VCs in $50m round for Maps.Me

The company aims to use the fresh capital to launch financial tools for use alongside its app, including a multi-currency wallet.

Previous funding
Maps.Me (formerly known as MapsWithMe) raised a seed round in 2013, backed by angel investor Yuri Gurski.

The company was acquired by Mail.Ru in November 2014 for around €5.79m. The company was sold to Parity.com subsidiary Daegu for around €16.65m in November 2020.

Company
Founded in 2011, Maps.Me is an app that displays maps of cities from Open Street Map data, designed to allow users to navigate and find points of interest. The app also provides travel guides and hotel booking details. The company reported revenues of €1.7m in 2019 alongside negative EBITDA of €260,000. Maps.Me is headquartered in Zug, according to its website.

People
Maps.Me – Alex Grebnev (CEO).
Alameda Research – Sam Bankman-Fried (CEO).

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