Sweden-based Wrapp has raised $15m in series B funding with participation from new corporate venturing investors Qualcomm Ventures and American Express.
The round includes continued support from series A investors Greylock Partners, Atomico and Creandum, as well as another new investor SEB Private Equity, managing third party client capital at the Nordic financial services group SEB.
Wrapp will use the series B funds to continue expansion, including hiring staff for its US operations in San Francisco.
Reid Hoffman, general partner at Greylock and Wrapp board member, said: “Wrapp’s friend-to-friend marketing platform is unique, and seriously valuable to both merchants and consumers.”
Niklas Zennström, general partner at Atomico and Wrapp board member, said: “Wrapp is targeting a huge market using social networks and smartphones – two massive shifts that are changing forever how we communicate, shop and celebrate the people we care about – and it’s getting bigger every day.”
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