WeTransfer raises $25 million to accelerate growth
Leading file-transfer service lands investment from Highland Capital Partners Europe
SummaryWeTransfer, the worldwide leading file-transfer service, has completed a major Series A round of funding from top-tier investor, Highland Capital Partners Europe. The funding round will support the rapid growth of WeTransfer across the US, Europe and beyond. Highland Capital Partners Europe, which has previously invested in Matchesfashion.com and Brandwatch in the UK and Rent the Runway and Malwarebytes in the US, has invested $25 million, taking up a minority share in the business.
The successful completion of fundraising is a new milestone for WeTransfer, providing the company with an injection of both capital and expertise. With its track record of high profile investments, HCPE will play an active role in advising WeTransfer’s board and will help them to accelerate growth globally.
WeTransfer has been consistently profitable since 2013 and has continued to grow its user base to over 25 million monthly active users that send 70 million transfers each month. Having more than doubled its revenues in the last year the company will strive to maintain its position as the most popular file-transfer service in the world. WeTransfer will use the investment to continue to innovate and develop its product and build the brand further across the US, Europe and beyond.
Tony Zappalà and Irena Goldenberg, Partners at HCPE, will be joining WeTransfer’s board.
Going forward, WeTransfer’s focus will be on building on its partnership strategy in the US and beyond and to carry on pushing the boundaries for the service. The way content and information is shared is constantly changing, along with user development, and WeTransfer is continually challenging the market to make the experience as natural for users as possible.
WeTransfer is consciously anticipating the users’ needs, always making tweaks and improvements. New partnerships, products and experiences will continue to form a key part of this, which will be debuted in due course and will help the company to maintain its position as the leading authority on exchanging digital content in an easy way.
"Funding isn’t something we proactively looked for, 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. 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." Bas Beerens, founder and CEO of WeTransfer
"We are delighted to have invested in WeTransfer. The team has bootstrapped an amazing company, built 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." Tony Zappalà, Partner of Highland Capital Partners Europe
WeTransfer is the simplest way to send your files around the world. The service was founded in 2009 in Amsterdam by Bas Beerens and Nalden, who wanted to create an easy platform for people to send big files without any sign-up. Today, 40 million active users across 195 countries transfer one billion files every month. It is WeTransfer’s mission to enable the effortless transfer of ideas from one creative mind to many. We want to help our users get in, and stay in, their creative flow – that strange and beautiful state where everything comes together and great things happen.
WeTransfer has a dual revenue model, split between advertising and premium subscriptions. With WeTransfer Plus, customers benefit from bigger transfer sizes, storage and personalization options. WeTransfer also works with the world's biggest brands, including Google, Samsung, Netflix and Squarespace, to develop and deliver beautiful, full-screen advertisements on our background wallpapers.
Since day one, WeTransfer has proudly supported the creative communities by giving away 30% of the advertising space to showcase projects we love. With WeTransfer Studios, creative partnerships have been launched with some of the world's most interesting individuals and organizations, including FKA twigs, Rankin, Anderson .Paak, McSweeney's, World Press Photo, The Royal Academy of Arts and the Ace Hotel Group. On our content platform This Works, we tell the stories behind the creative work we curate and create. WeTransfer also supports tomorrow’s creative leaders by offering free premium accounts to all arts students in the United States.
Following a $25 million investment from Highland Capital in 2015, WeTransfer opened a US office in Venice Beach, Los Angeles, to add to the Amsterdam headquarters.