WeTransfer secures $25m to fund global growth
Website allows estimated 70m global users to transfer 2GB files for free
Worldwide file-transfer service WeTransfer has raised $25m in a Series A round of funding led by Highland Capital Partners Europe (HCPE), which has taken a minority share in the business.
Launched in 2009 by Bas Beerens and Nalden from a desire to create a large file sharing service “their parents could use”, the platform allows users to send files up to 2GB for free without the complications of signup forms.
Users that do sign up can make 10GB transfers to multiple recipients and receive 50GB of storage space. The site forgoes “intrusive” banner ads in favour of curated wallpapers provided by artists, brands and events.
The capital will be used to accelerate the company’s global growth, increase its user base of more than 25m unique users, and to develop a reputation as a world leading digital file sharing service.
Beerens commented: “Funding isn’t something we proactively looked for, but having been approached by a significant number of investors from across the globe in the past two years, we realised there were bigger opportunities to grow as a service and a brand.
“When HCPE approached us, we had an instant connection. In addition to supporting us with funding, HCPE will offer advice and expertise to help us achieve our goal to build on WeTransfer’s brand and offering.”
Partner of Highland Capital Partners Europe Tony Zappalà said: “We are delighted to have invested in WeTransfer. The team has bootstrapped an amazing company, built around a product that creative professionals and consumers worldwide love to use. “We look forward to working with them to continue making WeTransfer a fun, productive and intuitive experience, which wows its users every time.” Tony Zappalà and Irena Goldenberg, Partners at HCPE, will be joining WeTransfer’s board.”