Danish angel backs Wamba with EUR3m

Social community site Wamba has received EUR3m in funding from Morten Lund, a business angel who previously invested in Estonian software business Skype. It is understood that Lund will control 40% of the business, while the remainder will be held by the company's employees and founders Enrique Dubois and Matias Rodrigo de Tezanos. Wamba is a Facebook-style website that allows users to share music, videos and photos, as well as communicating. Since its launch in March 2007, it has achieved one million registered users. Wamba is based in Palma de Mallorca, with offices in Madrid and Montevideo.

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