Foap, Malmö-based photo stock website, has received 1.13 million euro investment from Swedish VC Industrifonden and Maxwell Ventures, reports ArcticStartup. The money will be used for further expansion of sales team, opening a new office in New York and launch of Android app in September. On top of this comes new design for the website and increasing interest for photo missions from brand companies.
“Since launching Foap Missions, the brands we are working with have been coming thick and fast which is fantastic. We’ve already worked with MANGO, Puma, Lavazza, VisitSweden and many more with other major household names in the pipeline. It’s important we build on this and grow our sales teams so this round couldn’t have come at a better time,” says David Los, Foap co-founder, for MobileMarketing.
Foap’s current strategy is to get on-board more international brands which will increase downloads of app and build up a photo stock which at the moment has about 5.7 million pictures. For instance, recent photomission with Mango has generated 4.500 photos of quality content in a week time and created a great company buzz in the social media.