Balderton leads $1.4m round for Tapdaq
Balderton Capital has led a $1.4m seed round for Tapdaq, a London-based peer-to-peer advertising network for app developers.
Open Ocean Capital and Ballpark Ventures also took part in the round alongside angel investors.
Tapdaq will use the fresh capital to expand its team of developers.
The deal reflects Balderton's interest in the London tech scene. This year the VC has led a $10m series-A for Citymapper, a real-time transport information app developer, and a $7m round for B2B online direct debit platform GoCardless.
Company
Founded in 2013 and headquartered in London, Tapdaq is a peer-to-peer advertising network. The service allows developers to trade a virtual currency called Daq in exchange for exposure within each others' mobile apps. The company has a headcount of around 50.
People
Ted Nash is CEO and co-founder of Tapdaq.
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