SponsorPay Receives $5 Million Funding From Nokia Growth Partners and Existing Investors

BERLIN, Germany (February 23, 2011) – SponsorPay, the leading international ad-funded payments platform, has announced Series A2 funding of US $5 million from Nokia Growth Partners (NGP) and existing investors. The new investment will be employed towards SponsorPay's expansion to mobile platforms.

SponsorPay’s innovative service helps online publishers monetize their users more effectively and advertiser clients achieve their campaign objectives. The funding from Nokia Growth Partners not only contributes financial support to SponsorPay but grants access to a global industry network and attractive business development opportunities in the booming mobile space.

“Since inception, we’ve focused on delivering a high quality user experience and expanding the business internationally to achieve a premier position in the industry. The investment allows us to carry our success forward to the mobile market. We are excited to work with such a reputable financier,” commented Andreas Bodczek, CEO and co-founder at SponsorPay.

“We are very pleased to invest in SponsorPay and support the expansion of their cutting edge monetization platform. They have established themselves as a distinct leader in a rapidly growing market and serve a diverse customer base from all over the world. We believe there are great opportunities ahead when working together,” added Bo Ilsoe, partner at Nokia Growth Partners.

SponsorPay’s industry-leading turnkey solution handles campaign optimization, billing, fraud prevention and 24/7 native customer support. The NGP investment will help extend SponsorPay’s leadership to mobile platforms, thereby offering both publishers and advertisers a complete cross-platform solution.

SponsorPay’s new SDKs for all leading smartphone platforms give mobile game and application developers access to a diverse portfolio of distribution and monetization products including application installs, surveys, trials, lead generation and videos.

“Our mobile services address two major challenges for developers – performance-based distribution and monetization of price-sensitive users. SponsorPay’s proven strengths are excellent partnership development and high quality localization. These are in our DNA and will help us succeed in the mobile space as well,” said Janis Zech, Chief Revenue Officer and co-founder at SponsorPay.

About SponsorPay

SponsorPay (www.sponsorpay.com) is the European market leader in the field of virtual currency monetization for online games, social apps, virtual worlds and social networks. The company’s innovative ad-funded payment solution gives online users access to virtual currency or premium features through participation in targeted advertising offers.

SponsorPay works with thousands of partners including leading publishers Disney (Playdom), Ubisoft, Bigpoint, 6waves, Perfect World and IMVU on platforms such as Facebook, MySpace, Netlog and VZnet, as well as renowned advertisers such as Procter & Gamble, AT&T, Skype, Match.com, Adobe, Kaspersky and DirecTV. The company’s commitment to a localized, high-quality user experience has enabled it to expand its reach to over 120 million satisfied customers across more than 100 countries.

SponsorPay is headquartered in Berlin with offices in San Francisco, Paris and London.

About Nokia Growth Partners
Nokia Growth Partners (www.nokiagrowthpartners.com) is the premier venture investor focused on growth stage companies in the mobile industry. With $350M under management, Nokia Growth Partners invests in companies and people that are changing the global face of mobility, communications and the Internet. Nokia Growth Partners offers a global perspective and deep network in the mobile industry and works closely with Nokia to facilitate successful partnerships between Nokia and portfolio companies.

Nokia Growth Partners has offices in Menlo Park, Helsinki, Beijing and New Delhi.

Projjol Banerjea
SponsorPay GmbH
Ackerstr. 14/15
10115 Berlin Germany

This release was published on openPR.