developers that generate 600 million monthly impressions in a cross promotion model.
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.
Prior to this round, the company had been accelerated by Wayra Barcelona, the Telefónica Open Future’ startups accelerator, an open innovation, investment and mentoring program.
Following the deal, Tappx will join b-ventures (DOCOMO Digital’s accelerator) program to follow a tailor made plan to speed up its internationalization, including economic support, as well as mentoring from experts in mobile technology.
The company is based in Barcelona and has just opened an office in India.