Leading file-transferring service WeTransfer has secured $25 million in a successful Series A funding round, the business has announced.
The cash was raised by Highland Capital Partners Europe (HCPE) – who will take on a minority share in the business. HCPE will take an active part in advising on growth strategies as part of the WeTransfer board.
The funds raised will be used to support innovation, product development and worldwide growth – with particular focus on Europe and the US. The company now has around 70 million users; having built up a loyal customers base since its launch in 2009.
Bas Beerens, founder and CEO of WeTransfer, said that funding wasn’t “something we proactively looked for”.
>See also: Tech businesses to grow by 11% in 2015
“But having been approached by a significant number of investors from across the globe in the past two years, we realised there were bigger opportunities to grow as a service and a brand,” he said.
“When HCPE approached us, we had an instant connection. In addition to supporting us with funding, HCPE will offer advice and expertise to help us achieve our goal to build on WeTransfer’s brand and offering.”
HCPE partner Tony Zappalà added that he was delighted to have an interest in a successful company based around a “product that creative professionals and consumers worldwide love to use”.
We look forward to working with them to continue making WeTransfer a fun, productive and intuitive experience, which wows its users every time,” he said. Zappalà and Irena Goldenberg, a fellow partner at HCPE, will be joining WeTransfer’s board.