Project A Ventures backs Tictail

This investment is an extension of the firm's first financing round. Project A joined existing investors Balderton Capital, Klaus Hommels and six angel investors.

Project A will work with the start-up to improve its performance marketing and business intelligence.

The fresh capital will be used to further develop the company's product, as well as expand into international markets with a focus on the UK, the US, France, Germany, Sweden and Denmark. In the long term, the company is looking to potentially expand into Brasil, Turkey and Indonesia.

Based in Berlin and Sao Paulo, Project A focuses on investing in companies within the internet, advertising technology and mobile sectors.

Previous funding
Balderton and Klaus Hommels led a €1.2m seed round for Tictail in October 2012. The advisory board, which also invested in the first round, includes business angels Gustav Soderstrom, Peter Sandstrom, Fredrik Nylander, Sophia Bendz, Vincent Skoglund and Gustav Astromer.

Company
Tictail was founded in Stockholm in May 2011 by Carl Waldecranz, Kaj Drobin, Birk Nilson and Siavash Ghorbani. The company launched its DIY e-commerce platform in May 2012. It allows users to set up their own virtual store.

Since its launch, Tictail has created in excess of 25,000 online stores in more than 110 countries. The start-up launched its app store, which is open to external developers, in September.

People
Florian Heinemann worked on the deal for Project A and will join Tictail's board. Carl Waldecranz, Kaj Drobin, Birk Nilson and Siavash Ghorbani are co-founders of Tictail.

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