HPV and Team Europe Ventures invest $5m in SponsorPay
Hasso Plattner Ventures and Team Europe Ventures have invested $5m in a series-A round for SponsorPay, a currency monetization platform.
The Berlin-based company will use the investment to accelerate growth in international markets and further expand its position in Europe.
SponsorPay GmbH, established in 2009, has 40 employees and serves local advertising offers to over 150 million users in more than 100 countries. In February 2010, Sponsorpay acquired its competitor GratisPay.
The company's customers include online game publishers such as Gameforge, Bigpoint, Gala Networks, InnoGames, Café.com and Frogster, and also builds direct relations with branded advertisers to provide offers to online gamers and users of social networks.
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