Aptoide, a Lisbon, Portugal-based provider of an alternative Android app store, raised €8.5M in funding.
Digital Turbine made the investment.
The company intends to use the funds to further develop and promote GamesHub and Catappult, two platforms in the mobile app ecosystem.
Led by CEO Paulo Trezentos, Aptoide is a social Android app store featuring social environment, recommendations and the opportunity for users to create and share their own personal app stores. The company also provides customizable app store solutions for developers, OEMs, Telcos and Integrators, through which they can upload and distribute their Android Apps. Its App Store is available for mobile, TV and VR devices and is accessible in over 40 languages.
The investment serves two primary purposes. First, it supports Aptoide’s vision to further develop and promote GamesHub and Catappult, two platforms in the mobile app ecosystem. GamesHub, a joint effort between Digital Turbine and Aptoide, is a game app store that has already gained recognition as the platform of choice for major operators in the United States. It aims to expand its presence in the US market and targets availability on 80 to 100 million devices by the end of 2023. The platform’s strategic partnerships with carriers like ATT, Verizon, USCellular, Tracfone, Cricket and BLU US position it for significant growth and success in 2024.
Catappult is Aptoide’s alternative mobile gaming distribution and monetization platform. With hundreds of millions of users, it connects developers to more than 20 alternative app stores worldwide, streamlining distribution, promotion and monetization.
Secondly, the investment allows Atpoide to repurchase company stock from current shareholders, providing them with a significant return on their investment.
In October 2022, Digital Turbine announced a strategic investment in Aptoide, which led Aptoide’s Series-B funding round of $12 million USD. It also included investments from Faurecia, Portugal Ventures and the 200M Fund, a Portuguese co-investment company.
FinSMEs
09/11/2023