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 makes tools to move ideas. Founded in 2009 in Amsterdam as a simple, well-designed file sharing service for the creative community, WeTransfer has grown to include tools that scale across the creative spectrum, including editorial platform WePresent (with 2M monthly readers), mobile app 'Collect by WeTransfer' (with 4M monthly users), quick slide-making tool Paste® (with 40,000 active teams), immersive sketching tool Paper® (with more than 25M downloads), and the original web platform with 50M monthly users and over a billion files sent each month.
From the beginning, WeTransfer has prioritized bringing “offline” values - trust, transparency, and ethics - online. This means having a responsible data policy and tools that don’t distract people from their creative flow. WeTransfer has pioneered a new means of online advertising, resulting in the platform’s full-page wallpapers, designed by our award-winning in-house creative studio. Advertisers include industry-leading brands like Apple, Saint Laurent, Google, Balenciaga, Samsung, Netflix, Adidas, and Squarespace.
Since its founding, WeTransfer has proudly supported the creative communities and given up to 30% of advertising space to support the arts, donating over 5 billion impressions in 2017. Through our ongoing advertising grant program and content platform, WePresent, we have partnered with hundreds of groundbreaking artists and organizations, including Björk, King Krule, FKA twigs, Ryan McGinley, Ami Vitale, the Nelson Mandela Foundation, the UN Development Program, the World Wildlife Foundation and the Prince Estate. In 2016, WeTransfer launched the world’s first free Masters of the Arts in design thinking with the University of the Underground and Worldwide FM, the global radio station run by legendary BBC DJ Gilles Peterson.
Following a $25 million investment from Highland Europe in 2015, WeTransfer opened a US office in Venice Beach, Los Angeles, to add to the Amsterdam headquarters. In 2018, WeTransfer acquired popular creative apps Paper® and Paste® and expanded its US presence to New York City.